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Analysts at Oppenheimer boosted their price objective on shares of Western Gas Equity Partners (NYSE:WGP) from $51.00 to $59.00 in a research report issued to clients and investors on Thursday, Analyst Ratings Network.com reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 17.13% from the stock’s previous close.

Western Gas Equity Partners (NYSE:WGP) traded down 1.76% during mid-day trading on Thursday, hitting $50.37. The stock had a trading volume of 127,435 shares. Western Gas Equity Partners has a 52-week low of $35.15 and a 52-week high of $53.28. The stock’s 50-day moving average is $48.58 and its 200-day moving average is $42.93. The company has a market cap of $11.026 billion and a P/E ratio of 72.11.

Western Gas Equity Partners (NYSE:WGP) last announced its earnings results on Tuesday, May 6th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.33. The company had revenue of $275.46 million for the quarter, compared to the consensus estimate of $293.96 million. On average, analysts predict that Western Gas Equity Partners will post $1.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, May 23rd. Stockholders of record on Wednesday, April 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, April 28th. This is a boost from Western Gas Equity Partners’s previous quarterly dividend of $0.23.

WGP has been the subject of a number of other recent research reports. Analysts at Credit Suisse downgraded shares of Western Gas Equity Partners from an “outperform” rating to a “neutral” rating in a research note on Thursday. They now have a $54.00 price target on the stock, up previously from $49.00. They noted that the move was a valuation call. Separately, analysts at Tudor Pickering downgraded shares of Western Gas Equity Partners from a “buy” rating to an “accumulate” rating in a research note on Tuesday, April 15th. Finally, analysts at Citigroup Inc. raised their price target on shares of Western Gas Equity Partners from $71.00 to $74.00 in a research note on Friday, March 28th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $54.54.

Western Gas Equity Partners, LP was formed to own three types of partnership interests in Western Gas Partners, LP (NYSE:WGP).

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