Bank of America Corp DE Has $84.68 Million Stake in Western Gas Partners, LP (WES)

Bank of America Corp DE boosted its stake in Western Gas Partners, LP (NYSE:WES) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,400,856 shares of the pipeline company’s stock after buying an additional 107,626 shares during the period. Bank of America Corp DE owned approximately 0.99% of Western Gas Partners, worth $84,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sigma Planning Corp increased its position in shares of Western Gas Partners, by 11.6% in the first quarter. Sigma Planning Corp now owns 5,682 shares of the pipeline company’s stock valued at $343,000 after buying an additional 589 shares in the last quarter. Americafirst Capital Management LLC purchased a new position in shares of Western Gas Partners, during the first quarter valued at about $448,000. Spirit of America Management Corp NY increased its position in shares of Western Gas Partners, by 4.7% in the first quarter. Spirit of America Management Corp NY now owns 399,269 shares of the pipeline company’s stock valued at $24,135,000 after buying an additional 18,100 shares in the last quarter. Creative Planning increased its position in shares of Western Gas Partners, by 33.1% in the first quarter. Creative Planning now owns 181,202 shares of the pipeline company’s stock valued at $10,954,000 after buying an additional 45,043 shares in the last quarter. Finally, Perigon Wealth Management LLC purchased a new position in shares of Western Gas Partners, during the fourth quarter valued at about $248,000. Hedge funds and other institutional investors own 57.88% of the company’s stock.

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

Western Gas Partners, LP (NYSE:WES) traded down 0.20% on Monday, hitting $54.29. 482,584 shares of the stock traded hands. Western Gas Partners, LP has a 12 month low of $45.12 and a 12 month high of $67.44. The company has a market capitalization of $7.69 billion, a PE ratio of 37.86 and a beta of 1.17. The firm has a 50-day moving average price of $55.85 and a 200-day moving average price of $59.19.

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Several brokerages have recently issued reports on WES. Bank of America Corporation downgraded shares of Western Gas Partners, from a “neutral” rating to an “underperform” rating and set a $61.00 target price on the stock. in a research note on Monday, February 27th. Zacks Investment Research cut shares of Western Gas Partners, from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 26th. Royal Bank Of Canada reissued a “buy” rating and set a $69.00 price objective on shares of Western Gas Partners, in a report on Friday, April 7th. Citigroup Inc. boosted their price objective on shares of Western Gas Partners, from $55.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Finally, Macquarie initiated coverage on shares of Western Gas Partners, in a report on Friday, April 21st. They set an “outperform” rating and a $51.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $62.30.

Western Gas Partners, Company Profile

Western Gas Partners, LP is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. The Company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil in the United States.

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