For its second fiscal quarter (ending June 30), Western Midstream Partners LP (NYSE: WES) has reported a 52% increase in E.P.S. from $0.64 a year ago to $0.97 in the current quarter. This result exceeded the consensus estimate of $0.86 by $0.11. For the latest four quarters through June 30, E.P.S. were $3.89 versus $2.68 for the same period a year ago — an increase of 45%.
Recent Price Action
Western Midstream Partners LP (NYSE: WES) stock rose modestly by 0.4% on 8/7/24. The stock closed at $39.07. Moreover, unusually high trading volume at 192% of normal accompanied the advance. The stock has been exceptionally strong relative to the market over the last nine months but has declined -4.0% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to exceed the cost of capital, WES is expected to continue to be a major Value Builder.
Western Midstream Partners has a current Value Trend Rating of B (Positive). This rating combines inconsistent signals from two proprietary PTR measures of a stock’s attractiveness. Western Midstream Partners has a neutral Appreciation Score of 51 but a very high Power Rating of 97, leading to the Positive Value Trend Rating.
Rating Review
In light of this encouraging new earnings information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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