Western Gas Partners (NYSE:WES) had its price objective upped by Stifel Nicolaus from $62.00 to $63.00 in a research report sent to investors on Thursday morning, Marketbeat.com reports. Stifel Nicolaus currently has a buy rating on the pipeline company’s stock.
WES has been the topic of a number of other research reports. Bank of America initiated coverage on Western Gas Partners in a research note on Tuesday, January 9th. They issued a neutral rating on the stock. Scotiabank reiterated a hold rating and issued a $58.00 target price on shares of Western Gas Partners in a research note on Monday, January 29th. Zacks Investment Research lowered Western Gas Partners from a hold rating to a sell rating in a research note on Wednesday, February 28th. Credit Suisse Group assumed coverage on Western Gas Partners in a research note on Thursday, January 4th. They set a neutral rating and a $49.00 price target on the stock. Finally, Royal Bank of Canada restated a buy rating and set a $61.00 price target on shares of Western Gas Partners in a research note on Tuesday, January 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $52.85.
WES stock traded up $0.62 during midday trading on Thursday, reaching $48.39. The company’s stock had a trading volume of 415,904 shares, compared to its average volume of 597,083. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.87. Western Gas Partners has a 1 year low of $40.44 and a 1 year high of $58.48. The firm has a market cap of $7,283.70, a price-to-earnings ratio of 37.22, a PEG ratio of 3.65 and a beta of 1.10.
Western Gas Partners (NYSE:WES) last released its earnings results on Tuesday, May 1st. The pipeline company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.10). Western Gas Partners had a return on equity of 15.31% and a net margin of 28.35%. The business had revenue of $437.17 million during the quarter, compared to analysts’ expectations of $622.09 million. During the same quarter in the previous year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. research analysts expect that Western Gas Partners will post 2.18 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Wednesday, May 2nd will be paid a dividend of $0.935 per share. The ex-dividend date of this dividend is Tuesday, May 1st. This represents a $3.74 annualized dividend and a dividend yield of 7.73%. This is a positive change from Western Gas Partners’s previous quarterly dividend of $0.92. Western Gas Partners’s dividend payout ratio (DPR) is currently 287.69%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in Western Gas Partners in the fourth quarter valued at about $204,000. Lucas Capital Management purchased a new position in Western Gas Partners in the fourth quarter valued at about $206,000. Frontier Investment Mgmt Co. purchased a new position in Western Gas Partners in the fourth quarter valued at about $231,000. First Capital Advisors Group LLC. purchased a new position in Western Gas Partners in the fourth quarter valued at about $231,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in Western Gas Partners in the fourth quarter valued at about $250,000. Institutional investors own 59.64% of the company’s stock.
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.
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