Kayne Anderson Capital Advisors LP Acquires 43,030 Shares of Western Gas Equity Partners LP (WGP)

Kayne Anderson Capital Advisors LP grew its holdings in Western Gas Equity Partners LP (NYSE:WGP) by 26.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 205,435 shares of the pipeline company’s stock after buying an additional 43,030 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in Western Gas Equity Partners were worth $6,143,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in shares of Western Gas Equity Partners by 111.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,285,547 shares of the pipeline company’s stock worth $81,708,000 after acquiring an additional 1,202,446 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Western Gas Equity Partners during the 2nd quarter worth approximately $33,198,000. Tortoise Capital Advisors L.L.C. raised its stake in shares of Western Gas Equity Partners by 59.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,870,803 shares of the pipeline company’s stock worth $66,881,000 after acquiring an additional 699,232 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Western Gas Equity Partners during the 2nd quarter worth approximately $17,301,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Western Gas Equity Partners by 69.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 897,590 shares of the pipeline company’s stock worth $26,874,000 after acquiring an additional 369,412 shares in the last quarter. Institutional investors and hedge funds own 21.18% of the company’s stock.

WGP has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Western Gas Equity Partners in a research note on Tuesday, September 18th. They set a “buy” rating and a $40.00 price objective for the company. ValuEngine upgraded shares of Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Royal Bank of Canada reduced their price objective on shares of Western Gas Equity Partners to $42.00 and set an “outperform” rating for the company in a research note on Thursday, October 4th. Wells Fargo & Co reduced their price objective on shares of Western Gas Equity Partners from $43.00 to $39.00 and set a “market perform” rating for the company in a research note on Monday, September 24th. Finally, Bank of America reduced their price objective on shares of Western Gas Equity Partners from $39.00 to $36.00 and set a “hold” rating for the company in a research note on Friday, October 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Western Gas Equity Partners currently has a consensus rating of “Hold” and an average target price of $39.23.

NYSE:WGP opened at $28.68 on Thursday. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 16.67 and a beta of 1.60. Western Gas Equity Partners LP has a twelve month low of $28.28 and a twelve month high of $42.92. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.26.

Western Gas Equity Partners (NYSE:WGP) last released 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 company had revenue of $507.76 million for the quarter, compared to analysts’ expectations of $473.40 million. Western Gas Equity Partners had a return on equity of 9.96% and a net margin of 18.66%. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. On average, equities research analysts expect that Western Gas Equity Partners LP will post 2.29 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 8.30%. The ex-dividend date of this dividend is Tuesday, October 30th. This is an increase from Western Gas Equity Partners’s previous quarterly dividend of $0.58. Western Gas Equity Partners’s payout ratio is currently 138.37%.

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Western Gas Equity Partners 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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Institutional Ownership by Quarter for Western Gas Equity Partners (NYSE:WGP)

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