Summit Equities Inc lowered its stake in Western Gas Partners, LP (NYSE:WES) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,837 shares of the pipeline company’s stock after selling 2,220 shares during the period. Western Gas Partners makes up approximately 0.1% of Summit Equities Inc’s investment portfolio, making the stock its 25th biggest position. Summit Equities Inc’s holdings in Western Gas Partners were worth $714,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Magnetar Financial LLC grew its position in Western Gas Partners by 49.0% in the third quarter. Magnetar Financial LLC now owns 1,691,700 shares of the pipeline company’s stock worth $86,750,000 after acquiring an additional 556,180 shares in the last quarter. Cohen & Steers Inc. purchased a new position in shares of Western Gas Partners during the third quarter valued at approximately $2,051,000. Frontier Investment Mgmt Co. purchased a new position in shares of Western Gas Partners during the fourth quarter valued at approximately $231,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Western Gas Partners by 122.2% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 265,573 shares of the pipeline company’s stock valued at $13,619,000 after buying an additional 146,069 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in shares of Western Gas Partners by 116.6% during the third quarter. Evergreen Capital Management LLC now owns 228,774 shares of the pipeline company’s stock valued at $11,732,000 after buying an additional 123,175 shares during the period. Institutional investors own 58.95% of the company’s stock.
Several brokerages have issued reports on WES. Zacks Investment Research lowered Western Gas Partners from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. Barclays restated a “hold” rating and set a $53.00 target price (down previously from $54.00) on shares of Western Gas Partners in a research report on Wednesday, March 7th. JPMorgan Chase & Co. restated an “overweight” rating and set a $59.00 target price (up previously from $57.00) on shares of Western Gas Partners in a research report on Wednesday, March 14th. Stifel Nicolaus set a $62.00 target price on Western Gas Partners and gave the company a “buy” rating in a research report on Tuesday, February 20th. Finally, ValuEngine lowered Western Gas Partners from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $57.77.
WES stock traded up $0.09 during trading on Wednesday, hitting $45.06. 6,351 shares of the stock traded hands, compared to its average volume of 627,057. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.87. Western Gas Partners, LP has a 1 year low of $42.68 and a 1 year high of $61.78. The company has a market capitalization of $6,891.51, a P/E ratio of 35.56, a PEG ratio of 3.42 and a beta of 1.12.
Western Gas Partners (NYSE:WES) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.08). The company had revenue of $632.02 million for the quarter, compared to the consensus estimate of $569.17 million. Western Gas Partners had a net margin of 25.24% and a return on equity of 14.38%. The business’s revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. research analysts expect that Western Gas Partners, LP will post 2.2 earnings per share for the current year.
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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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