Western Gas Equity Partners, LP (NYSE:WGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $48.00 target price on the pipeline company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.94% from the stock’s current price.

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. “

A number of other research firms have also issued reports on WGP. BidaskClub lowered Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a research report on Friday, June 9th. Deutsche Bank AG upgraded Western Gas Equity Partners, from a “hold” rating to a “buy” rating and upped their price target for the company from $50.00 to $54.00 in a research report on Thursday, July 13th. Royal Bank Of Canada restated a “buy” rating and issued a $53.00 price target on shares of Western Gas Equity Partners, in a research report on Friday, April 7th. Scotiabank set a $51.00 price target on Western Gas Equity Partners, and gave the company a “buy” rating in a research report on Tuesday, July 11th. Finally, Macquarie started coverage on Western Gas Equity Partners, in a research report on Friday, April 21st. They issued an “outperform” rating and a $51.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $49.09.

Western Gas Equity Partners, (NYSE WGP) traded down 1.52% during trading on Thursday, reaching $42.23. The company’s stock had a trading volume of 72,161 shares. Western Gas Equity Partners, has a one year low of $35.52 and a one year high of $47.82. The stock has a 50-day moving average of $42.50 and a 200 day moving average of $44.46. The firm has a market capitalization of $9.25 billion, a P/E ratio of 27.19 and a beta of 1.57.

Western Gas Equity Partners, (NYSE:WGP) last announced its earnings results on Tuesday, May 2nd. The pipeline company reported $0.35 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 firm had revenue of $516.19 million for the quarter, compared to analyst estimates of $501.83 million. On average, equities research analysts predict that Western Gas Equity Partners, will post $1.64 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of WGP. Spirit of America Management Corp NY raised its position in shares of Western Gas Equity Partners, by 3.2% in the second quarter. Spirit of America Management Corp NY now owns 153,073 shares of the pipeline company’s stock valued at $6,585,000 after buying an additional 4,700 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Western Gas Equity Partners, by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,546,062 shares of the pipeline company’s stock valued at $71,274,000 after buying an additional 253,205 shares during the last quarter. TPH Asset Management LLC raised its position in shares of Western Gas Equity Partners, by 4.2% in the first quarter. TPH Asset Management LLC now owns 576,696 shares of the pipeline company’s stock valued at $26,585,000 after buying an additional 23,240 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Western Gas Equity Partners, during the first quarter valued at $3,019,000. Finally, Level Four Advisory Services LLC raised its position in shares of 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. Institutional investors own 18.71% of the company’s stock.

Western Gas Equity Partners, Company Profile

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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