Barclays PLC reissued their buy rating on shares of Western Gas Equity Partners L.P. (NYSE:WGP) in a research note published on Tuesday morning. They currently have a $52.00 price objective on the stock.

Several other analysts also recently weighed in on the company. RBC Capital Markets restated an outperform rating and set a $48.00 target price (up previously from $44.00) on shares of Western Gas Equity Partners L.P. in a research note on Wednesday, October 12th. Zacks Investment Research upgraded Western Gas Equity Partners L.P. from a hold rating to a buy rating and set a $48.00 target price for the company in a research note on Tuesday, October 11th. Royal Bank Of Canada increased their target price on Western Gas Equity Partners L.P. from $44.00 to $48.00 and gave the company an outperform rating in a research note on Tuesday, October 11th. Deutsche Bank AG restated a hold rating and set a $44.00 target price on shares of Western Gas Equity Partners L.P. in a research note on Thursday, October 6th. Finally, Citigroup Inc. increased their target price on Western Gas Equity Partners L.P. from $36.00 to $37.00 and gave the company a neutral rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. Western Gas Equity Partners L.P. has an average rating of Hold and a consensus target price of $42.00.

Western Gas Equity Partners L.P. (NYSE:WGP) opened at 42.87 on Tuesday. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 43.04 and a beta of 1.63. The company’s 50-day moving average price is $42.58 and its 200-day moving average price is $39.76. Western Gas Equity Partners L.P. has a 52-week low of $19.21 and a 52-week high of $46.38.

The business also recently announced a dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Monday, October 31st will be issued a $0.447 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This is a boost from Western Gas Equity Partners L.P.’s previous dividend of $0.43. Western Gas Equity Partners L.P.’s dividend payout ratio is presently 177.23%.

Several institutional investors have recently modified their holdings of WGP. Acrospire Investment Management LLC boosted its position 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 worth $111,000 after buying an additional 1,000 shares during the last quarter. US Bancorp DE boosted its position 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 worth $121,000 after buying an additional 167 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Western Gas Equity Partners L.P. during the second quarter worth about $161,000. Sterling Capital Management LLC bought a new position in shares of Western Gas Equity Partners L.P. during the second quarter worth about $229,000. Finally, Jane Street Group LLC bought a new position in shares of Western Gas Equity Partners L.P. during the second quarter worth about $245,000. 17.83% of the stock is owned by institutional investors and hedge funds.

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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