Western Gas Equity Partners (WGP) Upgraded at ValuEngine

ValuEngine upgraded shares of Western Gas Equity Partners (NYSE:WGP) from a strong sell rating to a sell rating in a research note released on Wednesday morning.

Several other analysts have also recently commented on WGP. Bank of America raised their price target on Western Gas Equity Partners from $35.00 to $39.00 and gave the company a neutral rating in a report on Tuesday, June 5th. Barclays raised their price target on Western Gas Equity Partners from $35.00 to $37.00 and gave the company a hold rating in a report on Tuesday, June 12th. Zacks Investment Research cut Western Gas Equity Partners from a hold rating to a strong sell rating in a report on Tuesday, July 17th. Citigroup raised their price target on Western Gas Equity Partners from $41.00 to $43.00 and gave the company a buy rating in a report on Tuesday, July 31st. Finally, Morgan Stanley reduced their price target on Western Gas Equity Partners from $41.00 to $40.00 and set an equal weight rating for the company in a report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $41.40.

WGP opened at $33.52 on Wednesday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $7.77 billion, a PE ratio of 19.49 and a beta of 1.70. Western Gas Equity Partners has a 12 month low of $31.63 and a 12 month high of $42.92.

Western Gas Equity Partners (NYSE:WGP) last posted its quarterly earnings results on Tuesday, July 31st. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.12). The business had revenue of $435.95 million during the quarter. Western Gas Equity Partners had a net margin of 17.52% and a return on equity of 9.42%. research analysts forecast that Western Gas Equity Partners will post 1.87 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Wednesday, August 1st were issued a dividend of $0.582 per share. The ex-dividend date was Tuesday, July 31st. This is a boost from Western Gas Equity Partners’s previous quarterly dividend of $0.45. This represents a $2.33 annualized dividend and a yield of 6.95%. Western Gas Equity Partners’s payout ratio is currently 135.47%.

Hedge funds have recently modified their holdings of the stock. Taylor Wealth Management Partners acquired a new position in Western Gas Equity Partners during the second quarter worth $111,000. Baldwin Brothers Inc. MA purchased a new position in Western Gas Equity Partners during the second quarter worth $194,000. Wetherby Asset Management Inc. purchased a new position in Western Gas Equity Partners during the second quarter worth $215,000. First Republic Investment Management Inc. purchased a new position in Western Gas Equity Partners during the first quarter worth $223,000. Finally, Stokes Capital Advisors LLC purchased a new position in Western Gas Equity Partners during the second quarter worth $234,000. 21.44% of the stock is owned by hedge funds and other institutional investors.

Western Gas Equity Partners Company Profile

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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Analyst Recommendations for Western Gas Equity Partners (NYSE:WGP)

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