GSA Capital Partners LLP acquired a new position in Western Gas Equity Partners, LP (NYSE:WGP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,253 shares of the pipeline company’s stock, valued at approximately $656,000.

A number of other hedge funds also recently bought and sold shares of WGP. Bank of New York Mellon Corp raised its position in Western Gas Equity Partners, by 11.4% in the 1st quarter. Bank of New York Mellon Corp now owns 71,319 shares of the pipeline company’s stock worth $3,288,000 after purchasing an additional 7,296 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Western Gas Equity Partners, by 78.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock worth $158,000 after purchasing an additional 1,505 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Western Gas Equity Partners, by 3.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,360 shares of the pipeline company’s stock worth $478,000 after purchasing an additional 301 shares during the last quarter. JPMorgan Chase & Co. raised its position in Western Gas Equity Partners, by 36.9% in the 1st quarter. JPMorgan Chase & Co. now owns 76,721 shares of the pipeline company’s stock worth $3,536,000 after purchasing an additional 20,669 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Western Gas Equity Partners, by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 9,293 shares of the pipeline company’s stock worth $428,000 after purchasing an additional 2,683 shares during the last quarter. Hedge funds and other institutional investors own 17.80% of the company’s stock.

Shares of Western Gas Equity Partners, LP (NYSE:WGP) opened at 40.53 on Friday. The firm’s 50 day moving average is $40.16 and its 200 day moving average is $42.55. The company has a market cap of $8.87 billion, a PE ratio of 24.93 and a beta of 1.57. Western Gas Equity Partners, LP has a 12 month low of $38.71 and a 12 month high of $47.82.

Western Gas Equity Partners, (NYSE:WGP) last released its quarterly earnings results on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $525.50 million during the quarter, compared to the consensus estimate of $505.77 million. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. On average, equities analysts predict that Western Gas Equity Partners, LP will post $1.62 earnings per share for the current year.

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Several research analysts recently weighed in on WGP shares. Royal Bank Of Canada restated a “buy” rating and issued a $53.00 price objective on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. Deutsche Bank AG upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $50.00 to $54.00 in a research report on Thursday, July 13th. BidaskClub cut shares of Western Gas Equity Partners, from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Zacks Investment Research cut 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 price objective on shares of Western Gas Equity Partners, and gave the stock a “buy” rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Western Gas Equity Partners, presently has an average rating of “Buy” and a consensus price target of $50.56.

Western Gas Equity Partners, 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.

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

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