Western Gas Partners, LP (WES) Given a $61.00 Price Target at Scotiabank
Scotiabank set a $61.00 price objective on Western Gas Partners, LP (NYSE:WES) in a research note released on Wednesday morning. The brokerage currently has a hold rating on the pipeline company’s stock.
Several other brokerages have also recently issued reports on WES. Zacks Investment Research cut shares of Western Gas Partners, from a hold rating to a strong sell rating in a report on Wednesday, April 26th. Citigroup Inc. increased their target price on shares of Western Gas Partners, from $55.00 to $61.00 and gave the stock a neutral rating in a report on Tuesday, April 25th. Macquarie began coverage on shares of Western Gas Partners, in a report on Friday, April 21st. They set an outperform rating and a $51.00 target price on the stock. TheStreet upgraded shares of Western Gas Partners, from a c+ rating to a b rating in a report on Wednesday, April 26th. Finally, Stifel Nicolaus reiterated a hold rating and set a $60.00 target price on shares of Western Gas Partners, in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $61.18.
Shares of Western Gas Partners, (WES) traded down 0.26% during midday trading on Wednesday, reaching $49.25. 116,873 shares of the company’s stock were exchanged. Western Gas Partners, has a 12-month low of $46.85 and a 12-month high of $67.44. The stock has a market cap of $7.52 billion, a PE ratio of 35.20 and a beta of 1.19. The stock’s 50 day moving average is $53.54 and its 200-day moving average is $57.75.
Western Gas Partners, (NYSE:WES) last issued its earnings results on Tuesday, July 25th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Western Gas Partners, had a return on equity of 15.80% and a net margin of 28.81%. The business had revenue of $525.45 million for the quarter, compared to the consensus estimate of $488.21 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The firm’s revenue was up 22.6% on a year-over-year basis. On average, equities analysts expect that Western Gas Partners, will post $1.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, July 31st were given a $0.89 dividend. This is a positive change from Western Gas Partners,’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 7.21%. The ex-dividend date of this dividend was Thursday, July 27th. Western Gas Partners,’s dividend payout ratio (DPR) is presently 256.12%.
Institutional investors have recently made changes to their positions in the stock. Hirtle Callaghan & Co LLC bought a new position in shares of Western Gas Partners, during the first quarter valued at approximately $121,000. Pathstone Family Office LLC bought a new position in shares of Western Gas Partners, during the second quarter valued at approximately $136,000. Chicago Partners Investment Group LLC raised its position in shares of Western Gas Partners, by 60.2% in the second quarter. Chicago Partners Investment Group LLC now owns 2,396 shares of the pipeline company’s stock valued at $139,000 after buying an additional 900 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Western Gas Partners, during the first quarter valued at approximately $181,000. Finally, Suntrust Banks Inc. bought a new position in shares of Western Gas Partners, during the first quarter valued at approximately $201,000. 55.32% of the stock is owned by hedge funds and other institutional investors.
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 in the United States.
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