ELCO Management Co. LLC reduced its position in Western Gas Equity Partners, LP (NYSE:WGP) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,500 shares of the pipeline company’s stock after selling 170 shares during the period. Western Gas Equity Partners, comprises about 1.9% of ELCO Management Co. LLC’s holdings, making the stock its 10th largest position. ELCO Management Co. LLC’s holdings in Western Gas Equity Partners, were worth $3,248,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC raised its stake in shares of Western Gas Equity Partners, by 4.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 11,193,080 shares of the pipeline company’s stock worth $481,526,000 after purchasing an additional 458,259 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Western Gas Equity Partners, by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,546,062 shares of the pipeline company’s stock valued at $71,274,000 after buying an additional 253,205 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Western Gas Equity Partners, during the 2nd quarter valued at about $4,738,000. HighTower Advisors LLC acquired a new stake in shares of Western Gas Equity Partners, during the 1st quarter valued at about $3,019,000. Finally, Weiss Multi Strategy Advisers LLC acquired a new stake in shares of Western Gas Equity Partners, during the 1st quarter valued at about $1,964,000. 17.80% of the stock is currently owned by institutional investors.

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WGP has been the topic of a number of research reports. Royal Bank Of Canada restated a “buy” rating and issued a $53.00 price objective on shares of Western Gas Equity Partners, in a report on Monday, August 21st. BidaskClub cut shares of Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a research note on Friday, June 9th. Deutsche Bank AG upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and lifted their target price for the company from $50.00 to $54.00 in a research note on Thursday, July 13th. Zacks Investment Research downgraded shares of Western Gas Equity Partners, from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Finally, Scotiabank set a $51.00 target price on shares of Western Gas Equity Partners, and gave the stock a “buy” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Western Gas Equity Partners, presently has a consensus rating of “Buy” and an average target price of $50.56.

Western Gas Equity Partners, LP (WGP) traded down 0.10% during midday trading on Tuesday, reaching $40.45. The company had a trading volume of 12,703 shares. Western Gas Equity Partners, LP has a 52-week low of $38.71 and a 52-week high of $47.82. The company’s 50-day moving average is $40.10 and its 200 day moving average is $42.66. The company has a market cap of $8.86 billion, a PE ratio of 24.88 and a beta of 1.57.

Western Gas Equity Partners, (NYSE:WGP) last announced its quarterly earnings data on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $525.50 million for the quarter, compared to analysts’ expectations of $505.77 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was up 22.6% compared to the same quarter last year. On average, equities research analysts forecast that Western Gas Equity Partners, LP will post $1.62 EPS for the current year.

About Western Gas Equity Partners,

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.

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Institutional Ownership by Quarter for Western Gas Equity Partners, (NYSE:WGP)

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