Western Gas Equity Partners, LP (NYSE:WGP) Stock Rating Lowered by TheStreet

Western Gas Equity Partners, LP (NYSE:WGP) was downgraded by stock analysts at TheStreet from a “b” rating to a “c+” rating in a report issued on Monday, October 16th.

WGP has been the subject of a number of other reports. Zacks Investment Research cut Western Gas Equity Partners, from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 18th. Deutsche Bank AG raised Western Gas Equity Partners, from a “hold” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $54.00 in a report on Thursday, July 13th. Scotiabank set a $51.00 price target on Western Gas Equity Partners, and gave the stock a “buy” rating in a report on Tuesday, July 11th. Finally, BidaskClub cut Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $50.40.

Western Gas Equity Partners, (WGP) opened at 38.54 on Monday. Western Gas Equity Partners, has a 12-month low of $37.44 and a 12-month high of $47.82. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 23.70 and a beta of 1.57. The company has a 50 day moving average of $40.05 and a 200-day moving average of $41.98.

Western Gas Equity Partners, (NYSE:WGP) last issued its quarterly earnings data on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $525.50 million during the quarter, compared to analysts’ expectations of $505.77 million. Western Gas Equity Partners, had a return on equity of 8.78% and a net margin of 17.50%. Western Gas Equity Partners,’s revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, equities research analysts forecast that Western Gas Equity Partners, will post $1.62 earnings per share for the current year.

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A number of hedge funds have recently bought and sold shares of WGP. Saratoga Research & Investment Management purchased a new stake in Western Gas Equity Partners, during the third quarter valued at about $146,000. BNP Paribas Arbitrage SA grew its position in Western Gas Equity Partners, by 78.6% during the first quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock valued at $158,000 after acquiring an additional 1,505 shares during the period. Clinton Group Inc. purchased a new stake in Western Gas Equity Partners, during the second quarter valued at about $201,000. Proficio Capital Partners LLC grew its position in Western Gas Equity Partners, by 10.8% during the second quarter. Proficio Capital Partners LLC now owns 5,342 shares of the pipeline company’s stock valued at $226,000 after acquiring an additional 519 shares during the period. Finally, Doliver Capital Advisors LP purchased a new stake in Western Gas Equity Partners, during the second quarter valued at about $241,000. 17.81% of the stock is owned by hedge funds and other institutional investors.

About Western Gas Equity Partners,

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.

Analyst Recommendations for Western Gas Equity Partners, (NYSE:WGP)

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