Western Gas Partners, LP (WES) Given New $63.00 Price Target at Barclays PLC
Western Gas Partners, LP (NYSE:WES) had its price objective upped by Barclays PLC from $60.00 to $63.00 in a research report released on Monday morning. Barclays PLC currently has an overweight rating on the stock.
WES has been the topic of a number of other research reports. Credit Suisse Group AG reaffirmed a hold rating on shares of Western Gas Partners, in a research report on Thursday, July 28th. Deutsche Bank AG reaffirmed a buy rating and set a $56.00 price objective on shares of Western Gas Partners, in a research report on Thursday, October 6th. Mitsubishi UFJ Financial Group initiated coverage on Western Gas Partners, in a research report on Friday, June 17th. They set a neutral rating and a $59.00 price objective on the stock. Zacks Investment Research raised Western Gas Partners, from a hold rating to a strong-buy rating and set a $57.00 target price on the stock in a report on Tuesday, July 26th. Finally, Janney Montgomery Scott initiated coverage on Western Gas Partners, in a report on Friday, July 29th. They issued a buy rating and a $60.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $52.53.
Western Gas Partners, (NYSE:WES) traded down 1.29% during midday trading on Monday, hitting $54.36. The stock had a trading volume of 18,563 shares. Western Gas Partners, has a 12-month low of $25.40 and a 12-month high of $56.11. The company has a market cap of $7.75 billion, a PE ratio of 321.66 and a beta of 0.96. The firm has a 50-day moving average of $51.27 and a 200-day moving average of $49.24.
Western Gas Partners, (NYSE:WES) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The company had revenue of $428.70 million for the quarter, compared to analysts’ expectations of $438.63 million. During the same period in the prior year, the company posted $0.44 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. Equities research analysts forecast that Western Gas Partners, will post $1.89 EPS for the current year.
In other Western Gas Partners, news, Director James R. Crane sold 47,223 shares of Western Gas Partners, stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $50.69, for a total value of $2,393,733.87. Following the completion of the sale, the director now directly owns 363,175 shares of the company’s stock, valued at approximately $18,409,340.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Crane sold 129,914 shares of Western Gas Partners, 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 completion of the sale, the director now directly owns 174,577 shares of the company’s stock, valued at $8,878,986.22. The disclosure for this sale can be found here.
A number of hedge funds have recently added to or reduced their stakes in WES. 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 valued at $212,749,000 after buying an additional 1,218,204 shares during the last quarter. Bank of Montreal Can purchased a new stake in Western Gas Partners, during the second quarter valued at approximately $27,350,000. ING Groep NV purchased a new stake in Western Gas Partners, during the first quarter valued at approximately $16,410,000. Brookfield Asset Management Inc. purchased a new stake in Western Gas Partners, during the first quarter valued at approximately $16,142,000. Finally, Chickasaw Capital Management LLC boosted its stake in 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 valued at $114,908,000 after buying an additional 208,615 shares during the last quarter.
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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