Zimmer Partners LP lowered its position in Western Gas Partners LP (NYSE:WES) by 98.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,852 shares of the pipeline company’s stock after selling 1,239,334 shares during the period. Zimmer Partners LP’s holdings in Western Gas Partners were worth $1,147,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Ffcm LLC acquired a new stake in Western Gas Partners in the third quarter valued at about $113,000. Lucas Capital Management acquired a new stake in shares of Western Gas Partners during the 4th quarter valued at approximately $206,000. The Manufacturers Life Insurance Company lifted its position 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 period. First Capital Advisors Group LLC. acquired a new stake in shares of Western Gas Partners during the 4th quarter valued at approximately $231,000. Finally, Frontier Investment Mgmt Co. acquired a new stake in shares of Western Gas Partners during the 4th quarter valued at approximately $231,000. Hedge funds and other institutional investors own 58.95% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Barclays reiterated a “hold” rating and set a $53.00 price target (down from $54.00) on shares of Western Gas Partners in a research report on Wednesday, March 7th. Zacks Investment Research downgraded shares of Western Gas Partners from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. UBS reiterated a “buy” rating and set a $61.00 price target (up from $59.00) on shares of Western Gas Partners in a research report on Friday, March 2nd. Credit Suisse Group assumed coverage on shares of Western Gas Partners in a research report on Thursday, January 4th. They set a “neutral” rating and a $49.00 price target for the company. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $61.00 price target on shares of Western Gas Partners in a research report on Tuesday, January 16th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $55.93.
Shares of WES opened at $42.47 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.60 and a quick ratio of 0.60. Western Gas Partners LP has a 1-year low of $40.44 and a 1-year high of $61.78. The company has a market cap of $6,503.90, a PE ratio of 32.67, a price-to-earnings-growth ratio of 3.23 and a beta of 1.13.
Western Gas Partners (NYSE:WES) last released its earnings results on Thursday, February 15th. The pipeline company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.08). The firm had revenue of $632.02 million during the quarter, compared to analysts’ expectations of $569.17 million. Western Gas Partners had a return on equity of 14.38% and a net margin of 25.24%. The firm’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. sell-side analysts expect that Western Gas Partners LP will post 2.2 earnings per share for the current fiscal year.
WARNING: “Western Gas Partners LP (NYSE:WES) Holdings Reduced by Zimmer Partners LP” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/04/07/zimmer-partners-lp-trims-stake-in-western-gas-partners-lp-wes.html.
Western Gas Partners Company Profile
Western Gas Partners, LP acquires, develops, owns, and operates midstream energy assets in the Rocky Mountains, North-central Pennsylvania, and Texas. It is involved in gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil. Western Gas Holdings, LLC serves as the general partner of Western Gas Partners, LP.
Receive News & Ratings for Western Gas Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Gas Partners and related companies with MarketBeat.com's FREE daily email newsletter.