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Western Midstream Partners

DB:1WG
Snowflake Description

Very undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1WG
DB
$1B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids (NGLs), and crude oil primarily in the United States. The last earnings update was 33 days ago. More info.


Add to Portfolio Compare Print
  • Western Midstream Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Western Midstream Partners has significant price volatility in the past 3 months.
1WG Share Price and Events
7 Day Returns
-24.8%
DB:1WG
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-90.1%
DB:1WG
21.9%
DE Oil and Gas
-17.7%
DE Market
1WG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Western Midstream Partners (1WG) -24.8% -75.3% -84.8% -90.1% -93.5% -94.9%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • 1WG underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • 1WG underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
1WG
Industry
5yr Volatility vs Market

Value

 Is Western Midstream Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Western Midstream Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Western Midstream Partners.

DB:1WG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:1WG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 21%) (576.81%))
3.338
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:1WG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Western Midstream Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:1WG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 1,136.00 Analyst x1 1,028.15
2021 1,211.00 Analyst x1 991.97
2022 1,259.46 Est @ 4% 933.71
2023 1,293.26 Est @ 2.68% 867.75
2024 1,316.04 Est @ 1.76% 799.20
2025 1,330.73 Est @ 1.12% 731.40
2026 1,339.57 Est @ 0.66% 666.36
2027 1,344.24 Est @ 0.35% 605.19
2028 1,345.94 Est @ 0.13% 548.43
2029 1,345.56 Est @ -0.03% 496.22
Present value of next 10 years cash flows $7,668.00
DB:1WG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $1,345.56 × (1 + -0.39%) ÷ (10.49% – -0.39%)
$12,319.02
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $12,319.02 ÷ (1 + 10.49%)10
$4,543.04
DB:1WG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $7,668.00 + $4,543.04
$12,211.04
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $12,211.04 / 443.97
$27.5
DB:1WG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:1WG represents 0.90177x of NYSE:WES
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90177x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 27.50 x 0.90177
€24.80
Value per share (EUR) From above. €24.80
Current discount Discount to share price of €2.80
= -1 x (€2.80 - €24.80) / €24.80
88.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Western Midstream Partners is available for.
Intrinsic value
>50%
Share price is €2.8 vs Future cash flow value of €24.8
Current Discount Checks
For Western Midstream Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Western Midstream Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Western Midstream Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Western Midstream Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Western Midstream Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:1WG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.59
NYSE:WES Share Price ** NYSE (2020-03-30) in USD $3.11
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Western Midstream Partners.

DB:1WG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:WES Share Price ÷ EPS (both in USD)

= 3.11 ÷ 1.59

1.95x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Western Midstream Partners is good value based on earnings compared to the Europe Oil and Gas industry average.
  • Western Midstream Partners is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Western Midstream Partners's expected growth come at a high price?
Raw Data
DB:1WG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 1.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
7.4%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:1WG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 1.95x ÷ 7.4%

0.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Western Midstream Partners is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Western Midstream Partners's assets?
Raw Data
DB:1WG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $7.23
NYSE:WES Share Price * NYSE (2020-03-30) in USD $3.11
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:1WG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:WES Share Price ÷ Book Value per Share (both in USD)

= 3.11 ÷ 7.23

0.43x

* Primary Listing of Western Midstream Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Western Midstream Partners is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess Western Midstream Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Western Midstream Partners has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Western Midstream Partners expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Western Midstream Partners expected to grow at an attractive rate?
  • Western Midstream Partners's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Western Midstream Partners's earnings growth is positive but not above the Germany market average.
  • Western Midstream Partners's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:1WG Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:1WG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 7.4%
DB:1WG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 0.4%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:1WG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:1WG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 1,137
2023-12-31 1,061
2022-12-31 2,772 1,256 845 4
2021-12-31 2,831 1,359 845 6
2020-12-31 2,888 1,465 909 6
2020-03-31
DB:1WG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 2,746 1,324 662
2019-09-30 2,406 1,078 551
2019-06-30 2,328 1,074 494
2019-03-31 2,161 1,060 358
2018-12-31 2,300 1,348 369
2018-09-30 2,239 1,220 269
2018-06-30 2,226 1,095 301
2018-03-31 2,233 1,006 402
2017-12-31 2,430 1,043 377
2017-09-30 2,127 901 361
2017-06-30 2,034 953 356
2017-03-31 1,937 869 340

