Western Gas Partners, LP (WES) Raised to Buy at Zacks Investment Research
Western Gas Partners, LP (NYSE:WES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $65.00 price objective on the stock. Zacks Investment Research’s price target points to a potential upside of 12.11% from the company’s current price.
According to Zacks, “WESTERN GAS PARTNERS is a growth-oriented Delaware limited partnership formed by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. “
Several other research firms have also weighed in on WES. Barclays PLC increased their price target on Western Gas Partners, from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, October 10th. Deutsche Bank AG restated a “buy” rating and set a $56.00 price target on shares of Western Gas Partners, in a report on Thursday, October 6th. Royal Bank Of Canada increased their price target on Western Gas Partners, from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, October 11th. RBC Capital Markets restated an “outperform” rating and set a $64.00 price target (up previously from $60.00) on shares of Western Gas Partners, in a report on Wednesday, October 12th. Finally, Credit Suisse Group AG restated a “hold” rating on shares of Western Gas Partners, in a report on Thursday, July 28th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $53.75.
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Shares of Western Gas Partners, (NYSE:WES) opened at 57.98 on Wednesday. Western Gas Partners, has a one year low of $25.40 and a one year high of $58.13. The company has a market cap of $8.27 billion, a PE ratio of 343.08 and a beta of 0.96. The stock’s 50 day moving average is $52.25 and its 200-day moving average is $49.81.
Western Gas Partners, (NYSE:WES) last posted its earnings results on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. Equities research analysts expect that Western Gas Partners, will post $1.89 earnings per share for the current year.
In other Western Gas Partners, news, Director James R. Crane sold 55,406 shares of Western Gas Partners, stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $50.23, for a total value of $2,783,043.38. Following the completion of the transaction, the director now directly owns 361,669 shares in the company, valued at $18,166,633.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David J. Tudor sold 4,000 shares of Western Gas Partners, stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $49.12, for a total value of $196,480.00. Following the completion of the transaction, the director now owns 8,898 shares of the company’s stock, valued at $437,069.76. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of WES. IFP Advisors Inc increased its position in shares of 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 last quarter. CIBC Asset Management Inc bought a new position in shares of Western Gas Partners, during the second quarter worth approximately $208,000. Balentine LLC bought a new position in shares of Western Gas Partners, during the second quarter worth approximately $227,000. Sequoia Financial Advisors LLC bought a new position in shares of Western Gas Partners, during the second quarter worth approximately $243,000. Finally, Trust Co. of Vermont increased its position in shares of 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 last quarter.
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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