Eagle Global Advisors LLC Purchases New Stake in Western Gas Partners, LP (WES)

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Eagle Global Advisors LLC purchased a new stake in Western Gas Partners, LP (NYSE:WES) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 933,001 shares of the pipeline company’s stock, valued at approximately $39,401,000. Western Gas Partners accounts for about 1.7% of Eagle Global Advisors LLC’s portfolio, making the stock its 16th biggest position.

Several other large investors have also modified their holdings of WES. Whittier Trust Co. acquired a new stake in shares of Western Gas Partners in the third quarter valued at about $183,000. Plancorp LLC bought a new stake in shares of Western Gas Partners in the third quarter valued at about $201,000. Gryphon Financial Partners LLC lifted its stake in shares of Western Gas Partners by 113.4% in the third quarter. Gryphon Financial Partners LLC now owns 5,091 shares of the pipeline company’s stock valued at $222,000 after buying an additional 2,705 shares during the period. Parkside Financial Bank & Trust bought a new stake in shares of Western Gas Partners in the third quarter valued at about $252,000. Finally, LVW Advisors LLC lifted its stake in shares of Western Gas Partners by 40.1% in the third quarter. LVW Advisors LLC now owns 5,850 shares of the pipeline company’s stock valued at $256,000 after buying an additional 1,675 shares during the period. 59.67% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on the stock. Barclays increased their target price on shares of Western Gas Partners from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, October 12th. Stifel Nicolaus set a $56.00 target price on shares of Western Gas Partners and gave the company a “buy” rating in a research note on Thursday, November 1st. Credit Suisse Group assumed coverage on shares of Western Gas Partners in a research note on Thursday, October 11th. They issued a “neutral” rating and a $45.00 target price for the company. Zacks Investment Research upgraded shares of Western Gas Partners from a “sell” rating to a “hold” rating in a research note on Saturday, January 12th. Finally, Bank of America upgraded shares of Western Gas Partners from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, November 7th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Western Gas Partners currently has a consensus rating of “Hold” and a consensus price target of $51.42.

WES traded down $1.48 during midday trading on Thursday, reaching $49.09. 8,879 shares of the company’s stock were exchanged, compared to its average volume of 685,010. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 38.34 and a beta of 1.19. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.25. Western Gas Partners, LP has a one year low of $38.35 and a one year high of $53.44.

Western Gas Partners (NYSE:WES) last announced its quarterly earnings results on Tuesday, October 30th. The pipeline company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.28). The business had revenue of $507.76 million for the quarter, compared to the consensus estimate of $472.96 million. Western Gas Partners had a return on equity of 12.78% and a net margin of 24.11%. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS. Equities research analysts expect that Western Gas Partners, LP will post 1.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 13th. Shareholders of record on Friday, February 1st will be paid a dividend of $0.98 per share. This is a boost from Western Gas Partners’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $3.92 dividend on an annualized basis and a yield of 7.99%. Western Gas Partners’s dividend payout ratio (DPR) is currently 296.92%.

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Western Gas Partners Profile

Western Gas Partners, LP acquires, develops, owns, and operates midstream energy assets in the Rocky Mountains, North-central Pennsylvania, and Texas. It is involved in gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil. Western Gas Holdings, LLC serves as the general partner of Western Gas Partners, LP.

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Want to see what other hedge funds are holding WES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Gas Partners, LP (NYSE:WES).

Institutional Ownership by Quarter for Western Gas Partners (NYSE:WES)

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