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Western Midstream Partners's earnings are expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).
  • Western Midstream Partners's revenue is expected to grow by 0.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:1WG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Western Midstream Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1WG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 2.50 2.50 2.50 1.00
2023-12-31 2.34 2.34 2.34 1.00
2022-12-31 1.86 2.52 1.47 6.00
2021-12-31 1.84 2.41 1.52 9.00
2020-12-31 1.99 2.21 1.73 9.00
2020-03-31
DB:1WG Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.59
2019-09-30 1.55
2019-06-30 1.66
2019-03-31 1.50
2018-12-31 1.69
2018-09-30 1.23
2018-06-30 1.38
2018-03-31 1.83
2017-12-31 1.72
2017-09-30 1.65
2017-06-30 1.63
2017-03-31 1.55

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Western Midstream Partners is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Western Midstream Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Western Midstream Partners has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Western Midstream Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Western Midstream Partners's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Western Midstream Partners has delivered over 20% year on year earnings growth in the past 5 years.
  • Western Midstream Partners's 1-year earnings growth exceeds its 5-year average (79.3% vs 25.4%)
  • Western Midstream Partners's earnings growth has exceeded the Europe Oil and Gas industry average in the past year (79.3% vs -4.1%).
Earnings and Revenue History
Western Midstream Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Western Midstream Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:1WG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 2,746.17 662.33 114.59
2019-09-30 2,406.21 551.29 99.93
2019-06-30 2,328.08 493.67 85.18
2019-03-31 2,161.11 357.97 70.75
2018-12-31 2,299.66 369.43 67.20
2018-09-30 2,239.05 268.57 60.52
2018-06-30 2,225.85 301.18 57.42
2018-03-31 2,233.22 401.67 53.02
2017-12-31 2,429.61 376.61 53.95
2017-09-30 2,127.16 360.78 50.33
2017-06-30 2,034.11 355.98 49.52
2017-03-31 1,937.32 339.90 50.21
2016-12-31 1,804.27 334.45 49.25
2016-09-30 1,710.01 219.98 47.96
2016-06-30 1,660.88 217.95 46.73
2016-03-31 1,698.21 198.02 45.03
2015-12-31 1,752.07 86.12 44.43
2015-09-30 1,702.23 174.06 44.23
2015-06-30 1,627.24 144.64 42.46
2015-03-31 1,518.63 130.96 41.48
2014-12-31 1,533.38 222.87 41.78
2014-09-30 1,295.24 214.50 36.56
2014-06-30 1,211.23 198.89 35.40
2014-03-31 1,105.25 179.11 34.41
2013-12-31 1,085.48 155.53 35.07
2013-09-30 977.65 54.50 89.21
2013-06-30 934.79 29.47 96.28

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Western Midstream Partners has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Western Midstream Partners used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Western Midstream Partners's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Western Midstream Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Western Midstream Partners has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Western Midstream Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Western Midstream Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Western Midstream Partners's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Western Midstream Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Western Midstream Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Western Midstream Partners Company Filings, last reported 3 months ago.

