Western Gas Equity Partners LP (WGP) Position Boosted by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC boosted its position in shares of Western Gas Equity Partners LP (NYSE:WGP) by 28.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,407 shares of the pipeline company’s stock after buying an additional 30,952 shares during the period. Catalyst Capital Advisors LLC owned about 0.06% of Western Gas Equity Partners worth $6,427,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC raised its position in Western Gas Equity Partners by 43.4% in the third quarter. Neuberger Berman Group LLC now owns 8,883,015 shares of the pipeline company’s stock worth $377,439,000 after buying an additional 2,686,948 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Western Gas Equity Partners by 1.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 960,846 shares of the pipeline company’s stock worth $40,692,000 after buying an additional 10,245 shares during the period. Center Coast Capital Advisors LP raised its position in Western Gas Equity Partners by 6.8% in the first quarter. Center Coast Capital Advisors LP now owns 853,563 shares of the pipeline company’s stock worth $39,338,000 after buying an additional 54,164 shares during the period. RR Advisors LLC raised its position in Western Gas Equity Partners by 4.0% in the fourth quarter. RR Advisors LLC now owns 619,000 shares of the pipeline company’s stock worth $26,203,000 after buying an additional 24,000 shares during the period. Finally, ING Groep NV purchased a new position in Western Gas Equity Partners during the first quarter worth approximately $23,207,000. 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% on Friday, reaching $44.64. 86,269 shares of the company traded hands. The stock has a 50-day moving average price of $45.19 and a 200 day moving average price of $44.45. Western Gas Equity Partners LP has a 1-year low of $33.93 and a 1-year high of $47.82. The firm has a market capitalization of $9.77 billion, a P/E ratio of 28.74 and a beta of 1.60.

Western Gas Equity Partners (NYSE:WGP) last posted its earnings results on Tuesday, May 2nd. The pipeline company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.04. The company had revenue of $516.19 million for the quarter, compared to analysts’ expectations of $501.83 million. Western Gas Equity Partners had a net margin of 13.89% and a return on equity of 5.97%. Analysts anticipate that Western Gas Equity Partners LP will post $1.73 EPS for the current fiscal year.

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

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A number of research analysts have recently commented on WGP shares. 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. Royal Bank of Canada restated a “buy” rating and set a $53.00 price target on shares of Western Gas Equity Partners in a research report on Friday, April 7th. Macquarie started 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 price target for the company. Bank of America Corp upgraded shares of Western Gas Equity Partners from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $41.00 to $46.00 in a research report on Monday, February 27th. Finally, Guggenheim started 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 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Western Gas Equity Partners has a consensus rating of “Hold” and an average target price of $47.64.

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.

12 Month Chart for NYSE:WGP

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