Signature Financial Management Inc. Takes Position in Western Gas Equity Partners LP (WGP)

Signature Financial Management Inc. purchased a new position in Western Gas Equity Partners LP (NYSE:WGP) during the first quarter, according to its most recent filing with the SEC. The institutional investor purchased 7,550 shares of the pipeline company’s stock, valued at approximately $348,000.

Several other hedge funds also recently made changes to their positions in the company. BNP Paribas Arbitrage SA raised its stake in shares of Western Gas Equity Partners by 78.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock worth $158,000 after buying an additional 1,505 shares in the last quarter. Taylor Wealth Management Partners raised its stake in shares of Western Gas Equity Partners by 1,050.0% in the first quarter. Taylor Wealth Management Partners now owns 4,600 shares of the pipeline company’s stock valued at $212,000 after buying an additional 4,200 shares during the period. State Street Corp acquired a new stake in shares of Western Gas Equity Partners during the fourth quarter valued at about $227,000. Friedberg Investment Management acquired a new stake in shares of Western Gas Equity Partners during the fourth quarter valued at about $298,000. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Western Gas Equity Partners by 1.0% in the third quarter. Chicago Partners Investment Group LLC now owns 7,141 shares of the pipeline company’s stock valued at $303,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 19.13% of the company’s stock.

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

Shares of Western Gas Equity Partners LP (NYSE:WGP) traded up 1.71% during trading on Friday, reaching $44.64. 86,269 shares of the company’s stock traded hands. Western Gas Equity Partners LP has a one year low of $33.93 and a one year high of $47.82. The company has a 50 day moving average price of $45.19 and a 200-day moving average price of $44.45. The stock has a market cap of $9.77 billion, a P/E ratio of 28.74 and a beta of 1.60.

Western Gas Equity Partners (NYSE:WGP) last issued its quarterly earnings data on Tuesday, May 2nd. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $516.19 million for the quarter, compared to analyst estimates of $501.83 million. Western Gas Equity Partners had a return on equity of 5.97% and a net margin of 13.89%. On average, equities research analysts expect that Western Gas Equity Partners LP will post $1.73 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 22nd. Stockholders of record on Monday, May 1st will be paid a dividend of $0.4913 per share. This is a boost from Western Gas Equity Partners’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $1.97 dividend on an annualized basis and a dividend yield of 4.40%. Western Gas Equity Partners’s dividend payout ratio (DPR) is presently 183.17%.

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Several brokerages recently issued reports on WGP. Royal Bank of Canada restated a “buy” rating and set a $53.00 target price on shares of Western Gas Equity Partners in a research report on Friday, April 7th. Bank of America Corp upgraded shares of Western Gas Equity Partners from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $41.00 to $46.00 in a research report on Monday, February 27th. Macquarie began coverage on shares of Western Gas Equity Partners in a research report on Friday, April 21st. They set an “outperform” rating and a $51.00 target price for the company. Guggenheim began coverage on shares of Western Gas Equity Partners in a research report on Monday, April 17th. They set a “buy” rating and a $60.00 target price for the company. Finally, Zacks Investment Research lowered shares of Western Gas Equity Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $47.64.

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.

12 Month Chart for NYSE:WGP

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