DB:1WG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,345.29 7,951.57 99.96
2019-09-30 3,335.08 7,901.40 117.43
2019-06-30 3,491.21 7,592.05 95.80
2019-03-31 3,591.54 7,252.01 100.05
2018-12-31 4,892.68 5,242.87 92.14
2018-09-30 3,616.64 4,594.46 132.88
2018-06-30 3,675.66 4,205.35 55.32
2018-03-31 3,849.10 4,204.35 523.69
2017-12-31 3,944.88 3,492.71 79.59
2017-09-30 3,993.93 3,371.89 153.04
2017-06-30 4,036.46 3,281.07 188.83
2017-03-31 4,042.16 3,120.26 122.65
2016-12-31 4,110.77 3,119.46 359.07
2016-09-30 4,152.33 2,935.40 146.35
2016-06-30 4,133.79 2,960.00 159.67
2016-03-31 3,725.11 3,049.33 111.46
2015-12-31 3,920.10 2,690.65 99.69
2015-09-30 3,795.89 2,587.19 74.84
2015-06-30 3,761.44 2,677.02 89.26
2015-03-31 3,759.13 2,533.00 59.82
2014-12-31 4,133.86 2,424.10 67.21
2014-09-30 2,693.96 2,082.91 78.22
2014-06-30 2,694.34 2,022.88 122.14
2014-03-31 2,622.84 1,912.84 94.12
2013-12-31 2,904.03 1,418.17 113.09
2013-09-30 2,286.61 1,518.11 57.08
2013-06-30 2,286.24 1,418.36 92.41
  • Western Midstream Partners's level of debt (237.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (58.7% vs 237.7% today).
  • Debt is not well covered by operating cash flow (16.7%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Western Midstream Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Western Midstream Partners has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Western Midstream Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
80%
Current annual income from Western Midstream Partners dividends. Estimated to be 51.78% next year.
If you bought €2,000 of Western Midstream Partners shares you are expected to receive €1,600 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Western Midstream Partners's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Western Midstream Partners's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:1WG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:1WG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 1.06 2.00
2023-12-31 1.19 2.00
2022-12-31 1.14 7.00
2021-12-31 1.75 12.00
2020-12-31 1.96 10.00
2020-03-31
DB:1WG Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-27 2.488 44.764
2019-10-17 2.480 13.222
2019-07-18 2.472 9.894
2019-04-22 2.440 8.027
2019-01-22 2.410 7.473
2018-10-17 2.380 8.036
2018-07-18 2.330 6.803
2018-04-18 2.275 6.394
2018-01-19 2.195 6.055
2017-10-12 2.150 5.666
2017-07-18 2.110 5.205
2017-04-13 1.965 4.518
2017-01-17 1.850 4.056
2016-10-18 1.790 4.156
2016-07-20 1.735 4.522
2016-05-03 1.695 4.257
2016-01-21 1.615 5.395
2015-10-14 1.525 4.150
2015-07-16 1.455 2.887
2015-04-20 1.370 2.222
2015-01-22 1.250 2.051
2014-10-20 1.165 1.934
2014-07-18 1.085 1.843
2014-04-17 1.000 1.856
2014-01-21 0.925 2.089
2013-11-07 0.855 2.122
2013-11-06 0.855 2.257
2013-07-19 0.790 2.059
2013-04-17 0.715 1.864
2013-01-22 0.660 1.979

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Western Midstream Partners has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Western Midstream Partners only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Western Midstream Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.6x coverage).
X
Income/ dividend checks
We assess Western Midstream Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Western Midstream Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Western Midstream Partners has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Western Midstream Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Ure
AGE 42
TENURE AS CEO 0.6 years
CEO Bio

Mr. Michael P. Ure serves as President, Chief Executive Officer and Director at Western Midstream Operating GP, LLC, the General Partner of Western Midstream Operating LP since August 8, 2019. Mr. Ure previously served as Senior Vice President of Business Development for Occidental.

