First National Trust Co cut its stake in Western Gas Partners, LP (NYSE:WES) by 35.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,078 shares of the pipeline company’s stock after selling 6,000 shares during the quarter. First National Trust Co’s holdings in Western Gas Partners were worth $533,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WES. Ffcm LLC purchased a new position in Western Gas Partners during the 3rd quarter valued at about $113,000. Penserra Capital Management LLC acquired a new stake in Western Gas Partners in the 3rd quarter valued at about $142,000. The Manufacturers Life Insurance Company raised its position in Western Gas Partners by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,954 shares of the pipeline company’s stock valued at $221,000 after purchasing an additional 265 shares in the last quarter. Whalerock Point Partners LLC acquired a new stake in Western Gas Partners in the 4th quarter valued at about $264,000. Finally, Suntrust Banks Inc. raised its position in Western Gas Partners by 67.5% in the 2nd quarter. Suntrust Banks Inc. now owns 5,570 shares of the pipeline company’s stock valued at $311,000 after purchasing an additional 2,244 shares in the last quarter. Institutional investors and hedge funds own 62.08% of the company’s stock.
Western Gas Partners, LP (NYSE:WES) traded down $0.88 during trading on Friday, hitting $47.21. The company had a trading volume of 1,590,193 shares, compared to its average volume of 699,620. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 0.91. Western Gas Partners, LP has a 12-month low of $42.68 and a 12-month high of $67.44. The stock has a market capitalization of $7,204.34, a P/E ratio of 38.38, a PEG ratio of 3.48 and a beta of 1.09.
Several equities research analysts have recently weighed in on the company. Morgan Stanley cut their target price on Western Gas Partners from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Zacks Investment Research raised Western Gas Partners from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Saturday, October 28th. Credit Suisse Group began coverage on Western Gas Partners in a research report on Thursday, January 4th. They set a “neutral” rating and a $49.00 price target on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $61.00 price target on shares of Western Gas Partners in a research report on Tuesday, January 16th. Finally, Bank of America initiated coverage on Western Gas Partners in a research note on Tuesday, January 9th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Western Gas Partners has a consensus rating of “Hold” and a consensus target price of $57.08.
About Western Gas Partners
Western Gas Partners, LP is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. The Company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil in the United States.
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