RBC Capital Markets reissued their outperform rating on shares of Western Gas Partners, LP (NYSE:WES) in a report released on Wednesday morning. RBC Capital Markets currently has a $64.00 target price on the stock, up from their previous target price of $60.00.

WES has been the subject of several other research reports. Credit Suisse Group AG reiterated a hold rating on shares of Western Gas Partners, in a research report on Thursday, July 28th. Royal Bank Of Canada lifted their price target on Western Gas Partners, from $60.00 to $64.00 and gave the stock an outperform rating in a research report on Tuesday. Deutsche Bank AG reiterated a buy rating and issued a $56.00 price target on shares of Western Gas Partners, in a research report on Thursday, October 6th. Zacks Investment Research upgraded Western Gas Partners, from a hold rating to a strong-buy rating and set a $57.00 price target for the company in a research report on Tuesday, July 26th. Finally, TheStreet upgraded Western Gas Partners, from a hold rating to a buy rating in a research report on Wednesday, July 27th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $53.25.

Shares of Western Gas Partners, (NYSE:WES) opened at 54.90 on Wednesday. Western Gas Partners, has a 52 week low of $25.40 and a 52 week high of $56.11. The firm has a 50-day moving average price of $51.53 and a 200-day moving average price of $49.32. The firm has a market cap of $7.83 billion, a PE ratio of 324.85 and a beta of 0.96.

Western Gas Partners, (NYSE:WES) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The company earned $428.70 million during the quarter, compared to analysts’ expectations of $438.63 million. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. On average, equities research analysts predict that Western Gas Partners, will post $1.89 earnings per share for the current year.

In other Western Gas Partners, news, Director James R. Crane sold 57,064 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $50.00, for a total value of $2,853,200.00. Following the completion of the transaction, the director now owns 293,341 shares in the company, valued at $14,667,050. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Crane sold 129,914 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 174,577 shares of the company’s stock, valued at approximately $8,878,986.22. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently modified their holdings of WES. IFP Advisors Inc increased its position in shares of Western Gas Partners, by 9.0% in the second quarter. IFP Advisors Inc now owns 2,442 shares of the company’s stock worth $123,000 after buying an additional 202 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Western Gas Partners, during the second quarter worth $208,000. Balentine LLC purchased a new position in shares of Western Gas Partners, during the second quarter worth $227,000. Sequoia Financial Advisors LLC purchased a new position in shares of Western Gas Partners, during the second quarter worth $243,000. Finally, Trust Co. of Vermont increased its position in shares of Western Gas Partners, by 7.9% in the second quarter. Trust Co. of Vermont now owns 5,396 shares of the company’s stock worth $272,000 after buying an additional 396 shares during the period.

Western Gas Partners, Company Profile

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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