CEO Compensation
  • Insufficient data for Michael to compare compensation growth.
  • Insufficient data for Michael to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Western Midstream Partners management team in years:

0.4
Average Tenure
45.5
Average Age
  • The average tenure for the Western Midstream Partners management team is less than 2 years, this suggests a new team.
Management Team

Michael Ure

TITLE
President
AGE
42
TENURE
0.6 yrs

Mike Pearl

TITLE
Senior VP & CFO
AGE
47
TENURE
0.4 yrs

Craig Collins

TITLE
Senior VP & COO
AGE
46
TENURE
0.6 yrs

Catherine Green

TITLE
VP & Chief Accounting Officer
AGE
45
TENURE
0.4 yrs

Kristen Shults

TITLE
Vice President of Investor Relations & Communications

John Montanti

TITLE
Vice President
TENURE
1 yrs

Chuck Griffie

TITLE
Senior Vice President of Operations & Engineering
AGE
45
TENURE
0.4 yrs

Bob Bourne

TITLE
Senior VP & Chief Commercial Officer
AGE
63
TENURE
0.4 yrs

Jack Spinks

TITLE
Manager of Investor Relations
Board of Directors Tenure

Average tenure and age of the Western Midstream Partners board of directors in years:

0.8
Average Tenure
60
Average Age
  • The average tenure for the Western Midstream Partners board of directors is less than 3 years, this suggests a new board.
Board of Directors

Glenn Vangolen

TITLE
Chairman of the Board
AGE
60
TENURE
0.6 yrs

Michael Ure

TITLE
President
AGE
42
TENURE
0.6 yrs

David Tudor

TITLE
Director of Western Gas Equity Holding LLC
COMPENSATION
$242K
AGE
60
TENURE
7.3 yrs

Craig Stewart

TITLE
Director of Western Gas Equity Holdings
COMPENSATION
$464K
AGE
64
TENURE
7.2 yrs

Tom Hix

TITLE
Director of Western Gas Equity Holdings
COMPENSATION
$494K
AGE
71
TENURE
7.2 yrs

James Crane

TITLE
Director of Western Gas Equity Holdings LLC
TENURE
1 yrs

Steven Arnold

TITLE
Director of Western Gas Equity Holdings
AGE
58
TENURE
1 yrs

Marcia Backus

TITLE
Director
AGE
65
TENURE
0.6 yrs

Jeff Bennett

TITLE
Director
AGE
68
TENURE
0.6 yrs

Oscar Brown

TITLE
Director
AGE
48
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Western Midstream Partners individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
10. Mar 20 Buy Michael Ure Individual 10. Mar 20 10. Mar 20 10,000 €4.81 €48,124
10. Mar 20 Buy James Crane Individual 10. Mar 20 10. Mar 20 340,700 €5.48 €1,765,546
05. Mar 20 Buy James Crane Individual 03. Mar 20 03. Mar 20 71,500 €12.29 €878,619
22. Nov 19 Buy James Crane Individual 06. Aug 19 21. Nov 19 160,931 €22.57 €3,133,807
23. Sep 19 Sell David Tudor Individual 20. Sep 19 20. Sep 19 -5,000 €24.54 €-122,702
X
Management checks
We assess Western Midstream Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Western Midstream Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Western Midstream Partners, LP, together with its subsidiaries, engages in gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids (NGLs), and crude oil primarily in the United States. It is also involved in gathering and disposing of produced water; and buying and selling of natural gas, NGLs, and condensate. Western Midstream Holdings, LLC operates as the general partner of the company. The company was formerly known as Western Gas Equity Partners, LP and changed its name to Western Midstream Partners, LP in February 2019. The company was founded in 2007 and is headquartered in The Woodlands, Texas. Western Midstream Partners, LP is a subsidiary of Anadarko Petroleum Corporation.

Details
Name: Western Midstream Partners, LP
1WG
Exchange: DB
Founded: 2007
$1,251,512,780
443,971,409
Website: http://www.westernmidstream.com
Address: Western Midstream Partners, LP
9950 Woodloch Forest Drive,
The Woodlands,
Texas, 77380,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE WES Common Units New York Stock Exchange US USD 07. Dec 2012
DB 1WG Common Units Deutsche Boerse AG DE EUR 07. Dec 2012
Number of employees
Current staff
Staff numbers
0
Western Midstream Partners employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 01:30
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/02/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.