Western Gas Equity Partners, LP (NYSE:WGP) has earned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $50.50.

Several equities research analysts have commented on WGP shares. Scotiabank set a $51.00 price target on shares of Western Gas Equity Partners and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of Western Gas Equity Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Royal Bank Of Canada reissued a “buy” rating and set a $53.00 price target on shares of Western Gas Equity Partners in a research report on Monday, August 21st. BidaskClub raised shares of Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Seaport Global Securities started coverage on shares of Western Gas Equity Partners in a research report on Tuesday, October 10th. They set a “buy” rating and a $49.00 price target on the stock.

Shares of Western Gas Equity Partners (WGP) traded up $0.34 during trading hours on Monday, reaching $36.68. 114,100 shares of the company’s stock traded hands, compared to its average volume of 158,059. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.84. Western Gas Equity Partners has a 52-week low of $33.92 and a 52-week high of $47.82. The company has a market cap of $8,030.47, a PE ratio of 22.10 and a beta of 1.50.

Western Gas Equity Partners (NYSE:WGP) last issued its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. Western Gas Equity Partners had a net margin of 16.96% and a return on equity of 8.99%. The firm had revenue of $574.70 million for the quarter, compared to analysts’ expectations of $530.80 million. During the same period in the previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. research analysts expect that Western Gas Equity Partners will post 1.7 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 2nd were issued a $0.5375 dividend. This represents a $2.15 dividend on an annualized basis and a dividend yield of 5.86%. This is a boost from Western Gas Equity Partners’s previous quarterly dividend of $0.53. The ex-dividend date was Wednesday, November 1st. Western Gas Equity Partners’s dividend payout ratio is presently 130.30%.

Several hedge funds have recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its holdings in shares of Western Gas Equity Partners by 92.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 26,742 shares of the pipeline company’s stock valued at $1,101,000 after purchasing an additional 12,836 shares during the period. Institutional & Family Asset Management LLC bought a new stake in shares of Western Gas Equity Partners in the 3rd quarter valued at about $1,539,000. Neuberger Berman Group LLC raised its holdings in shares of Western Gas Equity Partners by 3.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 11,536,740 shares of the pipeline company’s stock valued at $475,083,000 after purchasing an additional 343,660 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Western Gas Equity Partners by 4.8% in the 3rd quarter. Cohen & Steers Inc. now owns 148,844 shares of the pipeline company’s stock valued at $6,129,000 after purchasing an additional 6,792 shares during the period. Finally, Hollow Brook Wealth Management LLC raised its holdings in shares of Western Gas Equity Partners by 72.0% in the 3rd quarter. Hollow Brook Wealth Management LLC now owns 116,777 shares of the pipeline company’s stock valued at $4,809,000 after purchasing an additional 48,901 shares during the period. 18.39% of the stock is currently owned by institutional investors.

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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.

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

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