According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “
A number of other brokerages have also recently weighed in on WGP. Bank of America Corp raised shares of Western Gas Equity Partners from an underperform rating to a neutral rating and raised their price objective for the stock from $41.00 to $46.00 in a research note on Monday, February 27th. Royal Bank of Canada reaffirmed a buy rating and issued a $48.00 target price on shares of Western Gas Equity Partners in a research note on Friday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Western Gas Equity Partners has a consensus rating of Hold and an average target price of $43.64.
Western Gas Equity Partners (NYSE:WGP) opened at 46.13 on Wednesday. Western Gas Equity Partners has a 1-year low of $29.60 and a 1-year high of $47.82. The firm’s 50-day moving average price is $45.86 and its 200-day moving average price is $43.06. The firm has a market capitalization of $10.10 billion, a PE ratio of 30.19 and a beta of 1.60.
Western Gas Equity Partners (NYSE:WGP) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.02. Western Gas Equity Partners had a net margin of 13.89% and a return on equity of 5.97%. The business earned $510.82 million during the quarter, compared to analysts’ expectations of $484.79 million. During the same period last year, the company posted ($0.14) EPS. The company’s revenue was up 22.6% on a year-over-year basis. On average, equities research analysts predict that Western Gas Equity Partners will post $1.73 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, February 22nd. Shareholders of record on Thursday, February 2nd were issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Tuesday, January 31st. This is a positive change from Western Gas Equity Partners’s previous quarterly dividend of $0.45. Western Gas Equity Partners’s dividend payout ratio (DPR) is 183.17%.
Several institutional investors have recently made changes to their positions in WGP. Conning Inc. raised its position in shares of Western Gas Equity Partners by 1.1% in the third quarter. Conning Inc. now owns 114,433 shares of the company’s stock worth $4,862,000 after buying an additional 1,249 shares during the period. ELCO Management Co. LLC acquired a new position in Western Gas Equity Partners during the third quarter valued at $5,535,000. Neuberger Berman Group LLC raised its position in Western Gas Equity Partners by 43.4% in the third quarter. Neuberger Berman Group LLC now owns 8,883,015 shares of the company’s stock valued at $377,439,000 after buying an additional 2,686,948 shares during the last quarter. Center Coast Capital Advisors LP raised its position in Western Gas Equity Partners by 166,792.3% in the third quarter. Center Coast Capital Advisors LP now owns 891,205 shares of the company’s stock valued at $37,867,000 after buying an additional 890,671 shares during the last quarter. Finally, Chickasaw Capital Management LLC raised its position in Western Gas Equity Partners by 16.7% in the third quarter. Chickasaw Capital Management LLC now owns 5,179,631 shares of the company’s stock valued at $220,083,000 after buying an additional 741,480 shares during the last quarter. Institutional investors own 19.13% of the company’s stock.
About Western Gas Equity Partners
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.
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