Western Gas Equity (NYSE:WGP) is set to release its earnings data after the market closes on Monday, April 30th.
Western Gas Equity (NYSE:WGP) last posted its earnings results on Thursday, February 15th. The pipeline company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. Western Gas Equity had a net margin of 16.75% and a return on equity of 9.40%. The firm had revenue of $632.02 million during the quarter, compared to the consensus estimate of $573.10 million. During the same quarter last year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, analysts expect Western Gas Equity to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Western Gas Equity stock opened at $34.22 on Monday. Western Gas Equity has a fifty-two week low of $31.63 and a fifty-two week high of $46.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market capitalization of $7,491.89, a P/E ratio of 19.90 and a beta of 1.53.
Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Western Gas Equity from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Barclays downgraded shares of Western Gas Equity from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $51.00 to $45.00 in a report on Wednesday, January 17th. Bank of America assumed coverage on shares of Western Gas Equity in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Scotiabank reiterated a “buy” rating and issued a $49.00 target price on shares of Western Gas Equity in a report on Monday, January 29th. Finally, Credit Suisse Group assumed coverage on shares of Western Gas Equity in a report on Thursday, January 4th. They issued an “outperform” rating and a $49.00 target price for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Western Gas Equity currently has an average rating of “Hold” and a consensus target price of $41.80.
An institutional investor recently raised its position in Western Gas Equity stock. Northern Trust Corp grew its holdings in Western Gas Equity (NYSE:WGP) by 35.5% in the 2nd quarter, according to the company in 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 period. Northern Trust Corp’s holdings in Western Gas Equity were worth $410,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 17.88% of the company’s stock.
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Western Gas Equity Company Profile
Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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