Stock analysts at Credit Suisse Group initiated coverage on shares of Western Gas Partners (NYSE:WES) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $49.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target would indicate a potential downside of 5.31% from the company’s current price.
A number of other research firms have also commented on WES. Zacks Investment Research lowered Western Gas Partners from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Seaport Global Securities began coverage on Western Gas Partners in a research note on Tuesday, October 10th. They set a “buy” rating and a $64.00 price objective on the stock. Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective on shares of Western Gas Partners in a research note on Thursday, October 12th. Scotiabank restated a “hold” rating and set a $61.00 price objective on shares of Western Gas Partners in a research note on Wednesday, October 25th. Finally, Morgan Stanley lowered their price objective on Western Gas Partners from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $58.67.
Shares of Western Gas Partners (WES) traded down $0.91 during midday trading on Thursday, hitting $51.75. The stock had a trading volume of 717,317 shares, compared to its average volume of 517,956. The company has a market capitalization of $7,897.15, a price-to-earnings ratio of 42.07, a P/E/G ratio of 3.81 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 has a one year low of $42.68 and a one year high of $67.44.
Hedge funds have recently modified their holdings of the business. California Public Employees Retirement System boosted its holdings in shares of Western Gas Partners by 5.6% in the 2nd quarter. California Public Employees Retirement System now owns 154,500 shares of the pipeline company’s stock valued at $8,643,000 after purchasing an additional 8,200 shares in the last quarter. Cincinnati Insurance Co. boosted its holdings in shares of Western Gas Partners by 28.9% in the 3rd quarter. Cincinnati Insurance Co. now owns 56,828 shares of the pipeline company’s stock valued at $2,914,000 after purchasing an additional 12,726 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Western Gas Partners by 58.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 182,800 shares of the pipeline company’s stock valued at $9,374,000 after purchasing an additional 67,200 shares in the last quarter. Magnetar Financial LLC boosted its holdings in shares of Western Gas Partners by 49.0% in the 3rd quarter. Magnetar Financial LLC now owns 1,691,700 shares of the pipeline company’s stock valued at $86,750,000 after purchasing an additional 556,180 shares in the last quarter. Finally, Keybank National Association OH boosted its holdings in shares of Western Gas Partners by 101.4% in the 2nd quarter. Keybank National Association OH now owns 9,655 shares of the pipeline company’s stock valued at $540,000 after purchasing an additional 4,860 shares in the last quarter. 61.76% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: “Western Gas Partners (WES) Now Covered by Credit Suisse Group” was reported by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/07/western-gas-partners-wes-now-covered-by-credit-suisse-group.html.
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.
