Chicago Partners Investment Group LLC boosted its position in shares of Western Gas Partners, LP (NYSE:WES) by 60.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,396 shares of the pipeline company’s stock after buying an additional 900 shares during the period. Chicago Partners Investment Group LLC’s holdings in Western Gas Partners, were worth $139,000 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 stock. Hirtle Callaghan & Co LLC bought a new stake in Western Gas Partners, during the first quarter worth $121,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Western Gas Partners, during the first quarter valued at $181,000. Suntrust Banks Inc. purchased a new position in Western Gas Partners, during the first quarter valued at about $201,000. Reynders McVeigh Capital Management LLC purchased a new position in Western Gas Partners, during the first quarter valued at about $203,000. Finally, Signature Financial Management Inc. purchased a new position in Western Gas Partners, during the first quarter valued at about $206,000. 55.32% of the stock is currently owned by institutional investors and hedge funds.
Western Gas Partners, LP (NYSE WES) traded down 1.25% during trading on Friday, hitting $48.86. 406,455 shares of the company traded hands. The stock has a market capitalization of $7.46 billion, a PE ratio of 34.92 and a beta of 1.19. The company’s 50 day moving average is $53.17 and its 200-day moving average is $57.60. 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 posted its quarterly earnings results on Tuesday, July 25th. The pipeline company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by $0.04. Western Gas Partners, had a return on equity of 15.80% and a net margin of 28.81%. The company had revenue of $525.45 million for the quarter, compared to analysts’ expectations of $488.21 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The firm’s revenue was up 22.6% on a year-over-year basis. Analysts predict that Western Gas Partners, LP will post $1.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, July 31st were issued a $0.89 dividend. This is a positive change from Western Gas Partners,’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 7.29%. The ex-dividend date of this dividend was Thursday, July 27th. Western Gas Partners,’s payout ratio is 256.12%.
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Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Western Gas Partners, from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. Scotiabank set a $61.00 target price on shares of Western Gas Partners, and gave the stock a “hold” rating in a report on Tuesday, July 11th. TheStreet downgraded shares of Western Gas Partners, from a “b” rating to a “c+” rating in a research report on Monday, June 5th. Zacks Investment Research downgraded shares of Western Gas Partners, from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 26th. Finally, Macquarie assumed coverage on shares of Western Gas Partners, in a research report on Friday, April 21st. They set an “outperform” rating and a $51.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price 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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