Western Gas Equity Partners, LP (NYSE:WGP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

WGP has been the topic of a number of other reports. Guggenheim began coverage on Western Gas Equity Partners, in a research note on Monday, April 17th. They set a “buy” rating and a $60.00 price objective on the stock. Macquarie began coverage on Western Gas Equity Partners, in a research note on Friday, April 21st. They set an “outperform” rating and a $51.00 price objective on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $53.00 price objective on shares of Western Gas Equity Partners, in a research note on Friday, April 7th. Finally, BidaskClub upgraded Western Gas Equity Partners, from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.90.

Western Gas Equity Partners, (NYSE WGP) traded down 0.21% on Wednesday, reaching $42.85. The company’s stock had a trading volume of 164,780 shares. The firm has a market cap of $9.38 billion, a price-to-earnings ratio of 27.59 and a beta of 1.57. The firm has a 50 day moving average of $42.97 and a 200 day moving average of $44.46. Western Gas Equity Partners, has a 12 month low of $35.52 and a 12 month high of $47.82.

Western Gas Equity Partners, (NYSE:WGP) last released its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.04. Western Gas Equity Partners, had a net margin of 17.55% and a return on equity of 8.34%. The company had revenue of $516.19 million for the quarter, compared to the consensus estimate of $501.83 million. Analysts anticipate that Western Gas Equity Partners, will post $1.59 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its position in Western Gas Equity Partners, by 78.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock valued at $158,000 after buying an additional 1,505 shares during the last quarter. Taylor Wealth Management Partners boosted its position in Western Gas Equity Partners, by 1,050.0% in the first quarter. Taylor Wealth Management Partners now owns 4,600 shares of the pipeline company’s stock valued at $212,000 after buying an additional 4,200 shares during the last quarter. Level Four Advisory Services LLC boosted its position in Western Gas Equity Partners, by 9.8% in the first quarter. Level Four Advisory Services LLC now owns 6,986 shares of the pipeline company’s stock valued at $325,000 after buying an additional 622 shares during the last quarter. Signature Financial Management Inc. acquired a new position in Western Gas Equity Partners, during the first quarter valued at approximately $348,000. Finally, Hollencrest Securities LLC acquired a new position in Western Gas Equity Partners, during the first quarter valued at approximately $350,000. Institutional investors and hedge funds own 18.71% of the company’s stock.

About Western Gas Equity Partners,

Western Gas Equity Partners, LP is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil.

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Analyst Recommendations for Western Gas Equity Partners, (NYSE:WGP)

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