Aveo Capital Partners LLC Lowers Position in Western Gas Equity Partners, LP (WGP)

Aveo Capital Partners LLC cut its position in Western Gas Equity Partners, LP (NYSE:WGP) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,645 shares of the pipeline company’s stock after selling 1,250 shares during the period. Aveo Capital Partners LLC’s holdings in Western Gas Equity Partners, were worth $399,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WGP. Neuberger Berman Group LLC increased its position in Western Gas Equity Partners, by 13.4% in the first quarter. Neuberger Berman Group LLC now owns 10,734,821 shares of the pipeline company’s stock valued at $494,875,000 after buying an additional 1,269,942 shares during the period. ING Groep NV acquired a new stake in Western Gas Equity Partners, during the first quarter valued at approximately $23,207,000. HITE Hedge Asset Management LLC increased its stake in Western Gas Equity Partners, by 462.1% in the fourth quarter. HITE Hedge Asset Management LLC now owns 201,633 shares of the pipeline company’s stock valued at $8,539,000 after buying an additional 165,762 shares in the last quarter. Center Coast Capital Advisors LP increased its stake in Western Gas Equity Partners, by 6.8% in the first quarter. Center Coast Capital Advisors LP now owns 853,563 shares of the pipeline company’s stock valued at $39,338,000 after buying an additional 54,164 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new stake in Western Gas Equity Partners, during the first quarter valued at approximately $1,964,000. Institutional investors and hedge funds own 18.71% of the company’s stock.

Western Gas Equity Partners, LP (WGP) traded down 0.21% during midday trading on Friday, hitting $42.85. The stock had a trading volume of 164,780 shares. The company has a 50-day moving average price of $42.97 and a 200-day moving average price of $44.46. Western Gas Equity Partners, LP has a 52 week low of $35.52 and a 52 week high of $47.82. The stock has a market cap of $9.38 billion, a P/E ratio of 27.59 and a beta of 1.57.

Western Gas Equity Partners, (NYSE:WGP) last issued its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.04. The business had revenue of $516.19 million during the quarter, compared to the consensus estimate of $501.83 million. Western Gas Equity Partners, had a return on equity of 8.34% and a net margin of 17.55%. Equities analysts expect that Western Gas Equity Partners, LP will post $1.59 EPS for the current year.

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WGP has been the subject of a number of analyst reports. Guggenheim initiated coverage on shares of Western Gas Equity Partners, in a research note on Monday, April 17th. They issued a “buy” rating and a $60.00 price objective for the company. Macquarie initiated coverage on shares of Western Gas Equity Partners, in a research note on Friday, April 21st. They issued an “outperform” rating and a $51.00 price objective for the company. Royal Bank Of Canada restated a “buy” rating and issued a $53.00 price objective on shares of Western Gas Equity Partners, in a research note on Friday, April 7th. Zacks Investment Research lowered shares of Western Gas Equity Partners, from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 15th. Finally, BidaskClub lowered shares of Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $47.90.

About Western Gas Equity Partners,

Western Gas Equity Partners, LP is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil.

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

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