Western Gas Partners, LP (WES) Given a $61.00 Price Target at Scotiabank
Western Gas Partners, LP (NYSE:WES) has been given a $61.00 price target by investment analysts at Scotiabank in a research note issued on Wednesday. The brokerage currently has a “hold” rating on the pipeline company’s stock. Scotiabank’s price target would indicate a potential upside of 23.28% from the company’s previous close.
Several other research firms also recently weighed in on WES. TheStreet raised Western Gas Partners, from a “c+” rating to a “b” rating in a research report on Wednesday, April 26th. BidaskClub downgraded Western Gas Partners, from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Zacks Investment Research downgraded Western Gas Partners, from a “strong-buy” rating to a “hold” rating in a research report on Saturday, July 29th. Macquarie assumed coverage on Western Gas Partners, in a research report on Friday, April 21st. They issued an “outperform” rating and a $51.00 target price for the company. Finally, Citigroup Inc. boosted their price objective on Western Gas Partners, from $55.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Western Gas Partners, has an average rating of “Hold” and an average target price of $61.18.
Western Gas Partners, (NYSE WES) traded up 0.20% on Wednesday, hitting $49.48. 466,988 shares of the stock were exchanged. The stock’s 50 day moving average price is $53.37 and its 200 day moving average price is $57.69. Western Gas Partners, has a 52-week low of $46.85 and a 52-week high of $67.44. The firm has a market cap of $7.55 billion, a PE ratio of 35.37 and a beta of 1.19.
Western Gas Partners, (NYSE:WES) last released its earnings results on Tuesday, July 25th. The pipeline company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.04. The firm had revenue of $525.45 million during the quarter, compared to analyst estimates of $488.21 million. Western Gas Partners, had a net margin of 28.81% and a return on equity of 15.80%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities research analysts forecast that Western Gas Partners, will post $1.53 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the company. Hirtle Callaghan & Co LLC acquired a new position in shares of Western Gas Partners, during the first quarter worth about $121,000. Pathstone Family Office LLC acquired a new position in shares of Western Gas Partners, during the second quarter worth about $136,000. Chicago Partners Investment Group LLC increased its position in shares of Western Gas Partners, by 60.2% in the second quarter. Chicago Partners Investment Group LLC now owns 2,396 shares of the pipeline company’s stock worth $139,000 after buying an additional 900 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Western Gas Partners, during the first quarter worth about $181,000. Finally, Suntrust Banks Inc. acquired a new position in shares of Western Gas Partners, during the first quarter worth about $201,000. 55.32% of the stock is owned by institutional investors and hedge funds.
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 in the United States.
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