Zacks Investment Research downgraded shares of Western Gas Equity Partners, LP (NYSE:WGP) from a buy rating to a hold rating in a research note released on Thursday morning.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

A number of other brokerages have also weighed in on WGP. BidaskClub lowered Western Gas Equity Partners, from a sell rating to a strong sell rating in a research report on Friday, June 9th. Deutsche Bank AG upgraded Western Gas Equity Partners, from a hold rating to a buy rating and raised their price objective for the company from $50.00 to $54.00 in a research report on Thursday, July 13th. Scotiabank set a $51.00 price objective on Western Gas Equity Partners, and gave the company a buy rating in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a buy rating and set a $53.00 price objective on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $50.56.

Shares of Western Gas Equity Partners, (NYSE:WGP) opened at 40.53 on Thursday. Western Gas Equity Partners, has a 52 week low of $38.71 and a 52 week high of $47.82. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 24.93 and a beta of 1.57. The firm’s 50-day moving average price is $40.16 and its 200 day moving average price is $42.55.

Western Gas Equity Partners, (NYSE:WGP) last issued its quarterly earnings data on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. The firm had revenue of $525.50 million during the quarter, compared to analyst estimates of $505.77 million. Western Gas Equity Partners, had a return on equity of 8.78% and a net margin of 17.50%. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, equities research analysts forecast that Western Gas Equity Partners, will post $1.62 EPS for the current year.

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Several large investors have recently made changes to their positions in WGP. Neuberger Berman Group LLC lifted its holdings in shares of Western Gas Equity Partners, by 4.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 11,193,080 shares of the pipeline company’s stock valued at $481,526,000 after acquiring an additional 458,259 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Western Gas Equity Partners, by 19.6% in 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 acquiring an additional 253,205 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Western Gas Equity Partners, in the 2nd quarter valued at about $4,738,000. HighTower Advisors LLC bought a new position in shares of Western Gas Equity Partners, in the 1st quarter valued at about $3,019,000. Finally, Weiss Multi Strategy Advisers LLC bought a new position in shares of Western Gas Equity Partners, in the 1st quarter valued at about $1,964,000. 17.80% of the stock is owned by hedge funds and other institutional investors.

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.

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

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