Advisory Research Inc. lessened its stake in Western Gas Equity Partners LP (NYSE:WGP) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,318,551 shares of the pipeline company’s stock after selling 16,210 shares during the quarter. Advisory Research Inc. owned 0.60% of Western Gas Equity Partners worth $48,997,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in WGP. Neuberger Berman Group LLC increased its stake in Western Gas Equity Partners by 3.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 11,536,740 shares of the pipeline company’s stock valued at $475,083,000 after buying an additional 343,660 shares during the period. Chickasaw Capital Management LLC grew its position in Western Gas Equity Partners by 5.3% in the fourth 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 in the last quarter. ING Groep NV grew its position in Western Gas Equity Partners by 360.0% in the third quarter. ING Groep NV now owns 230,000 shares of the pipeline company’s stock worth $9,471,000 after acquiring an additional 180,000 shares in the last quarter. First Trust Advisors LP bought a new stake in Western Gas Equity Partners in the third quarter worth approximately $3,957,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in Western Gas Equity Partners in the third quarter worth approximately $2,878,000. Hedge funds and other institutional investors own 18.40% of the company’s stock.
Shares of Western Gas Equity Partners LP (NYSE WGP) opened at $39.90 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $8,740.00, a price-to-earnings ratio of 24.18 and a beta of 1.46. Western Gas Equity Partners LP has a 1-year low of $33.92 and a 1-year high of $47.82.
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 issued a dividend of $0.5488 per share. This is an increase from Western Gas Equity Partners’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Wednesday, January 31st. Western Gas Equity Partners’s dividend payout ratio is currently 132.73%.
Several research firms have commented on WGP. Zacks Investment Research downgraded shares of Western Gas Equity Partners from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Barclays downgraded shares of Western Gas Equity Partners from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $51.00 to $45.00 in a research report on Wednesday, January 17th. Bank of America began coverage on shares of Western Gas Equity Partners in a research report on Tuesday, January 9th. They issued a “neutral” rating for the company. Scotiabank reissued a “buy” rating and issued a $49.00 target price on shares of Western Gas Equity Partners in a research report on Monday, January 29th. Finally, Credit Suisse Group began coverage on shares of Western Gas Equity Partners in a research report on Thursday, January 4th. They issued an “outperform” rating and a $49.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $48.58.
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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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