Western Gas Partners, LP (NYSE:WES) has earned a consensus recommendation of “Hold” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $59.00.
WES has been the subject of several research reports. Scotiabank reissued a “hold” rating and issued a $61.00 target price on shares of Western Gas Partners in a report on Wednesday, October 25th. Barclays reduced their price objective on Western Gas Partners from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Morgan Stanley reduced their price objective on Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating for the company in a research note on Friday, November 17th. Seaport Global Securities assumed coverage on Western Gas Partners in a research note on Tuesday, October 10th. They set a “buy” rating and a $64.00 price objective for the company. Finally, TheStreet downgraded Western Gas Partners from a “b-” rating to a “c+” rating in a research note on Monday, November 6th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ffcm LLC acquired a new position in Western Gas Partners during the 3rd quarter worth approximately $113,000. Pathstone Family Office LLC acquired a new position in Western Gas Partners during the 2nd quarter worth approximately $136,000. Penserra Capital Management LLC acquired a new position in Western Gas Partners during the 3rd quarter worth approximately $142,000. The Manufacturers Life Insurance Company increased its position in 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 worth $221,000 after purchasing an additional 265 shares during the period. Finally, Biondo Investment Advisors LLC acquired a new position in Western Gas Partners during the 2nd quarter worth approximately $232,000. Institutional investors own 61.76% of the company’s stock.
Western Gas Partners (NYSE WES) traded up $0.01 during trading on Tuesday, hitting $53.86. The stock had a trading volume of 2,069,101 shares, compared to its average volume of 594,090. Western Gas Partners has a fifty-two week low of $42.68 and a fifty-two week high of $67.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $8,220.00, a P/E ratio of 40.50, a P/E/G ratio of 3.99 and a beta of 1.14.
Western Gas Partners (NYSE:WES) last posted its earnings results on Tuesday, October 31st. The pipeline company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.16). Western Gas Partners had a net margin of 26.41% and a return on equity of 14.68%. The firm had revenue of $574.70 million during the quarter, compared to analysts’ expectations of $536.01 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. sell-side analysts forecast that Western Gas Partners will post 1.44 earnings per share for the current year.
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About Western Gas Partners
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.
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