Western Gas Equity Partners (NYSE:WGP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Saturday.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

Other research analysts have also issued reports about the company. Seaport Global Securities started coverage on Western Gas Equity Partners in a report on Tuesday, October 10th. They issued a “buy” rating and a $49.00 target price for the company. UBS Group upgraded Western Gas Equity Partners from a “neutral” rating to a “buy” rating and set a $44.00 target price for the company in a report on Wednesday, January 3rd. Scotiabank reiterated a “buy” rating and issued a $51.00 target price on shares of Western Gas Equity Partners in a report on Wednesday, October 25th. TheStreet lowered Western Gas Equity Partners from a “b” rating to a “c+” rating in a report on Monday, October 16th. Finally, Morgan Stanley decreased their target price on Western Gas Equity Partners from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Western Gas Equity Partners currently has an average rating of “Buy” and an average target price of $49.09.

Western Gas Equity Partners (NYSE:WGP) traded up $0.08 during trading hours on Friday, reaching $42.12. The company had a trading volume of 276,612 shares, compared to its average volume of 164,721. The stock has a market capitalization of $9,203.95, a price-to-earnings ratio of 25.53 and a beta of 1.50. Western Gas Equity Partners has a 52-week low of $33.92 and a 52-week high of $47.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 0.91.

Western Gas Equity Partners (NYSE:WGP) last released its earnings results on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. The firm had revenue of $574.70 million during 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 was up 19.3% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. equities analysts anticipate that Western Gas Equity Partners will post 1.7 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Saratoga Research & Investment Management acquired a new stake in Western Gas Equity Partners in the third quarter valued at $146,000. BNP Paribas Arbitrage SA raised its stake in Western Gas Equity Partners by 14.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,923 shares of the pipeline company’s stock valued at $169,000 after buying an additional 503 shares in the last quarter. Clinton Group Inc. acquired a new stake in Western Gas Equity Partners in the second quarter valued at $201,000. Doliver Capital Advisors LP acquired a new stake in Western Gas Equity Partners in the second quarter valued at $241,000. Finally, The Manufacturers Life Insurance Company raised its stake in Western Gas Equity Partners by 7.4% in the second quarter. The Manufacturers Life Insurance Company now owns 6,598 shares of the pipeline company’s stock valued at $284,000 after buying an additional 452 shares in the last quarter. Institutional investors own 18.38% of the company’s stock.

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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.

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