Insider Selling: Western Gas Partners, LP (WES) Director Sells 57,064 Shares of Stock
Western Gas Partners, LP (NYSE:WES) Director James R. Crane sold 57,064 shares of the business’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $50.00, for a total value of $2,853,200.00. Following the completion of the transaction, the director now owns 293,341 shares of the company’s stock, valued at approximately $14,667,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Western Gas Partners, LP (NYSE:WES) traded up 2.23% during trading on Wednesday, hitting $50.00. The stock had a trading volume of 349,382 shares. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 295.86 and a beta of 0.96. Western Gas Partners, LP has a 52-week low of $25.40 and a 52-week high of $54.35. The firm’s 50-day moving average price is $49.76 and its 200-day moving average price is $48.06.
Western Gas Partners, (NYSE:WES) last issued its earnings results on Tuesday, July 26th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The company had revenue of $428.70 million for the quarter, compared to analyst estimates of $438.63 million. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Analysts predict that Western Gas Partners, LP will post $1.88 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of WES. Goldman Sachs Group Inc. boosted its position in Western Gas Partners, by 33.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,900,934 shares of the company’s stock worth $212,749,000 after buying an additional 1,218,204 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Western Gas Partners, during the first quarter worth approximately $583,000. Chilton Capital Management LLC boosted its position in Western Gas Partners, by 0.9% in the first quarter. Chilton Capital Management LLC now owns 48,107 shares of the company’s stock worth $2,088,000 after buying an additional 410 shares in the last quarter. CIBC Asset Management Inc acquired a new position in Western Gas Partners, during the second quarter worth approximately $208,000. Finally, BB&T Securities LLC acquired a new position in Western Gas Partners, during the second quarter worth approximately $394,000.
Several research firms have recently weighed in on WES. Mitsubishi UFJ Financial Group began coverage on Western Gas Partners, in a research note on Friday, June 17th. They issued a “neutral” rating and a $59.00 price target for the company. Janney Montgomery Scott began coverage on Western Gas Partners, in a research note on Friday, July 29th. They issued a “buy” rating and a $60.00 price target for the company. Zacks Investment Research cut Western Gas Partners, from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. TheStreet upgraded Western Gas Partners, from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Western Gas Partners, in a research note on Thursday, July 28th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $52.13.
Western Gas Partners, Company Profile
Western Gas Partners, LP is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. The Company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil for Anadarko Petroleum Corporation (Anadarko), as well as third-party producers and customers.
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