Western Gas Partners (NYSE:WES) Earns Neutral Rating from Analysts at Bank of America

Equities researchers at Bank of America assumed coverage on shares of Western Gas Partners (NYSE:WES) in a research note issued to investors on Tuesday, January 9th, The Fly reports. The firm set a “neutral” rating on the pipeline company’s stock.

A number of other equities analysts have also recently commented on WES. Stifel Nicolaus raised shares of Western Gas Partners from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Wednesday, October 25th. Zacks Investment Research cut shares of Western Gas Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Credit Suisse Group initiated coverage on shares of Western Gas Partners in a research note on Thursday, January 4th. They issued a “neutral” rating and a $49.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Finally, TheStreet cut shares of Western Gas Partners from a “b-” rating to a “c+” rating in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Western Gas Partners currently has an average rating of “Hold” and an average price target of $57.33.

Western Gas Partners (WES) opened at $52.31 on Tuesday. Western Gas Partners has a 12 month low of $42.68 and a 12 month high of $67.44. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a market cap of $7,930.73, a P/E ratio of 42.25, a P/E/G ratio of 3.83 and a beta of 1.14.

Western Gas Partners (NYSE:WES) last released its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.16). Western Gas Partners had a return on equity of 14.68% and a net margin of 26.41%. The company had revenue of $574.70 million for the quarter, compared to analyst estimates of $536.01 million. During the same period in the previous year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. equities research analysts forecast that Western Gas Partners will post 1.44 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in WES. Stephens Inc. AR raised its stake in Western Gas Partners by 1.6% in the 2nd quarter. Stephens Inc. AR now owns 6,100 shares of the pipeline company’s stock valued at $341,000 after purchasing an additional 96 shares during the last quarter. Linscomb & Williams Inc. increased its stake in shares of Western Gas Partners by 2.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 9,886 shares of the pipeline company’s stock valued at $553,000 after acquiring an additional 241 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Western Gas Partners by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,954 shares of the pipeline company’s stock valued at $221,000 after acquiring an additional 265 shares during the last quarter. Comerica Bank increased its stake in shares of Western Gas Partners by 5.1% during the 2nd quarter. Comerica Bank now owns 6,817 shares of the pipeline company’s stock valued at $361,000 after acquiring an additional 330 shares during the last quarter. Finally, Veritable L.P. increased its stake in shares of Western Gas Partners by 6.2% during the 2nd quarter. Veritable L.P. now owns 13,101 shares of the pipeline company’s stock valued at $733,000 after acquiring an additional 768 shares during the last quarter. Institutional investors and hedge funds own 61.87% of the company’s stock.

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Western Gas Partners Company Profile

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.

The Fly

Analyst Recommendations for Western Gas Partners (NYSE:WES)

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