RBC Capital Maintains Hold Rating on Western Midstream (WES)

Western Midstream Partners, LP (NYSE:WES) is one of the 11 Best Pipeline and MLP Stocks to Buy in 2026.

RBC Capital’s Elvira Scotto reiterated the Hold rating on Western Midstream Partners, LP (NYSE:WES) and maintained a price target of $42 on January 28, 2026. In contrast, Morgan Stanley maintained its Sell rating on the stock. The firm’s analyst kept a price target of $41 on Western Midstream Partners, LP (NYSE:WES).

Separately, Western Midstream Partners, LP (NYSE:WES) declared its quarterly cash distribution of $0.91 per unit for the fourth quarter of 2025, matching the previous quarter’s payout. Shareholders as of February 2, 2026, will be eligible for the payout on February 13, 2026.

Before this, the company also announced renegotiations on key natural gas contracts in the Delaware Basin with Occidental and ConocoPhillips. Western Midstream Partners, LP (NYSE:WES) transitions from legacy cost-of-service structures to simplified, fixed-fee arrangements. In exchange for these fee concessions, Occidental will transfer 15.3 million WES common units, approximately valued at $610 million, back to the partnership for redemption. With this move, the company intends to solidify its revenue through the late 2030s and diversify its customer base.

Founded in 2007, Western Midstream Partners, LP (NYSE:WES) is a master limited partnership that primarily handles the gathering, processing, and transportation of natural gas, crude oil, and NGLs across major U.S. basins, leveraging fee-based contracts. It is headquartered in Texas.

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