Western Gas Partners, Given New $78.00 Price Target at Stifel Nicolaus (WES)
Analysts at Stifel Nicolaus boosted their target price on shares of Western Gas Partners, (NYSE:WES) from $75.00 to $78.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 7.48% from the stock’s previous close.
Western Gas Partners, (NYSE:WES) traded up 0.83% during mid-day trading on Thursday, hitting $73.17. 5,788 shares of the company’s stock traded hands. Western Gas Partners, has a 52 week low of $54.58 and a 52 week high of $79.81. The stock has a 50-day moving average of $75. and a 200-day moving average of $68.86. The company has a market cap of $8.705 billion and a price-to-earnings ratio of 32.96.
Western Gas Partners, (NYSE:WES) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.56 by $0.01. The company had revenue of $329.90 million for the quarter, compared to the consensus estimate of $319.02 million. During the same quarter last year, the company posted $0.41 earnings per share. Western Gas Partners,’s revenue was up 31.2% compared to the same quarter last year. Analysts expect that Western Gas Partners, will post $2.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 13th. Stockholders of record on Thursday, July 31st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Tuesday, July 29th. This is a boost from Western Gas Partners,’s previous quarterly dividend of $0.63.
A number of other analysts have also recently weighed in on WES. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Western Gas Partners, in a research note on Friday, July 25th. They now have a $88.00 price target on the stock, up previously from $74.00. Analysts at RBC Capital raised their price target on shares of Western Gas Partners, from $72.00 to $77.00 in a research note on Tuesday, May 13th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $74.55.
Western Gas Partners, LP (NYSE:WES) is a master limited partnership (MLP) organized by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets.
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