Western Gas Partners, LP (NYSE:WES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $65.00 price target on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 12.11% from the stock’s previous close.

According to Zacks, “WESTERN GAS PARTNERS is a growth-oriented Delaware limited partnership formed by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets. “

Several other equities analysts have also commented on WES. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Western Gas Partners, in a research note on Thursday, July 28th. TheStreet upgraded Western Gas Partners, from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Janney Montgomery Scott began coverage on Western Gas Partners, in a report on Friday, July 29th. They issued a “buy” rating and a $60.00 price objective on the stock. Deutsche Bank AG reiterated a “buy” rating and issued a $56.00 price objective on shares of Western Gas Partners, in a report on Thursday, October 6th. Finally, Barclays PLC boosted their price objective on Western Gas Partners, from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, October 10th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.75.

Analyst Recommendations for Western Gas Partners, (NYSE:WES)

Shares of Western Gas Partners, (NYSE:WES) opened at 57.98 on Wednesday. The company has a market cap of $8.27 billion, a P/E ratio of 343.08 and a beta of 0.96. Western Gas Partners, has a 12 month low of $25.40 and a 12 month high of $58.13. The company’s 50-day moving average price is $52.25 and its 200-day moving average price is $49.81.

Western Gas Partners, (NYSE:WES) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The business earned $428.70 million during the quarter, compared to analyst estimates of $438.63 million. During the same period last year, the company earned $0.44 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts forecast that Western Gas Partners, will post $1.89 EPS for the current fiscal year.

In other news, Director James R. Crane sold 55,406 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $50.23, for a total transaction of $2,783,043.38. Following the sale, the director now directly owns 361,669 shares of the company’s stock, valued at $18,166,633.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Crane sold 47,223 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $50.69, for a total transaction of $2,393,733.87. Following the sale, the director now directly owns 363,175 shares in the company, valued at $18,409,340.75. The disclosure for this sale can be found here.

Hedge funds have recently added to or reduced their stakes in the stock. 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 period. Spirit of America Management Corp NY boosted its position in shares of Western Gas Partners, by 21.7% in the third quarter. Spirit of America Management Corp NY now owns 330,069 shares of the company’s stock worth $18,170,000 after buying an additional 58,750 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Western Gas Partners, during the first quarter worth about $583,000. Chilton Capital Management LLC boosted its position in shares of Western Gas Partners, by 0.9% in the first quarter. Chilton Capital Management LLC now owns 48,107 shares of the company’s stock worth $2,088,000 after buying an additional 410 shares during the last quarter. Finally, BB&T Securities LLC acquired a new position in shares of Western Gas Partners, during the second quarter worth about $394,000.

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.

5 Day Chart for NYSE:WES

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