Western Gas Equity Partners, LP (WGP) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Western Gas Equity Partners, LP (NYSE:WGP) from a buy rating to a hold rating in a research report released on Thursday.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

Several other analysts have also commented on WGP. BidaskClub raised shares of Western Gas Equity Partners, from a strong sell rating to a sell rating in a research report on Tuesday, June 27th. Deutsche Bank AG raised shares of Western Gas Equity Partners, from a hold rating to a buy rating and increased their price target for the company from $50.00 to $54.00 in a research report on Thursday, July 13th. Royal Bank Of Canada reissued a buy rating and set a $53.00 price target on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. Finally, Scotiabank set a $51.00 price target on shares of Western Gas Equity Partners, and gave the company a buy rating in a research report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $50.56.

Shares of Western Gas Equity Partners, (NYSE:WGP) opened at 40.53 on Thursday. Western Gas Equity Partners, has a 1-year low of $38.71 and a 1-year high of $47.82. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 24.93 and a beta of 1.57. The firm’s 50-day moving average is $40.16 and its 200-day moving average is $42.55.

Western Gas Equity Partners, (NYSE:WGP) last released its quarterly 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. The business had revenue of $525.50 million during the quarter, compared to analyst estimates of $505.77 million. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. Analysts forecast that Western Gas Equity Partners, will post $1.62 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Western Gas Equity Partners, LP (WGP) Rating Lowered to Hold at Zacks Investment Research” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/09/western-gas-equity-partners-lp-wgp-rating-lowered-to-hold-at-zacks-investment-research.html.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of Western Gas Equity Partners, by 78.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock valued at $158,000 after purchasing an additional 1,505 shares during the last quarter. Clinton Group Inc. purchased a new position in shares of Western Gas Equity Partners, in the 2nd quarter valued at approximately $201,000. Proficio Capital Partners LLC raised its position in shares of Western Gas Equity Partners, by 10.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 5,342 shares of the pipeline company’s stock valued at $226,000 after purchasing an additional 519 shares during the last quarter. Doliver Capital Advisors LP purchased a new position in shares of Western Gas Equity Partners, in the 2nd quarter valued at approximately $241,000. Finally, Wetherby Asset Management Inc. raised its position in shares of Western Gas Equity Partners, by 11.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 6,000 shares of the pipeline company’s stock valued at $258,000 after purchasing an additional 600 shares during the last quarter. 17.80% of the stock is owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Western Gas Equity Partners, (NYSE:WGP)NYSE:WGP) opened at 40.53 on Thursday. Western Gas Equity Partners, has a 1-year low of $38.71 and a 1-year high of $47.82. The company has a market capitalization of $8.87 billion, a price-to-earnings ratio of 24.93 and a beta of 1.57. The firm’s 50-day moving average is $40.16 and its 200-day moving average is $42.55.

Western Gas Equity Partners, (NYSE:WGP) last released its quarterly 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. The business had revenue of $525.50 million during the quarter, compared to analyst estimates of $505.77 million. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The company’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. Analysts forecast that Western Gas Equity Partners, will post $1.62 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Western Gas Equity Partners, LP (WGP) Rating Lowered to Hold at Zacks Investment Research” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://ledgergazette.com/2017/10/09/western-gas-equity-partners-lp-wgp-rating-lowered-to-hold-at-zacks-investment-research.html.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of Western Gas Equity Partners, by 78.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock valued at $158,000 after purchasing an additional 1,505 shares during the last quarter. Clinton Group Inc. purchased a new position in shares of Western Gas Equity Partners, in the 2nd quarter valued at approximately $201,000. Proficio Capital Partners LLC raised its position in shares of Western Gas Equity Partners, by 10.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 5,342 shares of the pipeline company’s stock valued at $226,000 after purchasing an additional 519 shares during the last quarter. Doliver Capital Advisors LP purchased a new position in shares of Western Gas Equity Partners, in the 2nd quarter valued at approximately $241,000. Finally, Wetherby Asset Management Inc. raised its position in shares of Western Gas Equity Partners, by 11.1% in the 2nd quarter. Wetherby Asset Management Inc. now owns 6,000 shares of the pipeline company’s stock valued at $258,000 after purchasing an additional 600 shares during the last quarter. 17.80% of the stock is owned by hedge funds and other institutional investors.

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.

Get a free copy of the Zacks research report on Western Gas Equity Partners, (WGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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