Zacks Investment Research Downgrades Western Gas Equity Partners, LP (WGP) to Hold

Zacks Investment Research lowered shares of Western Gas Equity Partners, LP (NYSE:WGP) from a buy rating to a hold rating in a report published on Thursday, September 14th.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

Other research analysts also recently issued reports about the stock. Royal Bank Of Canada restated a buy rating and set a $53.00 price objective on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. Scotiabank set a $51.00 price objective on shares of Western Gas Equity Partners, and gave the company a buy rating in a research report on Wednesday, August 16th. Deutsche Bank AG upgraded shares of Western Gas Equity Partners, from a hold rating to a buy rating and boosted their price objective for the company from $50.00 to $54.00 in a research report on Thursday, July 13th. Finally, BidaskClub upgraded shares of Western Gas Equity Partners, from a strong sell rating to a sell rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Western Gas Equity Partners, presently has a consensus rating of Buy and an average target price of $50.56.

Shares of Western Gas Equity Partners, (NYSE:WGP) opened at 39.26 on Thursday. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 24.15 and a beta of 1.57. The company’s 50-day moving average price is $40.26 and its 200-day moving average price is $42.98. Western Gas Equity Partners, has a 52-week low of $38.71 and a 52-week high of $47.82.

Western Gas Equity Partners, (NYSE:WGP) last released its quarterly earnings results on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The company had revenue of $525.50 million during the quarter, compared to the consensus estimate of $505.77 million. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. Equities research analysts forecast that Western Gas Equity Partners, will post $1.62 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in the company. Linscomb & Williams Inc. grew its stake in shares of Western Gas Equity Partners, by 0.4% in the second quarter. Linscomb & Williams Inc. now owns 10,325 shares of the pipeline company’s stock worth $444,000 after purchasing an additional 45 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Western Gas Equity Partners, by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 6,598 shares of the pipeline company’s stock worth $284,000 after purchasing an additional 452 shares during the last quarter. NBW Capital LLC grew its stake in shares of Western Gas Equity Partners, by 2.8% in the second quarter. NBW Capital LLC now owns 186,275 shares of the pipeline company’s stock worth $8,014,000 after purchasing an additional 5,010 shares during the last quarter. Clinton Group Inc. bought a new stake in shares of Western Gas Equity Partners, in the second quarter worth $201,000. Finally, Doliver Capital Advisors LP bought a new stake in shares of Western Gas Equity Partners, in the second quarter worth $241,000. Institutional investors own 17.80% of the company’s stock.

Western Gas Equity Partners, Company Profile

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.

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Analyst Recommendations for Western Gas Equity Partners, (NYSE:WGP)

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