Bank of America Initiates Coverage on Western Gas Partners (WES)

Investment analysts at Bank of America assumed coverage on shares of Western Gas Partners (NYSE:WES) in a report released on Tuesday, The Fly reports. The firm set a “neutral” rating on the pipeline company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Credit Suisse Group began coverage on shares of Western Gas Partners in a research report on Thursday, January 4th. They issued a “neutral” rating and a $49.00 target price for the company. ValuEngine lowered shares of Western Gas Partners from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Morgan Stanley dropped their price target on shares of Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. TheStreet lowered shares of Western Gas Partners from a “b-” rating to a “c+” rating in a research note on Monday, November 6th. Finally, Barclays lowered their target price on shares of Western Gas Partners from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $58.67.

Shares of Western Gas Partners (NYSE WES) opened at $52.23 on Tuesday. Western Gas Partners has a 12-month low of $42.68 and a 12-month high of $67.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $7,970.00, a P/E ratio of 39.27, a price-to-earnings-growth ratio of 3.81 and a beta of 1.14.

Western Gas Partners (NYSE:WES) last released its earnings results on Tuesday, October 31st. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.16). Western Gas Partners had a return on equity of 14.68% and a net margin of 26.41%. The company had revenue of $574.70 million during the quarter, compared to analysts’ expectations of $536.01 million. During the same quarter in the previous year, the company earned $0.54 EPS. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. equities analysts expect that Western Gas Partners will post 1.44 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Chickasaw Capital Management LLC increased its position in Western Gas Partners by 6.3% in the 4th quarter. Chickasaw Capital Management LLC now owns 2,858,653 shares of the pipeline company’s stock valued at $137,473,000 after acquiring an additional 168,361 shares in the last quarter. Atlantic Trust Group LLC increased its position in Western Gas Partners by 113.9% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,185,261 shares of the pipeline company’s stock valued at $60,780,000 after acquiring an additional 631,062 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Western Gas Partners by 6.9% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 260,071 shares of the pipeline company’s stock valued at $13,336,000 after acquiring an additional 16,830 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its position in Western Gas Partners by 6.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 12,847,861 shares of the pipeline company’s stock valued at $658,838,000 after acquiring an additional 803,574 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Western Gas Partners by 41.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 25,460 shares of the pipeline company’s stock valued at $1,306,000 after acquiring an additional 7,410 shares in the last quarter. 61.76% of the stock is owned by hedge funds and other institutional investors.

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About Western Gas Partners

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.

The Fly

Analyst Recommendations for Western Gas Partners (NYSE:WES)

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