Heronetta Management L.P. Boosts Position in Western Gas Equity Partners, LP (WGP)

Heronetta Management L.P. boosted its position in shares of Western Gas Equity Partners, LP (NYSE:WGP) by 32.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,500 shares of the pipeline company’s stock after acquiring an additional 8,300 shares during the quarter. Western Gas Equity Partners, accounts for 0.8% of Heronetta Management L.P.’s portfolio, making the stock its 27th biggest holding. Heronetta Management L.P.’s holdings in Western Gas Equity Partners, were worth $1,380,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Neuberger Berman Group LLC increased its position in Western Gas Equity Partners, by 4.3% during the second quarter. Neuberger Berman Group LLC now owns 11,193,080 shares of the pipeline company’s stock valued at $481,526,000 after acquiring an additional 458,259 shares during the last quarter. Chickasaw Capital Management LLC increased its position in Western Gas Equity Partners, by 0.5% during the second quarter. Chickasaw Capital Management LLC now owns 5,109,279 shares of the pipeline company’s stock valued at $219,801,000 after acquiring an additional 24,540 shares during the last quarter. Spirit of America Management Corp NY increased its position in Western Gas Equity Partners, by 23.7% during the third quarter. Spirit of America Management Corp NY now owns 189,373 shares of the pipeline company’s stock valued at $7,798,000 after acquiring an additional 36,300 shares during the last quarter. NBW Capital LLC increased its position in Western Gas Equity Partners, by 2.8% during the second quarter. NBW Capital LLC now owns 186,275 shares of the pipeline company’s stock valued at $8,014,000 after acquiring an additional 5,010 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in Western Gas Equity Partners, by 2.4% during the second quarter. Catalyst Capital Advisors LLC now owns 142,794 shares of the pipeline company’s stock valued at $6,143,000 after acquiring an additional 3,387 shares during the last quarter. Institutional investors own 17.85% of the company’s stock.

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Shares of Western Gas Equity Partners, LP (NYSE:WGP) traded down $0.80 on Friday, reaching $38.06. The company’s stock had a trading volume of 224,976 shares, compared to its average volume of 152,438. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.91 and a quick ratio of 1.21. The firm has a market cap of $8,354.49, a PE ratio of 22.99 and a beta of 1.55.

Western Gas Equity Partners, (NYSE:WGP) last released its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $574.70 million during the quarter, compared to analyst estimates of $530.80 million. Western Gas Equity Partners, had a return on equity of 8.99% and a net margin of 16.96%. Western Gas Equity Partners,’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. equities analysts forecast that Western Gas Equity Partners, LP will post 1.53 earnings per share for the current fiscal year.

The business 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 positive change from Western Gas Equity Partners,’s previous quarterly dividend of $0.53. This represents a $2.15 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date is Wednesday, November 1st. Western Gas Equity Partners,’s dividend payout ratio is presently 130.30%.

A number of analysts recently commented on WGP shares. Scotiabank set a $51.00 price objective on Western Gas Equity Partners, and gave the company a “buy” rating in a research report on Tuesday, July 11th. Deutsche Bank AG upgraded Western Gas Equity Partners, from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $54.00 in a research report on Thursday, July 13th. Zacks Investment Research upgraded Western Gas Equity Partners, from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a research report on Thursday, July 13th. BidaskClub cut Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $53.00 price target on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $49.45.

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

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