What is the 13F Pro Quality Score for WES?

13F Pro ranks Western Midstream Partners, LP (WES) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View WES's current score at https://13fpro.ai/company/WES (free sign-up required for the full ranking).

Which hedge funds own the most WES stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of WES include ALPS ADVISORS, Invesco Ltd., MORGAN STANLEY. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/company/WES as soon as new 13F filings post.

Where does 13F Pro source WES data?

All Western Midstream Partners, LP fundamentals and ownership data come directly from SEC EDGAR. Western Midstream Partners, LP files with the SEC under CIK 1423902. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is WES in?

Western Midstream Partners, LP (WES) is classified in the Energy sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/energy.

What drives WES's revenue?

Per Western Midstream Partners, LP's latest 10-Q filed with the SEC on 2026-08-05, the biggest revenue drivers are: Service revenues – fee based ($980.1M, +5% QoQ). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/WES.

What are WES's largest expenses?

Western Midstream Partners, LP's latest 10-Q reports these as the largest expense items: Operation and maintenance ($285.4M, +8% QoQ); Depreciation and amortization ($205.9M, +3% QoQ); Cost of product ($117.4M, +14% QoQ). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is WES research updated on 13F Pro?

WES's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Western Midstream Partners, LP(WES)Stock Analysis

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SEC EDGAR: CIK 1423902 WES stock profile & AI dashboard →

13F Pro Quality Score

71.0/100

Rank #204 of 2,961 stocksTOP 10%

View Energy peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

63.8/100

Profitability

82.3/100

Balance Sheet

81.7/100

Earnings Quality

44.3/100

Free Cash Flow

95.9/100

Institutional Flow

72.9/100

Revenue Scale

74.9/100

Dilution Risk

49.4/100

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Why WES Scores 71/100

exact factor attribution · 2026-09-11

WES's composite is driven by free cash flow and profitability. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Free cash flow

+6.9 pts

96th pct

Profitability

+4.8 pts

82th pct

Scale

+3.7 pts

75th pct

Capital efficiency

+3.2 pts

82th pct

Revenue growth

+2.8 pts

64th pct

Institutional flow

+1.1 pts

73th pct

Shareholder dilution

-0.0 pts

49th pct

Earnings quality

-0.6 pts

44th pct

Earnings growth

-0.9 pts

32th pct

Latest change (2026-08-05): 78 → 74 · ↓ Revenue growth 70→54

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

WES Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Western Midstream Partners, LP (WES), a Energy sector company. 13F Pro's AI-powered ranking engine scores WES at 71.0/100 on a 32-signal composite quality model, placing it at rank #204 of 2,961 stocks — the top 10% of the AI-ranked universe. WES scores in the top quartile across free cash flow (95.9), profitability (82.3), balance sheet strength (81.7). Shareholder dilution risk is elevated at 49.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Western Midstream Partners, LP reports quarterly revenue of $1.1B, net income of $350.3M, an operating margin of 41.8%. Top institutional holders of WES by reported 13-F value include ALPS ADVISORS, Invesco Ltd., MORGAN STANLEY, based on the most recent SEC filings. WES trades on the NYSE exchange and files with the SEC under CIK 1423902. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate WES daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Western Midstream Partners, LP directly from SEC EDGAR. Western Midstream Partners, LP's 13F Pro composite quality score has ranged between 70 and 78 since 2024, currently 71.0 — a stable long-term trajectory across 55 quarterly and live scoring snapshots.

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Fun facts about Western Midstream Partners, LP

Quirks, history, and lore behind WES — the kind of stuff that makes a stock memorable.

1
The Basics
U.S. midstream energy company · structured as a master limited partnership · listed on the NYSE · headquartered in Texas.
2
The Numbers
Operates roughly 15,000 miles of pipelines and generates annual revenue in the multi-billion dollar range — the kind of steady toll-road cash flows MLP investors dream about.
3
The History
Formed in the late 2000s as a sponsored partnership, it was carved out of a major oil and gas producer to handle that parent's gathering, processing, and transportation needs.
4
The Secret
Its majority owner and sponsor is one of the largest U.S. oil and gas companies — meaning this partnership's fortunes are tightly tethered to a single corporate parent that controls most of its volumes.
5
The Lore
It gathers and processes natural gas and NGLs across basins including the DJ, Delaware, and Powder River — essentially acting as the plumbing system for its parent's upstream production.
6
The Giveaway
Ticker WES, sponsored and majority-owned by Occidental Petroleum — this partnership is the western midstream workhorse keeping Oxy's molecules moving.

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What's Driving WES's Business? Latest 10-Q Breakdown

✓ 37/37 datapoints verified

AI-extracted from Western Midstream Partners, LP's 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Total revenues rose 30% YoY to $1.22B as the Aris and Brazos Delaware acquisitions lifted produced-water throughput 5% QoQ to 2,993 MBbls/d and Adjusted EBITDA to $736.5M.

