Scotiabank set a $51.00 price target on Western Gas Equity Partners, LP (NYSE:WGP) in a research report report published on Tuesday, July 11th. The firm currently has a buy rating on the pipeline company’s stock.

Several other research firms have also weighed in on WGP. Royal Bank Of Canada reissued a buy rating and issued a $53.00 target price on shares of Western Gas Equity Partners, in a research note on Friday, April 7th. Macquarie began coverage on Western Gas Equity Partners, in a report on Friday, April 21st. They issued an outperform rating and a $51.00 price target for the company. Guggenheim began coverage on Western Gas Equity Partners, in a report on Monday, April 17th. They issued a buy rating and a $60.00 price target for the company. Zacks Investment Research downgraded Western Gas Equity Partners, from a hold rating to a strong sell rating in a report on Wednesday, March 15th. Finally, BidaskClub downgraded Western Gas Equity Partners, from a sell rating to a strong sell rating in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Western Gas Equity Partners, presently has a consensus rating of Buy and a consensus target price of $50.89.

Western Gas Equity Partners, (NYSE:WGP) traded down 1.90% during midday trading on Tuesday, reaching $40.69. The company’s stock had a trading volume of 155,854 shares. The firm has a market capitalization of $8.91 billion, a PE ratio of 25.02 and a beta of 1.56. The firm has a 50 day moving average price of $42.15 and a 200 day moving average price of $44.35. Western Gas Equity Partners, has a 1-year low of $35.52 and a 1-year high of $47.82.

Western Gas Equity Partners, (NYSE:WGP) last released its earnings results on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07. Western Gas Equity Partners, had a return on equity of 8.78% and a net margin of 17.50%. The firm had revenue of $525.50 million for the quarter, compared to analyst estimates of $505.77 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. On average, analysts predict that Western Gas Equity Partners, will post $1.63 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, July 31st will be issued a dividend of $0.5275 per share. The ex-dividend date of this dividend is Thursday, July 27th. This is an increase from Western Gas Equity Partners,’s previous quarterly dividend of $0.45. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.19%. Western Gas Equity Partners,’s dividend payout ratio (DPR) is presently 129.45%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Linscomb & Williams Inc. increased its position in Western Gas Equity Partners, by 0.4% in the first quarter. Linscomb & Williams Inc. now owns 10,280 shares of the pipeline company’s stock worth $474,000 after buying an additional 40 shares during the last quarter. Signature Financial Management Inc. increased its position in Western Gas Equity Partners, by 0.7% in the second quarter. Signature Financial Management Inc. now owns 7,600 shares of the pipeline company’s stock worth $327,000 after buying an additional 50 shares during the last quarter. LVW Advisors LLC increased its position in Western Gas Equity Partners, by 0.9% in the first quarter. LVW Advisors LLC now owns 17,300 shares of the pipeline company’s stock worth $798,000 after buying an additional 150 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in Western Gas Equity Partners, by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 48,136 shares of the pipeline company’s stock worth $2,219,000 after buying an additional 170 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Western Gas Equity Partners, by 3.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,360 shares of the pipeline company’s stock worth $478,000 after buying an additional 301 shares during the last quarter. Institutional investors and hedge funds own 18.50% of the company’s stock.

Western Gas Equity Partners, Company Profile

Western Gas Equity Partners, LP is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil.

Analyst Recommendations for Western Gas Equity Partners, (NYSE:WGP)

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