Western Gas Equity Partners, LP (NYSE:WGP) has been assigned a $51.00 price objective by equities research analysts at Scotiabank in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the pipeline company’s stock. Scotiabank’s price objective points to a potential upside of 27.34% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, July 20th. Deutsche Bank AG raised shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and increased their price target for the company from $50.00 to $54.00 in a research report on Thursday, July 13th. Macquarie started coverage on shares of Western Gas Equity Partners, in a research report on Friday, April 21st. They set an “outperform” rating and a $51.00 price target for the company. Finally, BidaskClub raised shares of Western Gas Equity Partners, from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $50.89.

Shares of Western Gas Equity Partners, (WGP) traded up 0.32% on Wednesday, reaching $40.18. 18,241 shares of the company were exchanged. The stock has a market capitalization of $8.80 billion, a PE ratio of 24.71 and a beta of 1.56. The firm has a 50 day moving average price of $41.84 and a 200-day moving average price of $44.00. 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 announced its quarterly earnings results on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The business had revenue of $525.50 million during the quarter, compared to analysts’ expectations of $505.77 million. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 EPS. On average, analysts predict that Western Gas Equity Partners, will post $1.63 EPS for the current fiscal year.

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Large investors have recently bought and sold shares of the company. Hollencrest Securities LLC bought a new stake in Western Gas Equity Partners, during the first quarter valued at approximately $350,000. Taylor Wealth Management Partners boosted its stake 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 in the last quarter. Miller Howard Investments Inc. NY boosted its stake in Western Gas Equity Partners, by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 48,136 shares of the pipeline company’s stock valued at $2,219,000 after buying an additional 170 shares in the last quarter. Linscomb & Williams Inc. boosted its stake in Western Gas Equity Partners, by 0.4% in the first quarter. Linscomb & Williams Inc. now owns 10,280 shares of the pipeline company’s stock valued at $474,000 after buying an additional 40 shares in the last quarter. Finally, Geneva Advisors LLC bought a new stake in Western Gas Equity Partners, during the first quarter valued at approximately $574,000. 18.64% of the stock is owned by hedge funds and other institutional investors.

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.

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

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