Western Gas Partners, LP (WES) Price Target Lowered to $52.00 at Morgan Stanley
Western Gas Partners, LP (NYSE:WES) had its price objective reduced by Morgan Stanley from $57.00 to $52.00 in a report issued on Thursday. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 8.58% from the company’s previous close.
Several other research firms have also issued reports on WES. Stifel Nicolaus reissued a “hold” rating and issued a $60.00 price target on shares of Western Gas Partners, in a research report on Friday, July 14th. Scotiabank set a $61.00 price target on shares of Western Gas Partners, and gave the company a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, July 25th. BidaskClub raised shares of Western Gas Partners, from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Finally, TheStreet raised shares of Western Gas Partners, from a “c+” rating to a “b-” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $59.83.
Western Gas Partners, (NYSE:WES) last released its earnings results on Tuesday, October 31st. The pipeline company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.16). The company had revenue of $574.70 million during the quarter, compared to analysts’ expectations of $536.01 million. Western Gas Partners, had a net margin of 26.41% and a return on equity of 14.93%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share.
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A number of institutional investors have recently bought and sold shares of WES. Pathstone Family Office LLC bought a new stake in Western Gas Partners, during the 2nd quarter worth approximately $136,000. Chicago Partners Investment Group LLC increased its holdings in Western Gas Partners, by 60.2% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,396 shares of the pipeline company’s stock worth $139,000 after acquiring an additional 900 shares during the period. Penserra Capital Management LLC bought a new stake in Western Gas Partners, during the 3rd quarter worth approximately $142,000. Oppenheimer Asset Management Inc. bought a new stake in Western Gas Partners, during the 1st quarter worth approximately $181,000. Finally, Signature Financial Management Inc. increased its holdings in Western Gas Partners, by 9.6% during the 2nd quarter. Signature Financial Management Inc. now owns 3,725 shares of the pipeline company’s stock worth $208,000 after acquiring an additional 325 shares during the period. 59.63% of the stock is currently owned by institutional investors and hedge funds.
Western Gas Partners, Company Profile
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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