Western Gas Equity Partners (NYSE:WGP) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Tuesday, February 5th.
Several other research firms have also recently issued reports on WGP. Zacks Investment Research raised Western Gas Equity Partners from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Saturday, October 13th. Credit Suisse Group began coverage on shares of Western Gas Equity Partners in a research report on Thursday, October 11th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, ValuEngine upgraded shares of Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Western Gas Equity Partners has an average rating of “Hold” and a consensus target price of $38.25.
WGP traded up $0.42 during trading on Tuesday, reaching $33.14. The company had a trading volume of 3,636,533 shares, compared to its average volume of 323,261. The stock has a market capitalization of $7.22 billion, a P/E ratio of 16.82 and a beta of 1.54. Western Gas Equity Partners has a 12-month low of $25.89 and a 12-month high of $38.62. The company has a current ratio of 0.63, a quick ratio of 0.71 and a debt-to-equity ratio of 1.37.
Western Gas Equity Partners (NYSE:WGP) last issued its quarterly earnings results on Thursday, February 14th. The pipeline company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. The company had revenue of $557.79 million during the quarter, compared to analyst estimates of $549.84 million. Western Gas Equity Partners had a return on equity of 11.72% and a net margin of 19.06%. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share.
Several hedge funds have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Western Gas Equity Partners by 70.1% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 3,164,071 shares of the pipeline company’s stock valued at $87,740,000 after purchasing an additional 1,304,136 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of Western Gas Equity Partners during the fourth quarter valued at approximately $33,594,000. Citigroup Inc. increased its position in shares of Western Gas Equity Partners by 19.3% during the fourth quarter. Citigroup Inc. now owns 2,730,229 shares of the pipeline company’s stock valued at $75,709,000 after acquiring an additional 441,252 shares in the last quarter. Energy Income Partners LLC increased its position in shares of Western Gas Equity Partners by 58.3% during the fourth quarter. Energy Income Partners LLC now owns 1,154,118 shares of the pipeline company’s stock valued at $32,003,000 after acquiring an additional 424,831 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Western Gas Equity Partners by 69.9% during the third quarter. JPMorgan Chase & Co. now owns 897,590 shares of the pipeline company’s stock valued at $26,874,000 after acquiring an additional 369,412 shares in the last quarter. 21.63% of the stock is owned by institutional investors and hedge funds.
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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