Analysts expect that Western Gas Partners, LP (NYSE:WES) will announce earnings per share (EPS) of $0.48 for the current quarter, Zacks reports. Zero analysts have provided estimates for Western Gas Partners’ earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.41. Western Gas Partners reported earnings per share of $0.49 in the same quarter last year, which would indicate a negative year over year growth rate of 2%. The company is expected to announce its next quarterly earnings report on Tuesday, July 24th.
On average, analysts expect that Western Gas Partners will report full-year earnings of $2.24 per share for the current financial year, with EPS estimates ranging from $2.04 to $2.57. For the next fiscal year, analysts forecast that the firm will report earnings of $2.98 per share, with EPS estimates ranging from $2.49 to $3.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover Western Gas Partners.
Western Gas Partners (NYSE:WES) last announced its earnings results on Tuesday, May 1st. The pipeline company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.10). The firm had revenue of $437.17 million for the quarter, compared to the consensus estimate of $622.09 million. Western Gas Partners had a return on equity of 15.44% and a net margin of 28.35%. Western Gas Partners’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS.
A number of equities analysts have recently weighed in on the company. Citigroup upgraded Western Gas Partners from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $55.00 to $46.00 in a research note on Tuesday, March 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $59.00 price objective (up previously from $57.00) on shares of Western Gas Partners in a research note on Wednesday, March 14th. Barclays restated a “hold” rating and set a $53.00 price objective (down previously from $54.00) on shares of Western Gas Partners in a research note on Wednesday, March 7th. Stifel Nicolaus raised their price objective on Western Gas Partners from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, May 3rd. Finally, Bank of America raised their price objective on Western Gas Partners from $47.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 5th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $53.62.
Several hedge funds have recently modified their holdings of WES. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Western Gas Partners by 22.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 61,465 shares of the pipeline company’s stock valued at $2,956,000 after purchasing an additional 11,184 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Western Gas Partners by 7.4% in the 4th quarter. Bank of New York Mellon Corp now owns 28,692 shares of the pipeline company’s stock valued at $1,380,000 after purchasing an additional 1,981 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Western Gas Partners by 58.1% in the 4th quarter. BlackRock Inc. now owns 669,782 shares of the pipeline company’s stock valued at $32,210,000 after purchasing an additional 246,128 shares in the last quarter. Brown Advisory Inc. acquired a new stake in shares of Western Gas Partners during the 4th quarter valued at $363,000. Finally, Cbre Clarion Securities LLC boosted its holdings 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 valued at $4,363,000 after acquiring an additional 11,125 shares in the last quarter. 59.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE WES traded up $0.39 during trading hours on Friday, reaching $48.39. 560,416 shares of the stock were exchanged, compared to its average volume of 486,934. The firm has a market cap of $7.32 billion, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 3.57 and a beta of 1.14. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.08. Western Gas Partners has a 52 week low of $40.44 and a 52 week high of $57.15.
Western Gas Partners Company Profile
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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