Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Western Gas Partners, LP (NYSE:WES) by 40.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,308 shares of the pipeline company’s stock after acquiring an additional 4,958 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Western Gas Partners were worth $888,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of WES. Bank of New York Mellon Corp grew its stake in shares of Western Gas Partners by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 86,636 shares of the pipeline company’s stock worth $4,846,000 after acquiring an additional 1,017 shares during the period. Comerica Bank grew its stake in shares of Western Gas Partners by 5.1% during the 2nd quarter. Comerica Bank now owns 6,817 shares of the pipeline company’s stock worth $361,000 after acquiring an additional 330 shares during the period. BB&T Securities LLC grew its stake in shares of Western Gas Partners by 20.6% during the 2nd quarter. BB&T Securities LLC now owns 8,186 shares of the pipeline company’s stock worth $457,000 after acquiring an additional 1,401 shares during the period. Marshall Wace North America L.P. purchased a new stake in Western Gas Partners during the 2nd quarter worth about $5,279,000. Finally, Venturi Wealth Management LLC lifted its holdings in Western Gas Partners by 3.9% during the 2nd quarter. Venturi Wealth Management LLC now owns 34,712 shares of the pipeline company’s stock worth $1,942,000 after purchasing an additional 1,292 shares in the last quarter. Institutional investors own 61.76% of the company’s stock.
A number of analysts recently issued reports on WES shares. Zacks Investment Research cut Western Gas Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Seaport Global Securities started coverage on Western Gas Partners in a report on Tuesday, October 10th. They set a “buy” rating and a $64.00 price objective on the stock. Stifel Nicolaus reissued a “hold” rating and set a $54.00 price objective on shares of Western Gas Partners in a report on Thursday, October 12th. Scotiabank reissued a “hold” rating and set a $61.00 price objective on shares of Western Gas Partners in a report on Wednesday, October 25th. Finally, Morgan Stanley dropped their price objective on Western Gas Partners from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Western Gas Partners presently has an average rating of “Hold” and a consensus price target of $59.55.
Western Gas Partners (NYSE:WES) last released 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). Western Gas Partners had a net margin of 26.41% and a return on equity of 14.68%. The business had revenue of $574.70 million during the quarter, compared to analysts’ expectations of $536.01 million. During the same period in the previous year, the business earned $0.54 EPS. The business’s revenue was up 19.3% on a year-over-year basis. equities research analysts forecast that Western Gas Partners, LP will post 1.44 earnings per share for the current year.
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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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