Western Gas Equity Partners LP (WGP) Given Consensus Recommendation of “Hold” by Brokerages

Western Gas Equity Partners LP (NYSE:WGP) has received a consensus rating of “Hold” from the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $39.50.

Several research analysts have commented on WGP shares. ValuEngine raised Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 12th. Stifel Nicolaus started coverage on Western Gas Equity Partners in a research report on Tuesday, September 18th. They set a “buy” rating and a $40.00 price target on the stock. Royal Bank of Canada cut their price target on Western Gas Equity Partners to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, October 4th. Wells Fargo & Co cut their price target on Western Gas Equity Partners from $43.00 to $39.00 and set a “market perform” rating on the stock in a research report on Monday, September 24th. Finally, Bank of America cut their price target on Western Gas Equity Partners from $39.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, October 5th.

Shares of NYSE WGP traded up $0.21 during midday trading on Thursday, hitting $29.45. 85,900 shares of the company’s stock were exchanged, compared to its average volume of 248,427. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.71 and a current ratio of 0.71. Western Gas Equity Partners has a twelve month low of $28.28 and a twelve month high of $42.92. The firm has a market capitalization of $6.41 billion, a PE ratio of 17.12 and a beta of 1.60.

Western Gas Equity Partners (NYSE:WGP) last issued its earnings results on Tuesday, October 30th. The pipeline company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.28). The business had revenue of $507.76 million for the quarter, compared to analyst estimates of $473.40 million. Western Gas Equity Partners had a return on equity of 9.96% and a net margin of 18.66%. Western Gas Equity Partners’s revenue was down 11.6% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. On average, sell-side analysts forecast that Western Gas Equity Partners will post 2.29 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 31st will be issued a $0.595 dividend. The ex-dividend date is Tuesday, October 30th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 8.08%. This is a positive change from Western Gas Equity Partners’s previous quarterly dividend of $0.58. Western Gas Equity Partners’s payout ratio is presently 138.37%.

Large investors have recently added to or reduced their stakes in the company. Cbre Clarion Securities LLC increased its holdings in shares of Western Gas Equity Partners by 21.2% in the second quarter. Cbre Clarion Securities LLC now owns 40,737 shares of the pipeline company’s stock valued at $1,456,000 after purchasing an additional 7,137 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Western Gas Equity Partners in the second quarter valued at approximately $897,000. Alps Advisors Inc. increased its holdings in shares of Western Gas Equity Partners by 21.8% in the second quarter. Alps Advisors Inc. now owns 35,599 shares of the pipeline company’s stock valued at $1,273,000 after purchasing an additional 6,360 shares during the period. Jennison Associates LLC acquired a new position in shares of Western Gas Equity Partners in the second quarter valued at approximately $17,301,000. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Western Gas Equity Partners by 0.8% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 350,361 shares of the pipeline company’s stock valued at $12,525,000 after purchasing an additional 2,900 shares during the period. 21.34% of the stock is currently owned by institutional investors and hedge funds.

About Western Gas Equity Partners

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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