Western Gas Equity Partners, LP (NYSE:WGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

A number of other research firms have also commented on WGP. BidaskClub lowered Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a report on Friday, June 9th. Deutsche Bank AG raised Western Gas Equity Partners, from a “hold” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $54.00 in a report on Thursday, July 13th. Scotiabank set a $51.00 target price on Western Gas Equity Partners, and gave the stock a “buy” rating in a report on Tuesday, July 11th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $53.00 target price on shares of Western Gas Equity Partners, in a report 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 given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $50.56.

Shares of Western Gas Equity Partners, (NYSE WGP) traded up 0.77% during midday trading on Thursday, reaching $40.66. The company had a trading volume of 1,435,129 shares. The company has a 50-day moving average price of $40.12 and a 200 day moving average price of $42.61. The company has a market capitalization of $8.90 billion, a P/E ratio of 25.01 and a beta of 1.57. Western Gas Equity Partners, has a one year low of $38.71 and a one year high of $47.82.

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

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Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its holdings 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 worth $158,000 after purchasing an additional 1,505 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Western Gas Equity Partners, by 0.5% in the second quarter. Chickasaw Capital Management LLC now owns 5,109,279 shares of the pipeline company’s stock worth $219,801,000 after acquiring an additional 24,540 shares during the period. Level Four Advisory Services LLC grew its holdings 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 worth $325,000 after acquiring an additional 622 shares during the period. Goldman Sachs Group Inc. grew its holdings 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 worth $71,274,000 after acquiring an additional 253,205 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. bought a new stake in shares of Western Gas Equity Partners, in the first quarter worth $1,406,000. 17.80% of the stock is owned by institutional investors and hedge funds.

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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