Western Gas Equity Partners L.P. (NYSE:WGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $48.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 10.93% from the stock’s current price.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

Other analysts have also recently issued reports about the company. Royal Bank Of Canada boosted their price target on Western Gas Equity Partners L.P. from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday. Mitsubishi UFJ Financial Group began 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 price target on the stock. Janney Montgomery Scott began 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 price target on the stock. Barclays PLC raised Western Gas Equity Partners L.P. from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $48.00 to $52.00 in a research report on Monday. Finally, Citigroup Inc. boosted their price target on Western Gas Equity Partners L.P. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.14.

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

Shares of Western Gas Equity Partners L.P. (NYSE:WGP) traded down 2.06% during trading on Tuesday, reaching $42.38. The company’s stock had a trading volume of 193,900 shares. Western Gas Equity Partners L.P. has a one year low of $19.21 and a one year high of $46.58. The firm’s 50-day moving average price is $38.77 and its 200-day moving average price is $38.59. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 42.55 and a beta of 1.65.

Western Gas Equity Partners L.P. (NYSE:WGP) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $436.41 million. During the same period in the previous year, the firm posted $0.31 EPS. The business’s revenue was down 8.0% on a year-over-year basis. On average, equities analysts anticipate that Western Gas Equity Partners L.P. will post $1.43 earnings per share for the current year.

A number of large investors have recently made changes to their positions in WGP. Neuberger Berman Group LLC raised 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 in the last quarter. Citigroup Inc. raised its stake in shares of 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. Credit Suisse AG raised its stake in shares of Western Gas Equity Partners L.P. by 10,499.3% in the second quarter. Credit Suisse AG now owns 639,031 shares of the company’s stock worth $24,443,000 after buying an additional 633,002 shares in the last quarter. Chickasaw Capital Management LLC raised its stake in shares of 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. Finally, Tortoise Capital Advisors L.L.C. raised its stake in shares of 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. Institutional investors and hedge funds own 17.50% of the company’s stock.

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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