Western Gas Equity Partners L.P. (NYSE:WGP) was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a report issued on Monday.

A number of other equities research analysts have also commented on the company. Mitsubishi UFJ Financial Group assumed coverage on Western Gas Equity Partners L.P. in a research report on Friday, June 17th. They issued a “neutral” rating and a $45.00 target price on the stock. Deutsche Bank AG reiterated a “hold” rating and issued a $44.00 target price on shares of Western Gas Equity Partners L.P. in a research report on Thursday. Zacks Investment Research lowered Western Gas Equity Partners L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Janney Montgomery Scott assumed coverage on Western Gas Equity Partners L.P. in a research report on Friday, July 29th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Citigroup Inc. upped their target price on Western Gas Equity Partners L.P. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Western Gas Equity Partners L.P. has an average rating of “Hold” and an average price target of $38.85.

Analyst Recommendations for Western Gas Equity Partners L.P. (NYSE:WGP)

Western Gas Equity Partners L.P. (NYSE:WGP) traded up 2.59% during midday trading on Monday, hitting $43.21. 65,685 shares of the stock traded hands. The company’s 50 day moving average price is $38.57 and its 200 day moving average price is $38.42. Western Gas Equity Partners L.P. has a 12 month low of $19.21 and a 12 month high of $46.58. The firm has a market cap of $9.46 billion, a PE ratio of 43.38 and a beta of 1.65.

Western Gas Equity Partners L.P. (NYSE:WGP) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.08. Western Gas Equity Partners L.P. had a return on equity of 6.03% and a net margin of 14.55%. The business had revenue of $428.66 million for the quarter, compared to analyst estimates of $436.41 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. Equities research analysts predict that Western Gas Equity Partners L.P. will post $1.43 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of WGP. Neuberger Berman Group LLC increased its stake in shares of Western Gas Equity Partners L.P. by 19.2% in the second quarter. Neuberger Berman Group LLC now owns 6,196,067 shares of the company’s stock worth $237,000,000 after buying an additional 999,529 shares during the period. Chickasaw Capital Management LLC boosted its position in Western Gas Equity Partners L.P. by 8.8% in the second quarter. Chickasaw Capital Management LLC now owns 4,438,151 shares of the company’s stock worth $169,759,000 after buying an additional 360,545 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in Western Gas Equity Partners L.P. by 14.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 2,844,706 shares of the company’s stock worth $108,810,000 after buying an additional 349,553 shares in the last quarter. Citigroup Inc. boosted its position in Western Gas Equity Partners L.P. by 145.5% in the second quarter. Citigroup Inc. now owns 1,434,250 shares of the company’s stock worth $54,860,000 after buying an additional 849,977 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its position in Western Gas Equity Partners L.P. by 7.6% in the second quarter. Kayne Anderson Capital Advisors LP now owns 1,087,637 shares of the company’s stock worth $41,593,000 after buying an additional 76,761 shares in the last quarter. 17.50% of the stock is owned by institutional investors and hedge funds.

About Western Gas Equity Partners L.P.

Western Gas Equity Partners, LP (WGP) is a limited partnership formed in to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES owns, operates, acquires and develops midstream energy assets. Through its subsidiary WES, 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).

5 Day Chart for NYSE:WGP

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