Scotiabank Reaffirms Hold Rating for Western Gas Partners (WES)

Western Gas Partners (NYSE:WES)‘s stock had its “hold” rating restated by stock analysts at Scotiabank in a report issued on Monday. They currently have a $58.00 target price on the pipeline company’s stock. Scotiabank’s price objective points to a potential upside of 10.77% from the company’s current price.

WES has been the topic of several other research reports. Stifel Nicolaus raised Western Gas Partners from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, October 25th. Zacks Investment Research cut Western Gas Partners from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Credit Suisse Group started coverage on Western Gas Partners in a report on Thursday, January 4th. They issued a “neutral” rating and a $49.00 price target on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $61.00 price target on shares of Western Gas Partners in a report on Tuesday, January 16th. Finally, Morgan Stanley dropped their price target on Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.08.

Shares of Western Gas Partners (WES) traded down $1.08 during trading hours on Monday, reaching $52.36. The company had a trading volume of 447,253 shares, compared to its average volume of 588,946. Western Gas Partners has a 1 year low of $42.68 and a 1 year high of $67.44. The company has a market capitalization of $8,155.06, a PE ratio of 42.68, a price-to-earnings-growth ratio of 3.94 and a beta of 1.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 0.91.

Western Gas Partners (NYSE:WES) last announced its earnings results on Tuesday, October 31st. The pipeline company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.16). Western Gas Partners had a return on equity of 14.68% and a net margin of 26.41%. The firm had revenue of $574.70 million for the quarter, compared to the consensus estimate of $536.01 million. During the same period in the previous year, the firm earned $0.54 EPS. Western Gas Partners’s revenue for the quarter was up 19.3% on a year-over-year basis. equities analysts predict that Western Gas Partners will post 1.44 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ffcm LLC purchased a new position in shares of Western Gas Partners during the 3rd quarter valued at $113,000. Penserra Capital Management LLC purchased a new position in shares of Western Gas Partners during the 3rd quarter valued at $142,000. The Manufacturers Life Insurance Company grew its holdings in shares of Western Gas Partners by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,954 shares of the pipeline company’s stock valued at $221,000 after acquiring an additional 265 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Western Gas Partners during the 4th quarter valued at $231,000. Finally, Whalerock Point Partners LLC purchased a new position in shares of Western Gas Partners during the 4th quarter valued at $264,000. Hedge funds and other institutional investors own 62.21% of the company’s stock.

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About Western Gas Partners

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.

Analyst Recommendations for Western Gas Partners (NYSE:WES)

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