Western Gas Equity Partners, LP (NYSE:WGP) announced a quarterly dividend on Monday, October 16th, Wall Street Journal reports. Investors of record on Thursday, November 2nd will be paid a dividend of 0.5375 per share by the pipeline company on Wednesday, November 22nd. This represents a $2.15 annualized dividend and a yield of 5.78%. The ex-dividend date is Wednesday, November 1st. This is an increase from Western Gas Equity Partners,’s previous quarterly dividend of $0.53.
Western Gas Equity Partners, has raised its dividend payment by an average of 39.8% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Western Gas Equity Partners, has a dividend payout ratio of 140.5% 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 research analysts expect Western Gas Equity Partners, to earn $2.05 per share next year, which means the company may not be able to cover its $2.15 annual dividend with an expected future payout ratio of 104.9%.
Shares of Western Gas Equity Partners, (NYSE:WGP) traded down $0.17 during mid-day trading on Friday, reaching $37.19. The company had a trading volume of 109,100 shares, compared to its average volume of 157,586. The stock has a market capitalization of $8,179.34, a PE ratio of 22.51 and a beta of 1.55. Western Gas Equity Partners, has a 12 month low of $36.79 and a 12 month 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.
Western Gas Equity Partners, (NYSE:WGP) last released its earnings results on Tuesday, October 31st. The pipeline company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Western Gas Equity Partners, had a return on equity of 8.99% and a net margin of 16.96%. The firm had revenue of $574.70 million for the quarter, compared to analysts’ expectations of $530.80 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. equities research analysts predict that Western Gas Equity Partners, will post 1.67 earnings per share for the current year.
An institutional investor recently raised its position in Western Gas Equity Partners, stock. Northern Trust Corp lifted its stake in Western Gas Equity Partners, LP (NYSE:WGP) by 35.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,537 shares of the pipeline company’s stock after buying an additional 2,500 shares during the quarter. Northern Trust Corp’s holdings in Western Gas Equity Partners, were worth $410,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 17.92% of the company’s stock.
A number of equities research analysts have recently commented on the company. Zacks Investment Research cut Western Gas Equity Partners, from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley lowered their price target on Western Gas Equity Partners, from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Scotiabank reaffirmed a “buy” rating and set a $51.00 price target on shares of Western Gas Equity Partners, in a report on Wednesday, October 25th. TheStreet downgraded Western Gas Equity Partners, from a “b” rating to a “c+” rating in a report on Monday, October 16th. Finally, Seaport Global Securities began coverage on Western Gas Equity Partners, in a report on Tuesday, October 10th. They set a “buy” rating and a $49.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $49.67.
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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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