Biggest Revenue Drivers

Service revenues – fee based$980.1M+5% QoQ

Up $46.8M QoQ on $31.3M at DBM water systems from increased throughput and disposal-fee revenue, $9.1M from the Comanche complex, $7.7M at DJ Basin

Biggest Revenue Drivers

Total revenue: $1,224.7M+30% YoY

Service revenues – fee based$980.1M+5% QoQ

Up $46.8M QoQ on $31.3M at DBM water systems from increased throughput and disposal-fee revenue, $9.1M from the Comanche complex, $7.7M at DJ Basin

Largest Expense Items

Operation and maintenance$285.4M+8% QoQ

Up $21.1M QoQ on $10.6M higher water-disposal costs and $6.2M in chemicals and treating costs

Depreciation and amortization$205.9M+3% QoQ

Up $5.5M QoQ, primarily $4.0M related to the acquisition of the Comanche complex

Cost of product$117.4M+14% QoQ

Crude oil and NGLs purchases up $6.2M, including $3.7M from the Comanche complex; imbalance-position changes added $6.0M

General and administrative$85.9M+14% QoQ

Up $10.8M QoQ on $8.0M higher corporate expenses, primarily Brazos Delaware transaction costs

Margins: Gross margin rose $81.1M QoQ to $901.3M as revenues gained $101.1M against a $14.6M cost-of-product increase. Per-Mcf Adjusted Gross Margin for natural gas improved $0.03 to $1.35, helped by the higher-margin Comanche and DJ Basin volumes.

Watch Items from the Filing

Occidental was the only customer exceeding 10% of consolidated revenues in all periods; related-party revenues were $570.0 million of the quarter's $1,224.7 million.
Brazos Delaware closed June 11, 2026 for ~$1.67 billion ($820.3M cash, $852.0M units); integration risk is a newly added risk factor and controls are still being evaluated.
Carrying value of outstanding debt was $9.1 billion, with a $110.6 million working capital deficit and $1.8 billion of effective RCF capacity remaining.
Powder River Basin natural-gas throughput fell 16% to 397 MMcf/d for the six months on decreased production; equity-investment throughput fell 15%.
Contract liabilities rose to $1,285.0 million from $767.1 million, driven by $572.7 million of non-cash consideration from the Occidental unit redemption valued at $610.0 million.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q1 2026

$1.1B

Net Income

Q1 2026

$350.3M

Operating Margin

Q1 2026

41.8%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+6.6% YoY

$3.84BFY 2025

FY22 $3.25BFY23 $3.11BFY24 $3.61BFY25 $3.84B

Net Income

-24.9% YoY

$1.18BFY 2025

FY22 $1.22BFY23 $1.02BFY24 $1.57BFY25 $1.18B

Operating Income

-18.7% YoY

$1.60BFY 2025

FY22 $1.59BFY23 $1.38BFY24 $1.97BFY25 $1.60B

Total Assets

+14.1% YoY

$15.00BFY 2025

FY22 $11.27BFY23 $12.47BFY24 $13.14BFY25 $15.00B

Total Debt

+8.9% YoY

$8.64BFY 2025

FY22 $6.79BFY23 $7.90BFY24 $7.94BFY25 $8.64B

Op. Cash Flow

+4.0% YoY

$2.22BFY 2025

FY22 $1.70BFY23 $1.66BFY24 $2.14BFY25 $2.22B

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$3.84B +6.6%	$3.61B +16.1%	$3.11B -4.5%	$3.25B +13.0%	$2.88B +3.8%	$2.77B
Net Income	$1.18B -24.9%	$1.57B +53.9%	$1.02B -16.0%	$1.22B +32.8%	$916.3M +73.9%	$527.0M
Operating Income	$1.60B -18.7%	$1.97B +42.9%	$1.38B -13.1%	$1.59B +18.8%	$1.34B +52.0%	$878.9M
Total Assets	$15.00B +14.1%	$13.14B +5.4%	$12.47B +10.6%	$11.27B -0.0%	$11.27B -4.7%	$11.83B
Total Debt	$8.64B +8.9%	$7.94B +0.5%	$7.90B +16.4%	$6.79B -1.8%	$6.91B -12.1%	$7.85B
Operating Cash Flow	$2.22B +4.0%	$2.14B +28.6%	$1.66B -2.4%	$1.70B -3.7%	$1.77B +7.9%	$1.64B

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Available Research

13F Pro tracks comprehensive data for Western Midstream Partners, LP including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of WES

ALPS ADVISORS INC
$1.6B36,629,600 sh
Invesco Ltd.
$1.1B24,122,314 sh
MORGAN STANLEY
$929.1M21,230,903 sh
Blackstone Inc.
$453.7M10,367,520 sh
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.
$378.0M8,637,568 sh
GOLDMAN SACHS GROUP INC
$373.2M8,527,559 sh
TORTOISE CAPITAL ADVISORS, L.L.C.
$284.7M6,506,154 sh
Neuberger Berman Group LLC
$270.9M6,190,369 sh
CHICKASAW CAPITAL MANAGEMENT LLC
$241.0M5,507,654 sh
KAYNE ANDERSON CAPITAL ADVISORS LP
$171.9M3,928,197 sh

Fund	Value	Shares
ALPS ADVISORS INC	$1.6B	36,629,600
Invesco Ltd.	$1.1B	24,122,314
MORGAN STANLEY	$929.1M	21,230,903
Blackstone Inc.	$453.7M	10,367,520
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	$378.0M	8,637,568
GOLDMAN SACHS GROUP INC	$373.2M	8,527,559
TORTOISE CAPITAL ADVISORS, L.L.C.	$284.7M	6,506,154
Neuberger Berman Group LLC	$270.9M	6,190,369
CHICKASAW CAPITAL MANAGEMENT LLC	$241.0M	5,507,654
KAYNE ANDERSON CAPITAL ADVISORS LP	$171.9M	3,928,197

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Is WES a good stock to buy?

13F Pro's AI-powered analysis of Western Midstream Partners, LP (WES) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Energy sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for WES are available on the WES stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. WES is classified as a large company.

Which hedge funds own WES?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling WES. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Western Midstream Partners, LP's investment landscape.