Western Gas Equity Partners, LP (WGP) is Hollow Brook Wealth Management LLC’s 10th Largest Position

Hollow Brook Wealth Management LLC increased its position in Western Gas Equity Partners, LP (NYSE:WGP) by 72.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 116,777 shares of the pipeline company’s stock after purchasing an additional 48,901 shares during the period. Western Gas Equity Partners comprises about 3.5% of Hollow Brook Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Hollow Brook Wealth Management LLC owned 0.05% of Western Gas Equity Partners worth $4,809,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Linscomb & Williams Inc. boosted its stake in shares of Western Gas Equity Partners by 0.4% during the 2nd quarter. Linscomb & Williams Inc. now owns 10,325 shares of the pipeline company’s stock valued at $444,000 after buying an additional 45 shares during the period. Signature Financial Management Inc. boosted its stake in shares of Western Gas Equity Partners by 0.7% during the 2nd quarter. Signature Financial Management Inc. now owns 7,600 shares of the pipeline company’s stock valued at $327,000 after buying an additional 50 shares during the period. Keybank National Association OH boosted its stake in shares of Western Gas Equity Partners by 5.1% during the 2nd quarter. Keybank National Association OH now owns 9,085 shares of the pipeline company’s stock valued at $391,000 after buying an additional 440 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Western Gas Equity Partners by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,598 shares of the pipeline company’s stock valued at $284,000 after buying an additional 452 shares during the period. Finally, California Public Employees Retirement System boosted its stake in shares of Western Gas Equity Partners by 1.5% during the 2nd quarter. California Public Employees Retirement System now owns 34,300 shares of the pipeline company’s stock valued at $1,476,000 after buying an additional 500 shares during the period. 18.39% of the stock is owned by hedge funds and other institutional investors.

Western Gas Equity Partners, LP (NYSE WGP) traded down $0.12 during mid-day trading on Tuesday, hitting $36.38. 209,500 shares of the company traded hands, compared to its average volume of 158,866. 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, LP has a 1-year low of $33.92 and a 1-year high of $47.82. The firm has a market cap of $7,991.06, a price-to-earnings ratio of 21.99 and a beta of 1.50.

Western Gas Equity Partners (NYSE:WGP) last released its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. Western Gas Equity Partners had a net margin of 16.96% and a return on equity of 8.99%. The business had revenue of $574.70 million during the quarter, compared to analyst estimates of $530.80 million. During the same quarter in the previous year, the business earned $0.54 EPS. Western Gas Equity Partners’s quarterly revenue was up 19.3% compared to the same quarter last year. sell-side analysts anticipate that Western Gas Equity Partners, LP will post 1.7 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 2nd were paid a $0.5375 dividend. This represents a $2.15 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend was Wednesday, November 1st. This is a positive change from Western Gas Equity Partners’s previous quarterly dividend of $0.53. Western Gas Equity Partners’s payout ratio is presently 130.30%.

WGP has been the subject of a number of research reports. Zacks Investment Research lowered shares of Western Gas Equity Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Royal Bank Of Canada reissued a “buy” rating and set a $53.00 target price on shares of Western Gas Equity Partners in a research note on Monday, August 21st. Morgan Stanley decreased their target price on shares of Western Gas Equity Partners from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Scotiabank reissued a “buy” rating and set a $51.00 target price on shares of Western Gas Equity Partners in a research note on Wednesday, October 25th. Finally, BidaskClub raised shares of Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus 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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Institutional Ownership by Quarter for Western Gas Equity Partners (NYSE:WGP)

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