Western Gas Equity Partners, LP (WGP) Set to Announce Quarterly Earnings on Tuesday
Western Gas Equity Partners, LP (NYSE:WGP) is set to post its quarterly earnings results after the market closes on Tuesday, October 31st. Analysts expect Western Gas Equity Partners, to post earnings of $0.41 per share for the quarter.
Western Gas Equity Partners, (NYSE:WGP) last issued its quarterly earnings data on Tuesday, July 25th. The pipeline company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $525.50 million for 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 business’s revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. On average, analysts expect Western Gas Equity Partners, to post $1.52 EPS for the current fiscal year and $1.9 EPS for the next fiscal year.
Shares of Western Gas Equity Partners, LP (WGP) traded down 0.8997% during midday trading on Tuesday, hitting $38.9365. 97,728 shares of the stock were exchanged. The firm has a 50 day moving average of $40.12 and a 200-day moving average of $42.06. Western Gas Equity Partners, LP has a one year low of $38.61 and a one year high of $47.82. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 23.9462 and a beta of 1.57.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 2nd will be issued a $0.5375 dividend. The ex-dividend date is Wednesday, November 1st. This represents a $2.15 dividend on an annualized basis and a dividend yield of 5.47%. This is a positive change from Western Gas Equity Partners,’s previous quarterly dividend of $0.53. Western Gas Equity Partners,’s payout ratio is presently 129.45%.
WGP has been the topic of a number of recent research reports. 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. Deutsche Bank AG raised Western Gas Equity Partners, from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $54.00 in a report on Thursday, July 13th. BidaskClub lowered Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research lowered Western Gas Equity Partners, from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Finally, Scotiabank set a $51.00 price objective on Western Gas Equity Partners, and gave the stock a “buy” rating in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.40.
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An institutional investor recently raised its position in Western Gas Equity Partners, stock. Northern Trust Corp increased its holdings in shares of Western Gas Equity Partners, LP (NYSE:WGP) by 35.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,537 shares of the pipeline company’s stock after acquiring an additional 2,500 shares during the period. Northern Trust Corp’s holdings in Western Gas Equity Partners, were worth $410,000 as of its most recent SEC filing. 17.81% of the stock is currently 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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