Western Gas Equity Partners, LP (NYSE:WGP) announced a dividend on Tuesday, July 18th, Fidelity reports. Investors of record on Monday, July 31st will be paid a dividend of 0.5275 per share by the pipeline company on Monday, August 21st. The ex-dividend date of this dividend is Thursday, July 27th. This is an increase from Western Gas Equity Partners,’s previous dividend of $0.45.
Western Gas Equity Partners, has raised its dividend payment by an average of 39.8% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Western Gas Equity Partners, has a payout ratio of 134.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Western Gas Equity Partners, to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.97 annual dividend with an expected future payout ratio of 87.2%.
Shares of Western Gas Equity Partners, (NYSE:WGP) traded up 0.02% during midday trading on Friday, reaching $41.54. The company had a trading volume of 114,772 shares. Western Gas Equity Partners, has a 12-month low of $35.52 and a 12-month high of $47.82. The company has a 50 day moving average of $42.44 and a 200 day moving average of $44.44. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 26.75 and a beta of 1.57.
Western Gas Equity Partners, (NYSE:WGP) last posted its earnings results on Tuesday, May 2nd. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates 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. Analysts anticipate that Western Gas Equity Partners, will post $1.64 EPS for the current year.
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WGP has been the topic of a number of recent research reports. Deutsche Bank AG raised Western Gas Equity Partners, from a “hold” rating to a “buy” rating and increased their target price for the company from $50.00 to $54.00 in a report on Thursday, July 13th. Scotiabank set a $51.00 price objective on Western Gas Equity Partners, and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Guggenheim assumed 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. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Western Gas Equity Partners, in a research note on Friday, April 7th. Finally, Zacks Investment Research raised Western Gas Equity Partners, from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Western Gas Equity Partners, has a consensus rating of “Buy” and an average price target of $49.09.
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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