Western Gas Equity Partners, LP (NYSE:WGP) had its price objective reduced by Morgan Stanley from $45.00 to $40.00 in a note issued to investors on Thursday. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s target price suggests a potential upside of 1.14% from the company’s current price.

Other research analysts also recently issued research 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 report on Wednesday, August 16th. Royal Bank Of Canada reiterated a “buy” rating and issued a $53.00 price objective on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. Zacks Investment Research upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Saturday, August 19th. Deutsche Bank AG upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and upped their price objective for the stock from $50.00 to $54.00 in a research report on Thursday, July 13th. Finally, Seaport Global Securities initiated coverage on shares of Western Gas Equity Partners, in a research report on Tuesday, October 10th. They issued a “buy” rating and a $49.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $49.45.

Western Gas Equity Partners, (NYSE:WGP) last issued its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $574.70 million during the quarter, compared to the consensus estimate of $530.80 million. Western Gas Equity Partners, had a net margin of 16.96% and a return on equity of 8.95%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 earnings per share.

WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/11/02/western-gas-equity-partners-lp-wgp-price-target-cut-to-40-00-by-analysts-at-morgan-stanley.html.

Hedge funds have recently added to or reduced their stakes in the company. Saratoga Research & Investment Management purchased a new stake in shares of Western Gas Equity Partners, during the third quarter worth about $146,000. BNP Paribas Arbitrage SA increased its stake in shares of Western Gas Equity Partners, by 14.7% during the second quarter. BNP Paribas Arbitrage SA now owns 3,923 shares of the pipeline company’s stock worth $169,000 after purchasing an additional 503 shares in the last quarter. Clinton Group Inc. purchased a new stake in shares of Western Gas Equity Partners, during the second quarter worth about $201,000. Proficio Capital Partners LLC increased its stake in shares of Western Gas Equity Partners, by 10.8% during the second quarter. Proficio Capital Partners LLC now owns 5,342 shares of the pipeline company’s stock worth $226,000 after purchasing an additional 519 shares in the last quarter. Finally, Doliver Capital Advisors LP purchased a new stake in shares of Western Gas Equity Partners, during the second quarter worth about $241,000. 17.85% 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.

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

Receive News & Ratings for Western Gas Equity Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Gas Equity Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.