Brokerages Set Western Gas Partners, LP (WES) Target Price at $52.69

Shares of Western Gas Partners, LP (NYSE:WES) have been given a consensus recommendation of “Hold” by the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $52.92.

WES has been the subject of several research reports. Wells Fargo & Co dropped their price objective on shares of Western Gas Partners from $51.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, September 24th. Morgan Stanley dropped their price objective on shares of Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating for the company in a research note on Friday, August 17th. Barclays increased their price objective on shares of Western Gas Partners from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 29th. ValuEngine downgraded shares of Western Gas Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Credit Suisse Group initiated coverage on shares of Western Gas Partners in a research note on Thursday, October 11th. They issued a “neutral” rating and a $45.00 price objective for the company.

NYSE:WES traded down $0.62 on Monday, hitting $46.29. The company had a trading volume of 1,272,535 shares, compared to its average volume of 882,802. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 35.61 and a beta of 1.28. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.75 and a quick ratio of 0.75. Western Gas Partners has a 52 week low of $38.35 and a 52 week high of $54.40.

Western Gas Partners (NYSE:WES) last issued its quarterly earnings data on Tuesday, October 30th. The pipeline company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.28). The company had revenue of $507.76 million during the quarter, compared to the consensus estimate of $472.96 million. Western Gas Partners had a net margin of 24.11% and a return on equity of 12.78%. Western Gas Partners’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, analysts expect that Western Gas Partners will post 1.28 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.965 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $3.86 annualized dividend and a dividend yield of 8.34%. This is an increase from Western Gas Partners’s previous quarterly dividend of $0.95. Western Gas Partners’s dividend payout ratio (DPR) is presently 296.92%.

Several hedge funds have recently added to or reduced their stakes in the company. Frontier Investment Mgmt Co. raised its stake in shares of Western Gas Partners by 24.0% during the third quarter. Frontier Investment Mgmt Co. now owns 5,950 shares of the pipeline company’s stock valued at $260,000 after acquiring an additional 1,150 shares during the last quarter. Northern Trust Corp raised its stake in shares of Western Gas Partners by 3.2% during the second quarter. Northern Trust Corp now owns 40,042 shares of the pipeline company’s stock valued at $1,938,000 after acquiring an additional 1,259 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Western Gas Partners by 20.4% during the second quarter. Segall Bryant & Hamill LLC now owns 8,185 shares of the pipeline company’s stock valued at $396,000 after acquiring an additional 1,385 shares during the last quarter. Brasada Capital Management LP raised its stake in shares of Western Gas Partners by 21.0% during the third quarter. Brasada Capital Management LP now owns 8,630 shares of the pipeline company’s stock valued at $377,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Sonata Capital Group Inc. raised its stake in shares of Western Gas Partners by 25.3% during the third quarter. Sonata Capital Group Inc. now owns 7,675 shares of the pipeline company’s stock valued at $335,000 after acquiring an additional 1,550 shares during the last quarter. 59.65% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Western Gas Partners (NYSE:WES)

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