Western Gas Equity Partners L.P. (NYSE:WGP)‘s stock had its “outperform” rating restated by equities researchers at RBC Capital Markets in a research note issued on Wednesday. They currently have a $48.00 target price on the stock, up from their previous target price of $44.00. RBC Capital Markets’ price target suggests a potential upside of 12.89% from the stock’s previous close.

Other research analysts have also issued reports about the company. Zacks Investment Research raised Western Gas Equity Partners L.P. from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday. Mitsubishi UFJ Financial Group assumed coverage on Western Gas Equity Partners L.P. in a report on Friday, June 17th. They set a “neutral” rating and a $45.00 target price on the stock. Royal Bank Of Canada lifted their target price on Western Gas Equity Partners L.P. from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday. Janney Montgomery Scott started coverage on Western Gas Equity Partners L.P. in a report on Friday, July 29th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Citigroup Inc. increased their price target 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 analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Western Gas Equity Partners L.P. presently has a consensus rating of “Hold” and a consensus price target of $41.60.

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

Western Gas Equity Partners L.P. (NYSE:WGP) traded down 1.06% on Wednesday, hitting $42.07. 51,645 shares of the stock were exchanged. Western Gas Equity Partners L.P. has a 52 week low of $19.21 and a 52 week high of $46.20. The company has a market cap of $9.21 billion, a PE ratio of 42.24 and a beta of 1.66. The company’s 50-day moving average is $38.95 and its 200-day moving average is $38.62.

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

Several large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its stake in shares of Western Gas Equity Partners L.P. by 52.6% in the second quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock valued at $111,000 after buying an additional 1,000 shares in the last quarter. US Bancorp DE raised its stake in shares of Western Gas Equity Partners L.P. by 5.6% in the second quarter. US Bancorp DE now owns 3,167 shares of the company’s stock valued at $121,000 after buying an additional 167 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Western Gas Equity Partners L.P. during the second quarter valued at about $161,000. Sterling Capital Management LLC purchased a new stake in shares of Western Gas Equity Partners L.P. during the second quarter valued at about $229,000. Finally, Jane Street Group LLC purchased a new stake in shares of Western Gas Equity Partners L.P. during the second quarter valued at about $245,000. Institutional investors and hedge funds 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).

5 Day Chart for NYSE:WGP

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