Western Gas Equity Partners, LP (NYSE:WGP) released its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03, Briefing.com reports. Western Gas Equity Partners, had a net margin of 16.96% and a return on equity of 8.99%. The firm had revenue of $574.70 million for the quarter, compared to analyst estimates of $530.80 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year.
Shares of Western Gas Equity Partners, (NYSE WGP) traded down $0.17 during mid-day trading on Friday, hitting $37.19. 109,100 shares of the stock traded hands, compared to its average volume of 157,586. Western Gas Equity Partners, has a 1-year low of $36.79 and a 1-year high of $47.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $8,179.34, a price-to-earnings ratio of 22.51 and a beta of 1.55.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 2nd will be issued a dividend of $0.5375 per share. This is a positive change from Western Gas Equity Partners,’s previous quarterly dividend of $0.53. This represents a $2.15 annualized dividend and a dividend yield of 5.78%. The ex-dividend date is Wednesday, November 1st. Western Gas Equity Partners,’s dividend payout ratio is presently 130.30%.
A number of equities analysts have commented on WGP shares. Zacks Investment Research raised shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday. Morgan Stanley reduced their price target on shares of Western Gas Equity Partners, from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. TheStreet cut shares of Western Gas Equity Partners, from a “b” rating to a “c+” rating in a report on Monday, October 16th. Scotiabank restated a “buy” rating and issued a $51.00 price objective on shares of Western Gas Equity Partners, in a report on Wednesday, October 25th. Finally, Seaport Global Securities began coverage on shares of Western Gas Equity Partners, in a report on Tuesday, October 10th. They set a “buy” rating and a $49.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Western Gas Equity Partners, presently has an average rating of “Buy” and an average price target of $49.67.
An institutional investor recently raised its position in Western Gas Equity Partners, stock. Northern Trust Corp raised its position in Western Gas Equity Partners, LP (NYSE:WGP) by 35.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,537 shares of the pipeline company’s stock after acquiring an additional 2,500 shares during the quarter. Northern Trust Corp’s holdings in Western Gas Equity Partners, were worth $410,000 at the end of the most recent quarter. 17.92% of the stock is currently owned by institutional investors and hedge funds.
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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