Western Gas Equity Partners, LP (WGP) Downgraded to C+ at TheStreet

Western Gas Equity Partners, LP (NYSE:WGP) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a research note issued on Monday.

Several other brokerages also recently commented on WGP. Zacks Investment Research downgraded shares of Western Gas Equity Partners, from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Deutsche Bank AG upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $54.00 in a research note on Thursday, July 13th. Scotiabank set a $51.00 target price on shares of Western Gas Equity Partners, and gave the company a “buy” rating in a research note on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Western Gas Equity Partners, presently has an average rating of “Buy” and an average target price of $50.40.

Western Gas Equity Partners, (NYSE:WGP) opened at 39.39 on Monday. Western Gas Equity Partners, has a 52-week low of $38.71 and a 52-week high of $47.82. The stock has a 50 day moving average of $40.23 and a 200-day moving average of $42.36. The company has a market capitalization of $8.62 billion, a P/E ratio of 24.23 and a beta of 1.57.

Western Gas Equity Partners, (NYSE:WGP) last issued its earnings results on Tuesday, July 25th. The pipeline company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The company had revenue of $525.50 million for the quarter, compared to the consensus estimate of $505.77 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities analysts forecast that Western Gas Equity Partners, will post $1.62 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Linscomb & Williams Inc. lifted its position in Western Gas Equity Partners, by 0.4% during the 2nd quarter. Linscomb & Williams Inc. now owns 10,325 shares of the pipeline company’s stock worth $444,000 after buying an additional 45 shares in the last quarter. Signature Financial Management Inc. lifted its position in Western Gas Equity Partners, by 0.7% during the 2nd quarter. Signature Financial Management Inc. now owns 7,600 shares of the pipeline company’s stock worth $327,000 after buying an additional 50 shares in the last quarter. Keybank National Association OH lifted its position in Western Gas Equity Partners, by 5.1% during the 2nd quarter. Keybank National Association OH now owns 9,085 shares of the pipeline company’s stock worth $391,000 after buying an additional 440 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Western Gas Equity Partners, by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,598 shares of the pipeline company’s stock worth $284,000 after buying an additional 452 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in Western Gas Equity Partners, by 1.5% during the 2nd quarter. California Public Employees Retirement System now owns 34,300 shares of the pipeline company’s stock worth $1,476,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 17.80% of the company’s stock.

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.

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

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