Nuveen Asset Management LLC Sells 518 Shares of Western Gas Partners, LP (WES)

Nuveen Asset Management LLC reduced its position in Western Gas Partners, LP (NYSE:WES) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Several other institutional investors have also added to or reduced their stakes in the company. TIAA CREF Trust Co. FSB MO raised its position in Western Gas Partners, by 1.4% in the first quarter. TIAA CREF Trust Co. FSB MO now owns 23,304 shares of the pipeline company’s stock worth $1,409,000 after buying an additional 332 shares during the period. First Trust Advisors LP increased its stake in Western Gas Partners, by 342.4% in the first quarter. First Trust Advisors LP now owns 178,726 shares of the pipeline company’s stock worth $10,804,000 after buying an additional 138,324 shares in the last quarter. Linscomb & Williams Inc. increased its stake in Western Gas Partners, by 0.4% in the first quarter. Linscomb & Williams Inc. now owns 9,645 shares of the pipeline company’s stock worth $583,000 after buying an additional 35 shares in the last quarter. Virtu Financial LLC increased its stake in Western Gas Partners, by 84.2% in the first quarter. Virtu Financial LLC now owns 17,264 shares of the pipeline company’s stock worth $1,044,000 after buying an additional 7,892 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC purchased a new stake in Western Gas Partners, during the first quarter worth approximately $203,000. 55.32% of the stock is owned by hedge funds and other institutional investors.

Shares of Western Gas Partners, LP (WES) traded down 1.25% during midday trading on Friday, hitting $48.86. The stock had a trading volume of 406,455 shares. The firm’s 50 day moving average price is $53.17 and its 200 day moving average price is $57.60. Western Gas Partners, LP has a 52-week low of $46.85 and a 52-week high of $67.44. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 34.92 and a beta of 1.19.

Western Gas Partners, (NYSE:WES) last released its quarterly earnings results on Tuesday, July 25th. The pipeline company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The firm had revenue of $525.45 million for the quarter, compared to analysts’ expectations of $488.21 million. Western Gas Partners, had a net margin of 28.81% and a return on equity of 15.80%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. On average, equities research analysts expect that Western Gas Partners, LP will post $1.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, July 31st were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 7.29%. The ex-dividend date was Thursday, July 27th. This is a positive change 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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A number of equities research analysts have issued reports on the company. TheStreet upgraded Western Gas Partners, from a “c+” rating to a “b” rating in a research report on Wednesday, April 26th. Scotiabank set a $61.00 price objective on Western Gas Partners, and gave the company a “hold” rating in a research report on Wednesday. BidaskClub downgraded Western Gas Partners, from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Zacks Investment Research downgraded Western Gas Partners, from a “strong-buy” rating to a “hold” rating in a research report on Saturday, July 29th. Finally, Macquarie assumed coverage on Western Gas Partners, in a research report on Friday, April 21st. They set an “outperform” rating and a $51.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Western Gas Partners, currently has a consensus rating of “Hold” and a consensus price target of $61.18.

About Western Gas Partners,

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.

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

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