Western Gas Equity Partners LP (WGP) Receives $39.23 Average Target Price from Analysts

Shares of Western Gas Equity Partners LP (NYSE:WGP) have been given an average rating of “Hold” by the fourteen research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $39.23.

A number of brokerages have recently weighed in on WGP. Citigroup raised their price target on Western Gas Equity Partners from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Wells Fargo & Co dropped their price target on Western Gas Equity Partners from $43.00 to $39.00 and set a “market perform” rating for the company in a research report on Monday, September 24th. Zacks Investment Research upgraded Western Gas Equity Partners from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Saturday, October 13th. Royal Bank of Canada dropped their price target on Western Gas Equity Partners to $42.00 and set an “outperform” rating for the company in a research report on Thursday, October 4th. Finally, Barclays raised their price target on Western Gas Equity Partners from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 29th.

NYSE:WGP traded up $0.46 during trading hours on Thursday, hitting $29.28. The company’s stock had a trading volume of 137,105 shares, compared to its average volume of 250,932. Western Gas Equity Partners has a 52-week low of $28.28 and a 52-week high of $42.92. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 17.12 and a beta of 1.60. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.48 and a current ratio of 0.71.

Western Gas Equity Partners (NYSE:WGP) last announced its quarterly earnings results on Tuesday, October 30th. The pipeline company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.28). Western Gas Equity Partners had a net margin of 18.66% and a return on equity of 9.96%. The firm had revenue of $507.76 million during the quarter, compared to analysts’ expectations of $473.40 million. During the same quarter in the prior year, the business earned $0.44 EPS. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. On average, analysts predict that Western Gas Equity Partners will post 2.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, October 31st will be given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 8.13%. The ex-dividend date of this dividend is Tuesday, October 30th. This is a boost from Western Gas Equity Partners’s previous quarterly dividend of $0.58. Western Gas Equity Partners’s dividend payout ratio (DPR) is currently 138.37%.

Institutional investors have recently bought and sold shares of the stock. Taylor Wealth Management Partners purchased a new stake in Western Gas Equity Partners during the 2nd quarter worth about $111,000. Whittier Trust Co. purchased a new stake in Western Gas Equity Partners during the 3rd quarter worth about $138,000. Baldwin Brothers Inc. MA purchased a new stake in Western Gas Equity Partners during the 2nd quarter worth about $194,000. Wetherby Asset Management Inc. purchased a new stake in Western Gas Equity Partners during the 2nd quarter worth about $215,000. Finally, Stokes Capital Advisors LLC purchased a new stake in Western Gas Equity Partners during the 2nd quarter worth about $234,000. Hedge funds and other institutional investors own 21.36% of the company’s stock.

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.

See Also: Return on Investment (ROI)

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

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