Research Analysts Offer Predictions for Western Gas Partners, LP’s Q3 2016 Earnings (WES)
Western Gas Partners, LP (NYSE:WES) – Equities research analysts at Capital One Financial Corp. decreased their Q3 2016 EPS estimates for Western Gas Partners, in a research note issued on Friday. Capital One Financial Corp. analyst C. Marshall now anticipates that the firm will post earnings of $0.45 per share for the quarter, down from their previous forecast of $0.46. Capital One Financial Corp. also issued estimates for Western Gas Partners,’s Q4 2016 earnings at $0.43 EPS, Q1 2017 earnings at $0.48 EPS, Q2 2017 earnings at $0.57 EPS, Q3 2017 earnings at $0.61 EPS, Q4 2017 earnings at $0.65 EPS, FY2017 earnings at $2.31 EPS, Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.69 EPS and Q3 2018 earnings at $0.73 EPS.
Western Gas Partners, (NYSE:WES) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. The firm earned $428.70 million during the quarter, compared to the consensus estimate of $438.63 million. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis.
WES has been the topic of several other reports. Credit Suisse Group AG restated a “hold” rating on shares of Western Gas Partners, in a research note on Thursday, July 28th. Deutsche Bank AG reiterated a “buy” rating and issued a $56.00 price objective on shares of Western Gas Partners, in a research note on Thursday. Mitsubishi UFJ Financial Group started coverage on Western Gas Partners, in a research note on Friday, June 17th. They issued a “neutral” rating and a $59.00 price objective on the stock. Zacks Investment Research upgraded Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective on the stock in a research note on Tuesday, July 26th. Finally, Janney Montgomery Scott started coverage on Western Gas Partners, in a research note on Friday, July 29th. They issued a “buy” rating and a $60.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $50.64.
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Shares of Western Gas Partners, (NYSE:WES) opened at 54.62 on Monday. The stock has a 50 day moving average price of $51.14 and a 200-day moving average price of $49.02. The company has a market cap of $7.79 billion, a P/E ratio of 323.20 and a beta of 0.96. Western Gas Partners, has a 1-year low of $25.40 and a 1-year high of $56.11.
In other news, Director James R. Crane sold 47,223 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $50.69, for a total value of $2,393,733.87. Following the transaction, the director now owns 363,175 shares of the company’s stock, valued at approximately $18,409,340.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James R. Crane sold 60,456 shares of the stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $50.39, for a total value of $3,046,377.84. Following the completion of the transaction, the director now directly owns 409,502 shares in the company, valued at approximately $20,634,805.78. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased 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 during the period. Chilton Capital Management LLC increased 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 during the period. Quadrature Capital Ltd bought a new position in Western Gas Partners, during the first quarter worth $583,000. BB&T Securities LLC bought a new position in Western Gas Partners, during the second quarter worth $394,000. Finally, CIBC Asset Management Inc bought a new position in Western Gas Partners, during the second quarter worth $208,000.
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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