Zacks Investment Research lowered shares of Western Gas Equity Partners, LP (NYSE:WGP) from a strong-buy rating to a hold rating in a report issued on Tuesday.
According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “
Other equities research analysts have also recently issued reports about the company. Macquarie began coverage on Western Gas Equity Partners, in a research note on Friday, April 21st. They issued an outperform rating and a $51.00 price objective on the stock. Guggenheim began coverage on Western Gas Equity Partners, in a research note on Monday, April 17th. They issued a buy rating and a $60.00 price objective on the stock. BidaskClub upgraded Western Gas Equity Partners, from a strong sell rating to a sell rating in a research note on Tuesday, June 27th. Scotiabank set a $51.00 price objective on Western Gas Equity Partners, and gave the company a buy rating in a research note on Tuesday, July 11th. Finally, Deutsche Bank AG upgraded Western Gas Equity Partners, from a hold rating to a buy rating and boosted their price objective for the company from $50.00 to $54.00 in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Western Gas Equity Partners, has a consensus rating of Buy and a consensus price target of $49.18.
Western Gas Equity Partners, (NYSE WGP) opened at 42.76 on Tuesday. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 27.53 and a beta of 1.57. The company’s 50-day moving average is $42.50 and its 200-day moving average is $44.47. Western Gas Equity Partners, has a 52-week low of $35.52 and a 52-week high of $47.82.
Western Gas Equity Partners, (NYSE:WGP) last announced its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.04. Western Gas Equity Partners, had a net margin of 17.55% and a return on equity of 8.34%. The firm had revenue of $516.19 million during the quarter, compared to the consensus estimate of $501.83 million. On average, analysts expect that Western Gas Equity Partners, will post $1.59 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Western Gas Equity Partners, by 78.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock valued at $158,000 after buying an additional 1,505 shares in the last quarter. Taylor Wealth Management Partners boosted its stake in shares of Western Gas Equity Partners, by 1,050.0% in the first quarter. Taylor Wealth Management Partners now owns 4,600 shares of the pipeline company’s stock valued at $212,000 after buying an additional 4,200 shares in the last quarter. Level Four Advisory Services LLC boosted its stake in shares of Western Gas Equity Partners, by 9.8% in the first quarter. Level Four Advisory Services LLC now owns 6,986 shares of the pipeline company’s stock valued at $325,000 after buying an additional 622 shares in the last quarter. Signature Financial Management Inc. bought a new stake in shares of Western Gas Equity Partners, during the first quarter valued at $348,000. Finally, Hollencrest Securities LLC bought a new stake in shares of Western Gas Equity Partners, during the first quarter valued at $350,000. Hedge funds and other institutional investors own 18.71% of the company’s stock.
Western Gas Equity Partners, Company Profile
Western Gas Equity Partners, LP is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil.
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