Analysts at Credit Suisse Group began coverage on shares of Western Gas Equity Partners (NYSE:WGP) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $49.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target indicates a potential upside of 20.19% from the stock’s previous close.
WGP has been the subject of a number of other research reports. Zacks Investment Research downgraded Western Gas Equity Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 11th. Morgan Stanley cut their price target on Western Gas Equity Partners from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Scotiabank reiterated a “buy” rating and set a $51.00 price target on shares of Western Gas Equity Partners in a research note on Wednesday, October 25th. UBS Group upgraded Western Gas Equity Partners from a “neutral” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Wednesday. Finally, TheStreet downgraded Western Gas Equity Partners from a “b” rating to a “c+” rating in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $49.09.
Western Gas Equity Partners (NYSE WGP) traded up $0.11 during mid-day trading on Thursday, reaching $40.77. The company’s stock had a trading volume of 318,957 shares, compared to its average volume of 157,696. The firm has a market cap of $8,925.90, a P/E ratio of 24.56 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.91 and a quick ratio of 0.91. Western Gas Equity Partners has a fifty-two week low of $33.92 and a fifty-two week high of $47.82.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Saratoga Research & Investment Management purchased a new position in shares of Western Gas Equity Partners in the 3rd quarter worth approximately $146,000. BNP Paribas Arbitrage SA boosted its stake in shares of Western Gas Equity Partners by 14.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,923 shares of the pipeline company’s stock worth $169,000 after buying an additional 503 shares during the last quarter. Clinton Group Inc. purchased a new position in shares of Western Gas Equity Partners in the 2nd quarter worth approximately $201,000. Doliver Capital Advisors LP purchased a new position in shares of Western Gas Equity Partners in the 2nd quarter worth approximately $241,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Western Gas Equity Partners by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,598 shares of the pipeline company’s stock worth $284,000 after buying an additional 452 shares during the last quarter. Hedge funds and other institutional investors own 18.38% of the company’s stock.
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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.
