Albert D Mason Inc. purchased a new stake in Western Gas Partners LP (NYSE:WES) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 17,275 shares of the pipeline company’s stock, valued at approximately $737,000.
Other hedge funds have also modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its stake in Western Gas Partners by 24.2% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,505 shares of the pipeline company’s stock valued at $1,034,000 after buying an additional 4,197 shares during the last quarter. Frontier Investment Mgmt Co. acquired a new position in shares of Western Gas Partners during the 4th quarter worth about $231,000. Cbre Clarion Securities LLC increased its stake in shares of Western Gas Partners by 14.0% during the 4th quarter. Cbre Clarion Securities LLC now owns 90,728 shares of the pipeline company’s stock worth $4,363,000 after purchasing an additional 11,125 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Western Gas Partners during the 4th quarter worth about $251,000. Finally, Charter Research & Investment Group Inc. acquired a new position in shares of Western Gas Partners during the 4th quarter worth about $1,489,000. Hedge funds and other institutional investors own 59.19% of the company’s stock.
Western Gas Partners traded up $0.46, reaching $52.25, on Thursday, according to Marketbeat. The company had a trading volume of 6,025 shares, compared to its average volume of 592,321. Western Gas Partners LP has a fifty-two week low of $51.86 and a fifty-two week high of $52.29. The firm has a market cap of $7.93 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 3.92 and a beta of 1.10. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.53 and a current ratio of 1.53.
Western Gas Partners (NYSE:WES) last announced its quarterly earnings results on Tuesday, May 1st. The pipeline company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.10). The company had revenue of $437.17 million during the quarter, compared to analyst estimates of $622.09 million. Western Gas Partners had a net margin of 28.35% and a return on equity of 15.44%. The firm’s quarterly revenue was down 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. equities analysts forecast that Western Gas Partners LP will post 2.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Wednesday, May 2nd were issued a $0.935 dividend. The ex-dividend date of this dividend was Tuesday, May 1st. This represents a $3.74 dividend on an annualized basis and a yield of 7.16%. This is an increase from Western Gas Partners’s previous quarterly dividend of $0.92. Western Gas Partners’s payout ratio is currently 287.69%.
Several research analysts have recently weighed in on WES shares. Citigroup upgraded shares of Western Gas Partners from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $55.00 to $46.00 in a research note on Tuesday, March 27th. Stifel Nicolaus set a $62.00 price objective on shares of Western Gas Partners and gave the stock a “buy” rating in a research note on Tuesday, February 20th. UBS restated a “buy” rating and set a $61.00 price objective (up from $59.00) on shares of Western Gas Partners in a research note on Friday, March 2nd. Deutsche Bank started coverage on shares of Western Gas Partners in a research note on Thursday, April 19th. They set a “buy” rating and a $53.00 price objective on the stock. Finally, Barclays lowered shares of Western Gas Partners from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $62.00 to $54.00 in a research note on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $52.85.
About Western Gas Partners
Western Gas Partners, LP acquires, develops, owns, and operates midstream energy assets in the Rocky Mountains, North-central Pennsylvania, and Texas. It is involved in gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil. Western Gas Holdings, LLC serves as the general partner of Western Gas Partners, LP.
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