Western Gas Equity (NYSE:WGP) had its price objective dropped by Barclays from $43.00 to $35.00 in a research report issued on Tuesday. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Barclays’ target price indicates a potential upside of 1.74% from the company’s current price.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Western Gas Equity from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Credit Suisse Group started coverage on Western Gas Equity in a research note on Thursday, January 4th. They issued an “outperform” rating and a $49.00 target price for the company. Bank of America started coverage on Western Gas Equity in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. UBS upgraded Western Gas Equity from a “neutral” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, January 3rd. Finally, Scotiabank reiterated a “buy” rating and issued a $49.00 target price on shares of Western Gas Equity in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $44.09.
Shares of NYSE:WGP opened at $34.40 on Tuesday. The stock has a market cap of $7,456.86, a price-to-earnings ratio of 19.80 and a beta of 1.53. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.89. Western Gas Equity has a 12 month low of $31.63 and a 12 month high of $46.47.
Western Gas Equity (NYSE:WGP) last posted its earnings results on Thursday, February 15th. The pipeline company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. Western Gas Equity had a return on equity of 9.40% and a net margin of 16.75%. The business had revenue of $632.02 million during the quarter, compared to analyst estimates of $573.10 million. During the same quarter last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. research analysts predict that Western Gas Equity will post 1.92 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Alps Advisors Inc. grew its stake in Western Gas Equity by 5.2% during the 4th quarter. Alps Advisors Inc. now owns 28,901 shares of the pipeline company’s stock valued at $1,074,000 after purchasing an additional 1,438 shares in the last quarter. Northern Trust Corp grew its stake in Western Gas Equity by 35.5% during the 2nd quarter. Northern Trust Corp now owns 9,537 shares of the pipeline company’s stock valued at $410,000 after purchasing an additional 2,500 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Western Gas Equity during the 4th quarter valued at approximately $119,000. Captrust Financial Advisors acquired a new stake in Western Gas Equity during the 4th quarter valued at approximately $120,000. Finally, Lucas Capital Management grew its stake in Western Gas Equity by 6.4% during the 4th quarter. Lucas Capital Management now owns 57,772 shares of the pipeline company’s stock valued at $2,129,000 after purchasing an additional 3,468 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.
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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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