Western Gas Partners, LP (WES) Given “Outperform” Rating at RBC Capital Markets
Western Gas Partners, LP (NYSE:WES)‘s stock had its “outperform” rating reissued by equities research analysts at RBC Capital Markets in a research note issued to investors on Wednesday. They presently have a $64.00 price target on the stock, up from their prior price target of $60.00. RBC Capital Markets’ target price indicates a potential upside of 17.41% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Mitsubishi UFJ Financial Group assumed coverage on Western Gas Partners, in a research note on Friday, June 17th. They set a “neutral” rating and a $59.00 price objective on the stock. Janney Montgomery Scott assumed coverage on Western Gas Partners, in a research note on Friday, July 29th. They set a “buy” rating and a $60.00 price objective on the stock. Zacks Investment Research cut Western Gas Partners, from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Barclays PLC raised their target price on Western Gas Partners, from $60.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday. Finally, TheStreet upgraded Western Gas Partners, from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $53.25.
Western Gas Partners, (NYSE:WES) traded up 0.486% during trading on Wednesday, hitting $54.775. 98,738 shares of the stock were exchanged. Western Gas Partners, has a one year low of $25.40 and a one year high of $56.11. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 324.112 and a beta of 0.96. The stock’s 50 day moving average is $51.40 and its 200-day moving average is $49.28.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/western-gas-partners-lp-wes-given-outperform-rating-at-rbc-capital-markets.html
Western Gas Partners, (NYSE:WES) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The firm had revenue of $428.70 million for the quarter, compared to the consensus estimate of $438.63 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities research analysts expect that Western Gas Partners, will post $1.89 earnings per share for the current fiscal year.
In related news, Director James R. Crane sold 129,914 shares of Western Gas Partners, stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $50.86, for a total transaction of $6,607,426.04. Following the transaction, the director now directly owns 174,577 shares of the company’s stock, valued at $8,878,986.22. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James R. Crane sold 57,064 shares of Western Gas Partners, stock in a transaction dated 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 transaction, the director now directly owns 293,341 shares in the company, valued at $14,667,050. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WES. Goldman Sachs Group Inc. raised 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 last quarter. Bank of Montreal Can purchased a new position in Western Gas Partners, during the second quarter worth about $27,350,000. ING Groep NV purchased a new position in Western Gas Partners, during the first quarter worth about $16,410,000. Chickasaw Capital Management LLC raised its position in Western Gas Partners, by 10.1% in the second quarter. Chickasaw Capital Management LLC now owns 2,279,920 shares of the company’s stock worth $114,908,000 after buying an additional 208,615 shares during the last quarter. Finally, BP Capital Fund Advisors LLC raised its position in Western Gas Partners, by 359.7% in the first quarter. BP Capital Fund Advisors LLC now owns 133,319 shares of the company’s stock worth $5,787,000 after buying an additional 104,319 shares during the last quarter.
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.
Receive News & Ratings for Western Gas Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Gas Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.