Western Gas Partners, LP (NYSE:WES) Receives $51.42 Consensus PT from Analysts
Shares of Western Gas Partners, LP (NYSE:WES) have earned a consensus recommendation of “Hold” from the seventeen analysts that are covering the company. Ten investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $49.55.
WES has been the subject of several recent research reports. Credit Suisse Group AG reissued a “hold” rating on shares of Western Gas Partners, in a research note on Thursday, July 28th. Zacks Investment Research raised Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research note on Tuesday, July 26th. TheStreet raised Western Gas Partners, from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Janney Montgomery Scott assumed coverage on Western Gas Partners, in a research note on Friday, July 29th. They issued a “buy” rating and a $60.00 price target for the company. Finally, Mitsubishi UFJ Financial Group assumed coverage on Western Gas Partners, in a report on Friday, June 17th. They issued a “neutral” rating and a $59.00 target price for the company.
In other news, Director James R. Crane sold 129,914 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $50.86, for a total transaction of $6,607,426.04. Following the sale, the director now directly owns 174,577 shares in the company, valued at $8,878,986.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James R. Crane sold 60,456 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $50.39, for a total value of $3,046,377.84. Following the sale, the director now owns 409,502 shares in the company, valued at $20,634,805.78. The disclosure for this sale can be found here.
Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Western Gas Partners, by 33.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,900,934 shares of the company’s stock worth $212,749,000 after buying an additional 1,218,204 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Western Gas Partners, during the second quarter worth $27,350,000. ING Groep NV bought a new stake in shares of Western Gas Partners, during the first quarter worth $16,410,000. Brookfield Asset Management Inc. bought a new stake in shares of Western Gas Partners, during the first quarter worth $16,142,000. Finally, Chickasaw Capital Management LLC boosted its stake in shares of Western Gas Partners, by 10.1% in the second quarter. Chickasaw Capital Management LLC now owns 2,279,920 shares of the company’s stock worth $114,908,000 after buying an additional 208,615 shares during the period.
Western Gas Partners, (NYSE:WES) opened at 54.57 on Tuesday. Western Gas Partners, has a 12-month low of $25.40 and a 12-month high of $54.75. The firm has a 50-day moving average of $50.31 and a 200-day moving average of $48.46. The firm has a market cap of $7.78 billion, a P/E ratio of 322.90 and a beta of 0.96.
Western Gas Partners, (NYSE:WES) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The firm earned $428.70 million during the quarter, compared to the consensus estimate of $438.63 million. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. On average, analysts expect that Western Gas Partners, will post $1.89 EPS for the current year.
About Western Gas Partners,
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 for Anadarko Petroleum Corporation (Anadarko), as well as third-party producers and customers.
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