Western Gas Equity Partners Stock Rating Upgraded by Zacks (WGP)
Western Gas Equity Partners (NYSE:WGP) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday. The firm currently has a $64.10 price objective on the stock. Zacks‘s price target indicates a potential upside of 5.43% from the stock’s previous close.
Western Gas Equity Partners (NYSE:WGP) traded down 0.51% on Wednesday, hitting $60.49. The stock had a trading volume of 206,275 shares. Western Gas Equity Partners has a 1-year low of $35.28 and a 1-year high of $62.85. The stock has a 50-day moving average of $54.67 and a 200-day moving average of $46.85. The company has a market cap of $13.241 billion and a P/E ratio of 74.33.
Western Gas Equity Partners (NYSE:WGP) last posted its quarterly earnings results 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.
Other equities research analysts have also recently issued reports about the stock. 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 analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $58.37.
Western Gas Equity Partners, LP was formed to own three types of partnership interests in Western Gas Partners, LP (NYSE:WGP).
To view Zacks’ full report, visit Zacks’ official website.
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