Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Holdings in Western Gas Equity Partners, LP (NYSE:WGP)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Western Gas Equity Partners, LP (NYSE:WGP) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 867,019 shares of the pipeline company’s stock after buying an additional 13,337 shares during the period. Western Gas Equity Partners makes up about 0.5% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 28th biggest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.40% of Western Gas Equity Partners worth $35,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Neuberger Berman Group LLC grew its position in Western Gas Equity Partners by 4.3% in the second quarter. Neuberger Berman Group LLC now owns 11,193,080 shares of the pipeline company’s stock valued at $481,526,000 after purchasing an additional 458,259 shares in the last quarter. ING Groep NV grew its position in shares of Western Gas Equity Partners by 360.0% in the 3rd quarter. ING Groep NV now owns 230,000 shares of the pipeline company’s stock valued at $9,471,000 after acquiring an additional 180,000 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Western Gas Equity Partners in the 2nd quarter valued at about $4,738,000. First Trust Advisors LP bought a new position in shares of Western Gas Equity Partners in the 3rd quarter valued at about $3,957,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Western Gas Equity Partners in the 3rd quarter valued at about $2,878,000. Institutional investors own 18.39% of the company’s stock.

Shares of Western Gas Equity Partners, LP (NYSE:WGP) traded down $0.08 during trading hours on Wednesday, hitting $36.30. 124,900 shares of the stock traded hands, compared to its average volume of 158,721. The firm has a market cap of $7,964.79, a PE ratio of 21.92 and a beta of 1.50. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.84. Western Gas Equity Partners, LP has a one year low of $33.92 and a one year high of $47.82.

Western Gas Equity Partners (NYSE:WGP) last announced its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $574.70 million for the quarter, compared to analyst estimates of $530.80 million. Western Gas Equity Partners had a net margin of 16.96% and a return on equity of 8.99%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. sell-side analysts forecast that Western Gas Equity Partners, LP will post 1.7 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 2nd were issued a dividend of $0.5375 per share. The ex-dividend date was Wednesday, November 1st. This is a positive change from Western Gas Equity Partners’s previous quarterly dividend of $0.53. This represents a $2.15 annualized dividend and a dividend yield of 5.92%. Western Gas Equity Partners’s payout ratio is 130.30%.

Several analysts recently commented on the stock. TheStreet downgraded shares of Western Gas Equity Partners from a “b” rating to a “c+” rating in a report on Monday, October 16th. Zacks Investment Research cut shares of Western Gas Equity Partners from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Seaport Global Securities assumed coverage on shares of Western Gas Equity Partners in a research note on Tuesday, October 10th. They issued a “buy” rating and a $49.00 price objective for the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $53.00 price objective on shares of Western Gas Equity Partners in a research note on Monday, August 21st. Finally, BidaskClub upgraded shares of Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $49.67.

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Western Gas Equity Partners 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.

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

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