Nuveen Asset Management LLC cut its stake in Western Gas Partners, LP (NYSE:WES) by 7.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,371 shares of the pipeline company’s stock after selling 518 shares during the period. Nuveen Asset Management LLC’s holdings in Western Gas Partners, were worth $385,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hirtle Callaghan & Co LLC purchased a new position in shares of Western Gas Partners, during the first quarter valued at about $121,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Western Gas Partners, during the first quarter valued at about $181,000. Suntrust Banks Inc. purchased a new position in shares of Western Gas Partners, during the first quarter valued at about $201,000. Reynders McVeigh Capital Management LLC purchased a new position in shares of Western Gas Partners, during the first quarter valued at about $203,000. Finally, Signature Financial Management Inc. purchased a new position in shares of Western Gas Partners, during the first quarter valued at about $206,000. 54.34% of the stock is currently owned by institutional investors.
Western Gas Partners, LP (WES) traded up 0.20% during mid-day trading on Friday, hitting $49.52. The stock had a trading volume of 269,209 shares. The firm has a 50-day moving average of $53.90 and a 200-day moving average of $58.08. The stock has a market cap of $7.56 billion, a P/E ratio of 35.40 and a beta of 1.19. Western Gas Partners, LP has a 52-week low of $46.85 and a 52-week high of $67.44.
Western Gas Partners, (NYSE:WES) last issued its earnings results on Tuesday, July 25th. The pipeline company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by $0.04. The firm had revenue of $525.45 million for the quarter, compared to analyst estimates of $488.21 million. Western Gas Partners, had a return on equity of 15.80% and a net margin of 28.81%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, analysts forecast that Western Gas Partners, LP will post $1.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Monday, July 31st will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 7.19%. This is an increase from Western Gas Partners,’s previous quarterly dividend of $0.88. Western Gas Partners,’s payout ratio is presently 256.12%.
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Several brokerages recently issued reports on WES. Zacks Investment Research raised Western Gas Partners, from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 11th. BidaskClub raised Western Gas Partners, from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Stifel Nicolaus reaffirmed a “hold” rating and set a $60.00 target price on shares of Western Gas Partners, in a research report on Friday, July 14th. Citigroup Inc. increased their target price on Western Gas Partners, from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, April 25th. Finally, Macquarie began coverage on Western Gas Partners, in a research report on Friday, April 21st. They set an “outperform” rating and a $51.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Western Gas Partners, currently has a consensus rating of “Hold” and a consensus price target of $61.18.
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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