Western Gas Equity Partners Given Consensus Recommendation of “Buy” by Analysts (NYSE:WGP)
Western Gas Equity Partners (NYSE:WGP) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, Analyst Ratings.Net reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $57.30.
WGP has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Western Gas Equity Partners in a research note on Friday. They now have a $66.50 price target on the stock, up previously from $53.50. Separately, analysts at Zacks upgraded shares of Western Gas Equity Partners from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 2nd. They now have a $64.10 price target on the stock. Finally, 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.
Shares of Western Gas Equity Partners (NYSE:WGP) remained flat at $58.2629 during during mid-day trading trading on Monday. The stock had a trading volume of 21,421 shares. Western Gas Equity Partners has a 1-year low of $35.28 and a 1-year high of $62.85. The stock’s 50-day moving average is $58.72 and its 200-day moving average is $49.11. The company has a market cap of $12.754 billion and a price-to-earnings ratio of 71.22. Western Gas Equity Partners also saw a large decline in short interest in July. As of July 15th, there was short interest totalling 1,241,186 shares, a decline of 35.3% from the June 30th total of 1,919,601 shares. Based on an average daily trading volume, of 816,171 shares, the short-interest ratio is presently 1.5 days. Approximately 5.1% of the shares of the stock are sold short.
Western Gas Equity Partners (NYSE:WGP) last released its earnings data on Tuesday, May 6th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters 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 $1.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders of record on Thursday, July 31st will be paid a dividend of $0.2713 per share. This represents a $1.09 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Tuesday, July 29th. This is a boost from Western Gas Equity Partners’s previous quarterly dividend of $0.25.
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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