Western Gas Equity Partners, LP (NYSE:WGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

Other equities research analysts also recently issued reports about the stock. Scotiabank set a $51.00 price objective on shares of Western Gas Equity Partners, and gave the stock a “buy” rating in a research note on Wednesday, August 16th. BidaskClub upgraded shares of Western Gas Equity Partners, from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Deutsche Bank AG upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $54.00 in a research note on Thursday, July 13th. Finally, 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 Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Western Gas Equity Partners, currently has a consensus rating of “Buy” and a consensus price target of $50.56.

Western Gas Equity Partners, (NYSE WGP) opened at 40.44 on Thursday. Western Gas Equity Partners, has a 52-week low of $36.01 and a 52-week high of $47.82. The firm has a market capitalization of $8.85 billion, a price-to-earnings ratio of 24.87 and a beta of 1.57. The firm has a 50-day moving average of $40.46 and a 200-day moving average of $43.18.

Western Gas Equity Partners, (NYSE:WGP) last announced its quarterly earnings data on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The firm had revenue of $525.50 million for the quarter, compared to the consensus estimate of $505.77 million. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts forecast that Western Gas Equity Partners, will post $1.62 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in shares of Western Gas Equity Partners, by 78.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock valued at $158,000 after purchasing an additional 1,505 shares in the last quarter. Clinton Group Inc. acquired a new stake in shares of Western Gas Equity Partners, in the 2nd quarter valued at approximately $201,000. Proficio Capital Partners LLC boosted its stake in shares of Western Gas Equity Partners, by 10.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 5,342 shares of the pipeline company’s stock valued at $226,000 after purchasing an additional 519 shares in the last quarter. Doliver Capital Advisors LP acquired a new stake in shares of Western Gas Equity Partners, in the 2nd quarter valued at approximately $241,000. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Western Gas Equity Partners, by 11.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 6,000 shares of the pipeline company’s stock valued at $258,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 17.81% 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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