Barclays PLC Increases Western Gas Partners, LP (WES) Price Target to $63.00
Western Gas Partners, LP (NYSE:WES) had its price target boosted by equities research analysts at Barclays PLC from $60.00 to $63.00 in a note issued to investors on Monday. The firm presently has an “overweight” rating on the stock. Barclays PLC’s target price would suggest a potential upside of 12.64% from the company’s current price.
A number of other research firms have also recently issued reports on WES. Deutsche Bank AG reiterated a “buy” rating and issued a $56.00 price objective on shares of Western Gas Partners, in a report on Thursday. Credit Suisse Group AG restated a “hold” rating on shares of Western Gas Partners, in a report on Thursday, July 28th. Janney Montgomery Scott initiated coverage on Western Gas Partners, in a report on Friday, July 29th. They set a “buy” rating and a $60.00 target price for the company. TheStreet upgraded Western Gas Partners, from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $57.00 target price for the company in a report on Tuesday, July 26th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Western Gas Partners, presently has a consensus rating of “Hold” and a consensus price target of $51.71.
Shares of Western Gas Partners, (NYSE:WES) traded up 1.01% during midday trading on Monday, reaching $55.17. The company’s stock had a trading volume of 80,377 shares. The stock has a 50-day moving average price of $51.14 and a 200-day moving average price of $49.02. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 326.45 and a beta of 0.96. Western Gas Partners, has a 52-week low of $25.40 and a 52-week high of $56.11.
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Western Gas Partners, (NYSE:WES) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The firm earned $428.70 million during the quarter, compared to analysts’ expectations of $438.63 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Western Gas Partners,’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts anticipate that Western Gas Partners, will post $1.89 earnings per share for the current fiscal year.
In related news, Director David J. Tudor sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $49.12, for a total transaction of $196,480.00. Following the completion of the transaction, the director now owns 8,898 shares of the company’s stock, valued at approximately $437,069.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Crane sold 47,223 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $50.69, for a total value of $2,393,733.87. Following the transaction, the director now directly owns 363,175 shares of the company’s stock, valued at approximately $18,409,340.75. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of WES. IFP Advisors Inc raised its position in Western Gas Partners, by 9.0% in the second quarter. IFP Advisors Inc now owns 2,442 shares of the company’s stock worth $123,000 after buying an additional 202 shares during the period. CIBC Asset Management Inc bought a new position in Western Gas Partners, during the second quarter worth $208,000. Balentine LLC bought a new position in Western Gas Partners, during the second quarter worth $227,000. Sequoia Financial Advisors LLC bought a new position in Western Gas Partners, during the second quarter worth $243,000. Finally, Trust Co. of Vermont raised its position in Western Gas Partners, by 7.9% in the second quarter. Trust Co. of Vermont now owns 5,396 shares of the company’s stock worth $272,000 after buying an additional 396 shares during the period.
About Western Gas Partners,
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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