Western Gas Equity Partners (WGP) Now Covered by Bank of America

Bank of America started coverage on shares of Western Gas Equity Partners (NYSE:WGP) in a research note published on Tuesday, January 9th, The Fly reports. The brokerage issued a neutral rating on the pipeline company’s stock.

WGP has been the topic of several other research reports. Credit Suisse Group started coverage on shares of Western Gas Equity Partners in a research note on Thursday, January 4th. They issued an outperform rating and a $49.00 target price on the stock. 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. Morgan Stanley reduced their target price on shares of Western Gas Equity Partners from $45.00 to $40.00 and set an equal weight rating on the stock in a research note on Thursday, November 2nd. Scotiabank reaffirmed a buy rating and issued a $51.00 target price on shares of Western Gas Equity Partners in a research note on Wednesday, October 25th. Finally, UBS Group raised shares of Western Gas Equity Partners from a neutral rating to a buy rating and set a $44.00 price objective on the stock in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $48.58.

Shares of Western Gas Equity Partners (NYSE:WGP) traded down $0.49 during trading hours on Tuesday, reaching $39.53. 72,804 shares of the company’s stock were exchanged, compared to its average volume of 183,795. Western Gas Equity Partners has a 12-month low of $33.92 and a 12-month high of $47.82. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84. The company has a market cap of $8,932.47, a price-to-earnings ratio of 23.96 and a beta of 1.50.

Western Gas Equity Partners (NYSE:WGP) last issued its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $574.70 million for the quarter, compared to analyst estimates of $530.80 million. Western Gas Equity Partners had a net margin of 16.96% and a return on equity of 8.99%. The company’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS. analysts expect that Western Gas Equity Partners will post 1.7 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 1st will be paid a dividend of $0.5488 per share. This is a positive change from Western Gas Equity Partners’s previous quarterly dividend of $0.54. The ex-dividend date is Wednesday, January 31st. This represents a $2.20 annualized dividend and a yield of 5.55%. Western Gas Equity Partners’s dividend payout ratio (DPR) is presently 130.30%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its stake in Western Gas Equity Partners by 3.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 11,536,740 shares of the pipeline company’s stock worth $475,083,000 after acquiring an additional 343,660 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in Western Gas Equity Partners by 5.3% during the 4th quarter. Chickasaw Capital Management LLC now owns 5,350,896 shares of the pipeline company’s stock worth $198,839,000 after acquiring an additional 268,815 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Western Gas Equity Partners by 1.6% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 867,019 shares of the pipeline company’s stock worth $35,704,000 after buying an additional 13,337 shares during the period. Center Coast Capital Advisors LP raised its holdings in Western Gas Equity Partners by 5.0% during the 3rd quarter. Center Coast Capital Advisors LP now owns 864,477 shares of the pipeline company’s stock worth $35,599,000 after buying an additional 41,270 shares during the period. Finally, RR Advisors LLC raised its holdings in Western Gas Equity Partners by 5.3% during the 3rd quarter. RR Advisors LLC now owns 657,000 shares of the pipeline company’s stock worth $27,035,000 after buying an additional 33,000 shares during the period. 18.52% of the stock is currently owned by institutional investors and hedge funds.

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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.

The Fly

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

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