Western Gas Partners, LP (WES) Price Target Lowered to $62.00 at Barclays PLC

Western Gas Partners, LP (NYSE:WES) had its price objective dropped by equities researchers at Barclays PLC from $63.00 to $62.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an “overweight” rating on the pipeline company’s stock. Barclays PLC’s target price suggests a potential upside of 29.46% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Scotiabank reissued a “hold” rating and issued a $61.00 price target on shares of Western Gas Partners, in a report on Wednesday, October 25th. Seaport Global Securities started coverage on Western Gas Partners, in a report on Tuesday, October 10th. They issued a “buy” rating and a $64.00 price target for the company. BidaskClub raised Western Gas Partners, from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research downgraded Western Gas Partners, from a “strong-buy” rating to a “hold” rating in a report on Saturday, July 29th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $54.00 price target on shares of Western Gas Partners, in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $59.83.

Western Gas Partners, (NYSE:WES) last issued its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.16). The business had revenue of $574.70 million during the quarter, compared to analyst estimates of $536.01 million. Western Gas Partners, had a return on equity of 14.93% and a net margin of 26.41%. Western Gas Partners,’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS.

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Several hedge funds have recently bought and sold shares of the stock. Stephens Inc. AR raised its holdings in shares of Western Gas Partners, by 1.6% in the 2nd quarter. Stephens Inc. AR now owns 6,100 shares of the pipeline company’s stock valued at $341,000 after buying an additional 96 shares during the period. Linscomb & Williams Inc. raised its holdings in shares of Western Gas Partners, by 2.5% in the 2nd quarter. Linscomb & Williams Inc. now owns 9,886 shares of the pipeline company’s stock valued at $553,000 after buying an additional 241 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Western Gas Partners, by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,954 shares of the pipeline company’s stock valued at $221,000 after buying an additional 265 shares during the period. Signature Financial Management Inc. raised its holdings in shares of Western Gas Partners, by 9.6% in the 2nd quarter. Signature Financial Management Inc. now owns 3,725 shares of the pipeline company’s stock valued at $208,000 after buying an additional 325 shares during the period. Finally, Comerica Bank raised its holdings in shares of Western Gas Partners, by 5.1% in the 2nd quarter. Comerica Bank now owns 6,817 shares of the pipeline company’s stock valued at $361,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 59.63% of the company’s stock.

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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