Western Gas Equity Partners LP (WGP) Receives Consensus Rating of “Buy” from Analysts

Shares of Western Gas Equity Partners LP (NYSE:WGP) have received an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $49.70.

A number of equities analysts have issued reports on WGP shares. Credit Suisse Group initiated coverage on Western Gas Equity Partners in a research report on Thursday. They set an “outperform” rating and a $49.00 price target on the stock. UBS Group upgraded Western Gas Equity Partners from a “neutral” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Wednesday. Zacks Investment Research upgraded Western Gas Equity Partners from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, November 9th. Scotiabank restated a “buy” rating and issued a $51.00 target price on shares of Western Gas Equity Partners in a research report on Wednesday, October 25th. Finally, TheStreet downgraded Western Gas Equity Partners from a “b” rating to a “c+” rating in a research report on Monday, October 16th.

Shares of Western Gas Equity Partners (WGP) opened at $40.66 on Friday. The company has a market capitalization of $8,900.00, a PE ratio of 24.64 and a beta of 1.51. Western Gas Equity Partners has a 1-year low of $33.92 and a 1-year high of $47.82. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.84.

Western Gas Equity Partners (NYSE:WGP) last posted its 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. The firm had revenue of $574.70 million for the quarter, compared to analyst estimates of $530.80 million. Western Gas Equity Partners had a return on equity of 8.99% and a net margin of 16.96%. Western Gas Equity Partners’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. analysts predict that Western Gas Equity Partners will post 1.7 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Dividend Assets Capital LLC grew its stake in shares of Western Gas Equity Partners by 1.1% in the third quarter. Dividend Assets Capital LLC now owns 337,784 shares of the pipeline company’s stock valued at $13,910,000 after buying an additional 3,512 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Western Gas Equity Partners by 1.6% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 867,019 shares of the pipeline company’s stock valued at $35,704,000 after buying an additional 13,337 shares in the last quarter. Miller Howard Investments Inc. NY grew its stake in shares of Western Gas Equity Partners by 97.3% in the third quarter. Miller Howard Investments Inc. NY now owns 90,723 shares of the pipeline company’s stock valued at $3,736,000 after buying an additional 44,751 shares in the last quarter. Cadence Capital Management LLC purchased a new position in Western Gas Equity Partners in the third quarter valued at $1,188,000. Finally, Cohen & Steers Inc. boosted its holdings in Western Gas Equity Partners by 4.8% in the third 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. 18.38% of the stock is owned by institutional investors and hedge funds.

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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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