Western Gas Equity Partners Hits New 12-Month High at $62.56 (WGP)
Shares of Western Gas Equity Partners (NYSE:WGP) reached a new 52-week high on Monday , Analyst Ratings Net reports. The stock traded as high as $62.56 and last traded at $62.18, with a volume of 29,984 shares traded. The stock had previously closed at $61.92.
WGP has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Western Gas Equity Partners from $50.00 to $57.00 in a research note on Tuesday, May 13th. They now have an “outperform” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Western Gas Equity Partners from $51.00 to $59.00 in a research note on Thursday, May 8th. They now have an “outperform” rating on the stock. Finally, 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, May 8th. 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $55.54.
The stock has a 50-day moving average of $54.07 and a 200-day moving average of $46.45. The company has a market cap of $13.725 billion and a price-to-earnings ratio of 75.70.
Western Gas Equity Partners (NYSE:WGP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Western Gas Equity Partners will post $1.04 EPS for the current fiscal year.
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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