Barclays Lowers Western Gas Equity Partners (WGP) to Equal Weight

Barclays cut shares of Western Gas Equity Partners (NYSE:WGP) from an overweight rating to an equal weight rating in a report released on Wednesday morning, MarketBeat.com reports. They currently have $45.00 price objective on the pipeline company’s stock, down from their prior price objective of $51.00.

Several other brokerages have also recently commented on WGP. Credit Suisse Group started coverage on shares of Western Gas Equity Partners in a research note on Thursday, January 4th. They set an outperform rating and a $49.00 price objective for the company. UBS Group upgraded shares of Western Gas Equity Partners from a neutral rating to a buy rating and set a $44.00 price objective for the company in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded shares of Western Gas Equity Partners from a hold rating to a buy rating and set a $43.00 price objective for the company in a research note on Thursday, November 9th. Scotiabank restated a buy rating and set a $51.00 price objective on shares of Western Gas Equity Partners in a research note on Wednesday, October 25th. Finally, TheStreet cut shares of Western Gas Equity Partners from a b rating to a c+ rating in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $48.75.

Shares of Western Gas Equity Partners (NYSE:WGP) opened at $40.42 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 0.91. Western Gas Equity Partners has a 12 month low of $33.92 and a 12 month high of $47.82. The company has a market cap of $8,739.81, a P/E ratio of 24.50 and a beta of 1.50.

Western Gas Equity Partners (NYSE:WGP) last announced its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. Western Gas Equity Partners had a net margin of 16.96% and a return on equity of 8.99%. The business had revenue of $574.70 million during the quarter, compared to analysts’ expectations of $530.80 million. During the same period in the previous year, the business posted $0.54 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. equities research analysts predict that Western Gas Equity Partners will post 1.7 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Saratoga Research & Investment Management acquired a new position in shares of Western Gas Equity Partners in the 3rd quarter valued at $146,000. BNP Paribas Arbitrage SA lifted its stake in shares of Western Gas Equity Partners by 14.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,923 shares of the pipeline company’s stock valued at $169,000 after purchasing an additional 503 shares during the period. Clinton Group Inc. acquired a new position in shares of Western Gas Equity Partners in the 2nd quarter valued at $201,000. Doliver Capital Advisors LP acquired a new position in shares of Western Gas Equity Partners in the 2nd quarter valued at $241,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Western Gas Equity Partners by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,598 shares of the pipeline company’s stock valued at $284,000 after purchasing an additional 452 shares during the period. Hedge funds and other institutional investors own 18.51% of the company’s stock.

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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.

Analyst Recommendations for Western Gas Equity Partners (NYSE:WGP)

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