Western Gas Partners (NYSE:WES)‘s stock had its “overweight” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday. They currently have a $59.00 target price on the pipeline company’s stock, up from their prior target price of $57.00. JPMorgan Chase & Co.’s price target indicates a potential upside of 27.84% from the stock’s previous close.
Several other equities research analysts have also commented on WES. Barclays restated a “hold” rating and issued a $53.00 price objective (down previously from $54.00) on shares of Western Gas Partners in a research report on Wednesday, March 7th. UBS Group reaffirmed a “buy” rating and set a $61.00 target price (up from $59.00) on shares of Western Gas Partners in a research note on Friday, March 2nd. Zacks Investment Research downgraded Western Gas Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. ValuEngine downgraded Western Gas Partners from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Credit Suisse Group began coverage on Western Gas Partners in a research note on Thursday, January 4th. They set a “neutral” rating and a $49.00 target price for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.77.
Western Gas Partners (NYSE WES) traded down $0.22 during trading on Wednesday, reaching $46.15. The company’s stock had a trading volume of 2,046 shares, compared to its average volume of 605,508. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.87. Western Gas Partners has a 1-year low of $42.68 and a 1-year high of $61.78. The stock has a market cap of $7,196.71, a price-to-earnings ratio of 36.51, a PEG ratio of 3.60 and a beta of 1.12.
A number of hedge funds and other institutional investors have recently bought and sold shares of WES. The Manufacturers Life Insurance Company raised its stake in Western Gas Partners by 7.2% in 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 during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Western Gas Partners by 24.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 50,281 shares of the pipeline company’s stock valued at $2,578,000 after buying an additional 9,826 shares in the last quarter. FDx Advisors Inc. grew its holdings in Western Gas Partners by 35.8% in the 3rd quarter. FDx Advisors Inc. now owns 9,672 shares of the pipeline company’s stock valued at $496,000 after buying an additional 2,549 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Western Gas Partners by 46.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,655 shares of the pipeline company’s stock valued at $495,000 after buying an additional 3,083 shares in the last quarter. Finally, Commonwealth Equity Services Inc grew its holdings in Western Gas Partners by 32.0% in the 3rd quarter. Commonwealth Equity Services Inc now owns 6,422 shares of the pipeline company’s stock valued at $329,000 after buying an additional 1,556 shares in the last quarter. 58.97% of the stock is owned by hedge funds and other institutional investors.
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Western Gas Partners Company Profile
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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