Western Gas Partners, LP (WES) Sees Large Volume Increase
Western Gas Partners, LP (NYSE:WES) saw unusually-high trading volume on Monday . Approximately 216,368 shares traded hands during mid-day trading, a decline of 58% from the previous session’s volume of 515,448 shares.The stock last traded at $51.23 and had previously closed at $51.28.
Several analysts recently commented on WES shares. TheStreet raised shares of Western Gas Partners, from a “c+” rating to a “b-” rating in a research report on Tuesday, July 25th. Scotiabank set a $61.00 target price on shares of Western Gas Partners, and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research lowered Western Gas Partners, from a “strong-buy” rating to a “hold” rating in a report on Saturday, July 29th. Stifel Nicolaus restated a “hold” rating and set a $60.00 price target on shares of Western Gas Partners, in a research note on Friday, July 14th. Finally, BidaskClub raised shares of Western Gas Partners, from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $61.18.
The stock’s 50-day moving average is $50.56 and its 200-day moving average is $55.49. The company has a market cap of $7.82 billion, a PE ratio of 36.63 and a beta of 1.17.
Western Gas Partners, (NYSE:WES) last issued its earnings results on Tuesday, July 25th. The pipeline company reported $0.49 earnings per share for the quarter, missing the 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 analyst estimates of $488.21 million. During the same period last year, the business posted $0.55 EPS. Western Gas Partners,’s revenue was up 22.6% on a year-over-year basis. Analysts forecast that Western Gas Partners, LP will post $1.52 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the business. Pathstone Family Office LLC acquired a new stake in Western Gas Partners, during the second quarter worth approximately $136,000. Chicago Partners Investment Group LLC boosted its holdings in shares of Western Gas Partners, by 60.2% in the 2nd 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 in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Western Gas Partners, in the 1st quarter valued at $181,000. Suntrust Banks Inc. acquired a new position in shares of Western Gas Partners, in the 1st quarter valued at $201,000. Finally, Signature Financial Management Inc. boosted its holdings in shares of Western Gas Partners, by 9.6% in the 2nd quarter. Signature Financial Management Inc. now owns 3,725 shares of the pipeline company’s stock valued at $208,000 after buying an additional 325 shares in the last quarter. Institutional investors own 59.35% of the company’s stock.
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About Western Gas Partners,
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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