Advisors Asset Management Inc. trimmed its position in Western Gas Partners, LP (NYSE:WES) by 35.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,785 shares of the pipeline company’s stock after selling 13,499 shares during the period. Advisors Asset Management Inc.’s holdings in Western Gas Partners were worth $1,271,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of WES. Center Coast Capital Advisors LP boosted its holdings in Western Gas Partners by 67.0% in the 3rd quarter. Center Coast Capital Advisors LP now owns 4,061,697 shares of the pipeline company’s stock worth $208,284,000 after buying an additional 1,629,760 shares during the last quarter. Alps Advisors Inc. lifted its stake in Western Gas Partners by 16.3% in the 2nd quarter. Alps Advisors Inc. now owns 7,319,167 shares of the pipeline company’s stock worth $409,434,000 after purchasing an additional 1,024,568 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in Western Gas Partners by 4.5% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 11,649,319 shares of the pipeline company’s stock worth $651,663,000 after purchasing an additional 499,048 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Western Gas Partners by 56.9% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 731,000 shares of the pipeline company’s stock worth $37,486,000 after purchasing an additional 265,000 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new position in Western Gas Partners in the 2nd quarter worth approximately $13,959,000. Institutional investors own 61.80% of the company’s stock.
Western Gas Partners, LP (NYSE WES) traded up $0.22 during trading hours on Friday, hitting $46.30. 494,905 shares of the company’s stock traded hands, compared to its average volume of 483,940. The firm has a market capitalization of $7,031.90, a P/E ratio of 37.46, a price-to-earnings-growth ratio of 5.35 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Western Gas Partners, LP has a fifty-two week low of $42.68 and a fifty-two week high of $67.44.
Western Gas Partners (NYSE:WES) last posted its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.16). The business had revenue of $574.70 million during the quarter, compared to analyst estimates of $536.01 million. Western Gas Partners had a return on equity of 14.68% and a net margin of 26.41%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. research analysts expect that Western Gas Partners, LP will post 1.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Thursday, November 2nd were paid a dividend of $0.905 per share. The ex-dividend date was Wednesday, November 1st. This represents a $3.62 dividend on an annualized basis and a dividend yield of 7.82%. This is an increase from Western Gas Partners’s previous quarterly dividend of $0.89. Western Gas Partners’s payout ratio is presently 294.31%.
A number of research firms have weighed in on WES. BidaskClub lowered shares of Western Gas Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised shares of Western Gas Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Scotiabank set a $61.00 price target on shares of Western Gas Partners and gave the company a “hold” rating in a research report on Wednesday, August 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 price target on shares of Western Gas Partners in a research report on Thursday, October 12th. Finally, Morgan Stanley reduced their price target on shares of Western Gas Partners from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $59.55.
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Western Gas Partners Company Profile
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.
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