Scotiabank Reiterates “Buy” Rating for Western Gas Equity Partners (WGP)

Western Gas Equity Partners (NYSE:WGP)‘s stock had its “buy” rating restated by stock analysts at Scotiabank in a report released on Monday. They presently have a $49.00 target price on the pipeline company’s stock. Scotiabank’s target price would suggest a potential upside of 20.10% from the stock’s current price.

WGP has been the subject of a number of other research reports. Bank of America assumed coverage on shares of Western Gas Equity Partners in a research report on Tuesday, January 9th. They set a “neutral” rating for the company. Seaport Global Securities assumed 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 objective for the company. Morgan Stanley cut their price objective on shares of Western Gas Equity Partners from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of Western Gas Equity Partners from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, TheStreet lowered shares of Western Gas Equity Partners from a “b” rating to a “c+” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $48.58.

Shares of Western Gas Equity Partners (NYSE:WGP) traded down $0.62 on Monday, hitting $40.80. 79,046 shares of the stock were exchanged, compared to its average volume of 193,379. The firm has a market capitalization of $9,068.21, a price-to-earnings ratio of 24.76 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 1-year low of $33.92 and a 1-year high of $47.82.

Western Gas Equity Partners (NYSE:WGP) last announced its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. The business had revenue of $574.70 million during the quarter, compared to analyst estimates of $530.80 million. Western Gas Equity Partners had a net margin of 16.96% and a return on equity of 8.99%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. equities research analysts predict that Western Gas Equity Partners will post 1.7 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Saratoga Research & Investment Management bought a new stake in Western Gas Equity Partners during the third quarter worth about $146,000. Clinton Group Inc. bought a new stake in Western Gas Equity Partners during the second quarter worth about $201,000. The Manufacturers Life Insurance Company grew its stake in Western Gas Equity Partners by 7.4% during the second 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. MHI Funds LLC bought a new stake in Western Gas Equity Partners during the fourth quarter worth about $290,000. Finally, Northern Trust Corp grew its stake in Western Gas Equity Partners by 35.5% during the second quarter. Northern Trust Corp now owns 9,537 shares of the pipeline company’s stock worth $410,000 after buying an additional 2,500 shares during the last quarter. 18.52% of the stock is currently owned by institutional investors and hedge funds.

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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.

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

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