Western Midstream Partners, LP
WESEnergy · Stock · quarterly payer
Forward Yield
7.60%
Annual Dividend
$3.72
Payout Ratio
116%
5-Yr Growth
23.7%
Ex-Date
Jul 31, 2026
Frequency
Quarterly
Summary
As of September 2026, Western Midstream Partners, LP (WES) yields 7.60% ($3.72 per share annually), with a blended fair-value estimate of $72.31 — +50% upside, so it screens as undervalued. Dividend safety grade: C (54/100). 5 years of dividend growth.
Is WES a good dividend stock?
MixedWestern Midstream Partners, LP (WES) pays a quarterly dividend yielding 7.60% ($3.72/yr), with 5 years of growth and a dividend-safety grade of C. The picture is mixed — the dividend pays, but safety or growth signals are weaker than ideal.
Advantages
- Strong 23.7% 5-yr dividend growth
- 130% total price return over 5 years
Risks
- Cut its dividend in 2020
- Elevated payout ratio (116%)
Key Data
- Dividend Yield
- 7.60%
- Payout Ratio
- 116%
- Annual Dividend
- $3.72
- 5-Yr Avg Growth
- 23.7%
- Ex-Dividend Date
- Jul 31, 2026
- Years of Growth
- 5
- Frequency
- quarterly
- Beta
- 0.66
- Market Cap
- $20.3B
- P/E Ratio
- 15.6
- 5-Yr Total Return
- 130%
- 52-Week Range
- $36.90 – $50.07
- Dividend Safety
- C · 54/100
- Ever Cut?
- Yes (2020)
Frequently Asked Questions
WES Price — Last 12 Months
Daily close
Price Return
1 Year
+23%
3 Years
+77%
5 Years
+130%
52-Week Range
$36.90 – $50.07
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is WES worth?
Undervaluedhigh confidenceOur blended fair-value estimate for Western Midstream Partners, LP is $72.31 per share, versus a market price of $48.30. That implies 50% of upside — a margin of safety of about 33%.
Fair Value
$72.31
Current Price
$48.30
Upside
+50%
Margin of Safety
33%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 6.3% annual free-cash-flow growth. We model 8.4% — below our estimate, leaving room for upside if the business executes.
Assumptions: 7.6% discount rate (CAPM), 8.4% stage-1 growth, 2.5% terminal growth, $3.19 EPS, $3.72 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
WES Dividend Safety Score
Borderline
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Jul 31, 2026 | — | $0.9300 | regular |
| May 1, 2026 | — | $0.9300 | regular |
| Feb 2, 2026 | — | $0.9100 | regular |
| Oct 31, 2025 | — | $0.9100 | regular |
| Aug 1, 2025 | — | $0.9100 | regular |
| May 2, 2025 | — | $0.9100 | regular |
| Feb 3, 2025 | — | $0.8750 | regular |
| Nov 1, 2024 | — | $0.8750 | regular |
| Aug 1, 2024 | — | $0.8750 | regular |
| Apr 30, 2024 | — | $0.8750 | regular |
| Jan 31, 2024 | — | $0.5750 | regular |
| Oct 31, 2023 | — | $0.5750 | regular |
| Jul 28, 2023 | — | $0.5630 | regular |
| Apr 28, 2023 | — | $0.8560 | regular |
Income Calculator
At $3.72 / yr per share
