Equities research analysts expect Western Gas Equity (NYSE:WGP) to post $0.42 earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Western Gas Equity’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.34. Western Gas Equity reported earnings of $0.35 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The firm is scheduled to report its next quarterly earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that Western Gas Equity will report full year earnings of $1.92 per share for the current financial year, with EPS estimates ranging from $1.43 to $2.28. For the next financial year, analysts anticipate that the firm will report earnings of $2.29 per share, with EPS estimates ranging from $1.61 to $2.78. Zacks’ EPS averages are an average based on a survey of research analysts that cover Western Gas Equity.
Western Gas Equity (NYSE:WGP) last released its earnings results on Thursday, February 15th. The pipeline company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $632.02 million during the quarter, compared to analyst estimates of $573.10 million. Western Gas Equity had a net margin of 16.75% and a return on equity of 9.40%. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS.
Several research analysts have recently weighed in on the stock. Seaport Global Securities lowered shares of Western Gas Equity from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $49.00 to $32.00 in a research note on Monday, April 9th. Bank of America cut their price objective on shares of Western Gas Equity from $41.00 to $35.00 and set a “neutral” rating for the company in a report on Tuesday, March 27th. Citigroup raised shares of Western Gas Equity from a “neutral” rating to a “buy” rating in a report on Tuesday, March 27th. Barclays set a $43.00 price target on shares of Western Gas Equity and gave the stock a “hold” rating in a report on Wednesday, March 7th. Finally, Zacks Investment Research raised shares of Western Gas Equity from a “sell” rating to a “hold” rating in a report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.08.
A number of hedge funds and other institutional investors have recently modified their holdings of WGP. Northern Trust Corp lifted its stake in shares of Western Gas Equity by 35.5% in the second quarter. Northern Trust Corp now owns 9,537 shares of the pipeline company’s stock valued at $410,000 after buying an additional 2,500 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Western Gas Equity by 152.6% in the third quarter. JPMorgan Chase & Co. now owns 71,778 shares of the pipeline company’s stock valued at $2,960,000 after buying an additional 43,364 shares in the last quarter. Cohen & Steers Inc. lifted its stake in shares of Western Gas Equity by 4.8% in the third quarter. Cohen & Steers Inc. now owns 148,844 shares of the pipeline company’s stock valued at $6,129,000 after buying an additional 6,792 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of Western Gas Equity by 3.1% in the third 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 in the last quarter. Finally, Institutional & Family Asset Management LLC bought a new position in shares of Western Gas Equity in the third quarter valued at $1,539,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.
WGP stock traded down $0.23 during midday trading on Tuesday, hitting $32.51. The company’s stock had a trading volume of 178,076 shares, compared to its average volume of 235,527. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Western Gas Equity has a twelve month low of $31.63 and a twelve month high of $46.47. The firm has a market capitalization of $7,167.87, a P/E ratio of 18.90 and a beta of 1.53.
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About Western Gas Equity
Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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