HITE Hedge Asset Management LLC Purchases Shares of 101,919 Western Gas Partners, LP (WES)

HITE Hedge Asset Management LLC purchased a new stake in Western Gas Partners, LP (NYSE:WES) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 101,919 shares of the pipeline company’s stock, valued at approximately $5,226,000. Western Gas Partners accounts for approximately 1.4% of HITE Hedge Asset Management LLC’s holdings, making the stock its 19th largest holding. HITE Hedge Asset Management LLC owned approximately 0.07% of Western Gas Partners as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Alliancebernstein L.P. lifted its stake in Western Gas Partners by 40.6% during the first quarter. Alliancebernstein L.P. now owns 15,004 shares of the pipeline company’s stock worth $907,000 after purchasing an additional 4,332 shares during the last quarter. US Bancorp DE lifted its stake in Western Gas Partners by 4.5% during the second quarter. US Bancorp DE now owns 28,212 shares of the pipeline company’s stock worth $1,579,000 after purchasing an additional 1,215 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Western Gas Partners by 21.1% during the second quarter. Janney Montgomery Scott LLC now owns 18,050 shares of the pipeline company’s stock worth $1,010,000 after purchasing an additional 3,150 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Western Gas Partners by 42.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 115,600 shares of the pipeline company’s stock worth $6,467,000 after purchasing an additional 34,400 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its stake in Western Gas Partners by 60.2% during the second quarter. Chicago Partners Investment Group LLC now owns 2,396 shares of the pipeline company’s stock worth $139,000 after purchasing an additional 900 shares during the last quarter. Institutional investors and hedge funds own 54.20% of the company’s stock.

Several research firms have weighed in on WES. Stifel Nicolaus restated a “hold” rating and set a $54.00 target price on shares of Western Gas Partners in a research note on Thursday, October 12th. Seaport Global Securities began coverage on Western Gas Partners in a research note on Tuesday, October 10th. They set a “buy” rating and a $64.00 target price for the company. Zacks Investment Research cut Western Gas Partners from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. BidaskClub cut Western Gas Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Finally, Scotiabank set a $61.00 target price on Western Gas Partners and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Western Gas Partners has an average rating of “Hold” and a consensus target price of $59.55.

Shares of Western Gas Partners, LP (NYSE:WES) traded down $0.41 on Monday, hitting $45.05. The stock had a trading volume of 129,900 shares, compared to its average volume of 437,779. Western Gas Partners, LP has a one year low of $43.62 and a one year high of $67.44. The company has a market cap of $6,874.72, a PE ratio of 36.63, a price-to-earnings-growth ratio of 5.50 and a beta of 1.18. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.83.

Western Gas Partners (NYSE:WES) last announced its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.16). Western Gas Partners had a net margin of 26.41% and a return on equity of 14.68%. The firm had revenue of $574.70 million during the quarter, compared to the consensus estimate of $536.01 million. During the same quarter in the previous year, the company posted $0.54 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. research analysts anticipate that Western Gas Partners, LP will post 1.45 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Thursday, November 2nd were paid a $0.905 dividend. This represents a $3.62 dividend on an annualized basis and a dividend yield of 8.04%. This is a boost from Western Gas Partners’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Wednesday, November 1st. Western Gas Partners’s dividend payout ratio is presently 294.31%.

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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.

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

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