Western Gas Equity Partners, LP (NYSE:WGP) Given a $51.00 Price Target at Scotiabank

Western Gas Equity Partners, LP (NYSE:WGP) has been given a $51.00 price objective by equities research analysts at Scotiabank in a report issued on Wednesday, August 16th. The firm presently has a “buy” rating on the pipeline company’s stock. Scotiabank’s price target would indicate a potential upside of 27.92% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Thursday, July 20th. Deutsche Bank AG upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and boosted their target price for the stock from $50.00 to $54.00 in a research report on Thursday, July 13th. Macquarie started coverage on shares of Western Gas Equity Partners, in a research report on Friday, April 21st. They issued an “outperform” rating and a $51.00 price objective on the stock. Finally, BidaskClub upgraded shares of Western Gas Equity Partners, from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $50.56.

Western Gas Equity Partners, (NYSE WGP) traded down 1.56% during midday trading on Wednesday, reaching $39.87. 168,019 shares of the company’s stock traded hands. Western Gas Equity Partners, has a 1-year low of $35.81 and a 1-year high of $47.82. The company has a market capitalization of $8.73 billion, a price-to-earnings ratio of 24.52 and a beta of 1.57. The firm’s 50-day moving average is $40.92 and its 200-day moving average is $43.52.

Western Gas Equity Partners, (NYSE:WGP) last posted its quarterly earnings data on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The firm had revenue of $525.50 million for the quarter, compared to analyst estimates of $505.77 million. During the same period last year, the firm posted $0.41 EPS. Western Gas Equity Partners,’s quarterly revenue was up 22.6% on a year-over-year basis. Analysts forecast that Western Gas Equity Partners, will post $1.62 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its holdings in shares of Western Gas Equity Partners, by 78.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock worth $158,000 after purchasing an additional 1,505 shares during the period. Clinton Group Inc. purchased a new stake in shares of Western Gas Equity Partners, during the 2nd quarter worth about $201,000. Taylor Wealth Management Partners grew its holdings in shares of Western Gas Equity Partners, by 1,050.0% during the 1st quarter. Taylor Wealth Management Partners now owns 4,600 shares of the pipeline company’s stock worth $212,000 after purchasing an additional 4,200 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of Western Gas Equity Partners, by 10.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 5,342 shares of the pipeline company’s stock worth $226,000 after purchasing an additional 519 shares during the period. Finally, Doliver Capital Advisors LP purchased a new stake in shares of Western Gas Equity Partners, during the 2nd quarter worth about $241,000. 17.81% of the stock is owned by institutional investors.

Western Gas Equity Partners, Company Profile

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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