Western Gas Equity Partners L.P. (NYSE:WGP) had its price target upped by Royal Bank Of Canada from $44.00 to $48.00 in a research note released on Tuesday morning. The brokerage currently has an outperform rating on the stock.

A number of other analysts also recently commented on the company. Barclays PLC upgraded Western Gas Equity Partners L.P. from an equal weight rating to an overweight rating and raised their price objective for the stock from $48.00 to $52.00 in a research report on Monday. Mitsubishi UFJ Financial Group started 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 objective for the company. Deutsche Bank AG reiterated a hold rating and issued a $44.00 price objective on shares of Western Gas Equity Partners L.P. in a research report on Thursday, October 6th. Zacks Investment Research downgraded Western Gas Equity Partners L.P. from a buy rating to a hold rating in a research report on Thursday, August 4th. Finally, Janney Montgomery Scott started 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 objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $41.14.

Western Gas Equity Partners L.P. (NYSE:WGP) opened at 42.52 on Tuesday. The stock has a 50 day moving average price of $38.95 and a 200 day moving average price of $38.62. Western Gas Equity Partners L.P. has a 1-year low of $19.21 and a 1-year high of $46.20. The company has a market cap of $9.31 billion, a PE ratio of 42.69 and a beta of 1.66.

Western Gas Equity Partners L.P. (NYSE:WGP) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.41 EPS 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 company earned $428.66 million during the quarter, compared to the consensus estimate of $436.41 million. During the same quarter last year, the company earned $0.31 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts forecast that Western Gas Equity Partners L.P. will post $1.43 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC raised its position in 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 valued at $237,000,000 after buying an additional 999,529 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 during the period. 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 during the period. 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 during the period. Finally, Kayne Anderson Capital Advisors LP raised its stake in shares of 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 during the period. Hedge funds and other institutional investors own 17.50% of the company’s stock.

Western Gas Equity Partners L.P. Company Profile

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).

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