Western Gas Equity Partners, LP (NYSE:WGP) released its quarterly earnings data on Tuesday. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03, Briefing.com reports. The company had revenue of $574.70 million for the quarter, compared to analysts’ expectations of $530.80 million. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 2nd will be given a $0.5375 dividend. This is a boost from Western Gas Equity Partners,’s previous quarterly dividend of $0.53. The ex-dividend date is Wednesday, November 1st. This represents a $2.15 annualized dividend and a yield of 5.44%. Western Gas Equity Partners,’s dividend payout ratio (DPR) is presently 129.45%.
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A number of equities analysts have recently issued reports on WGP shares. Royal Bank Of Canada reissued a “buy” rating and set a $53.00 price objective on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. Deutsche Bank AG raised shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $54.00 in a research report on Thursday, July 13th. BidaskClub cut shares of Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research cut shares of Western Gas Equity Partners, from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Scotiabank reissued a “buy” rating and set a $51.00 price objective on shares of Western Gas Equity Partners, in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Western Gas Equity Partners, presently has a consensus rating of “Buy” and an average target price of $50.40.
A hedge fund recently raised its stake in Western Gas Equity Partners, stock. Northern Trust Corp boosted its holdings in Western Gas Equity Partners, LP (NYSE:WGP) by 35.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,537 shares of the pipeline company’s stock after purchasing an additional 2,500 shares during the quarter. Northern Trust Corp’s holdings in Western Gas Equity Partners, were worth $410,000 at the end of the most recent quarter. 17.85% of the stock is currently owned by institutional investors and hedge funds.
About Western Gas Equity Partners,
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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