Cushing Asset Management LP boosted its holdings in shares of Western Gas Partners, LP (NYSE:WES) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,162,761 shares of the pipeline company’s stock after purchasing an additional 40,609 shares during the period. Western Gas Partners accounts for approximately 1.7% of Cushing Asset Management LP’s holdings, making the stock its 19th largest holding. Cushing Asset Management LP owned approximately 0.76% of Western Gas Partners worth $55,918,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Ffcm LLC acquired a new stake in Western Gas Partners during the 3rd quarter valued at $113,000. Lucas Capital Management acquired a new stake in Western Gas Partners during the 4th quarter valued at $206,000. The Manufacturers Life Insurance Company increased its holdings in 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 purchasing an additional 265 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in Western Gas Partners during the 4th quarter valued at $231,000. Finally, Frontier Investment Mgmt Co. acquired a new stake in Western Gas Partners during the 4th quarter valued at $231,000. 58.97% of the stock is owned by hedge funds and other institutional investors.
WES has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Bank of America initiated coverage on Western Gas Partners in a report on Tuesday, January 9th. They set a “neutral” rating for the company. Stifel Nicolaus set a $62.00 price target on Western Gas Partners and gave the company a “buy” rating in a report on Tuesday, February 20th. ValuEngine cut Western Gas Partners from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Scotiabank reaffirmed a “hold” rating and set a $58.00 price target on shares of Western Gas Partners in a report on Monday, January 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $57.67.
Western Gas Partners (NYSE:WES) last announced its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.08). The firm had revenue of $632.02 million during the quarter, compared to the consensus estimate of $569.17 million. Western Gas Partners had a net margin of 25.24% and a return on equity of 14.38%. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 earnings per share. equities research analysts predict that Western Gas Partners, LP will post 2.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Shareholders of record on Thursday, February 1st were given a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 7.79%. This is a positive change from Western Gas Partners’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, January 31st. Western Gas Partners’s dividend payout ratio (DPR) is presently 289.76%.
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.
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