Northern Trust Corp Lowers Holdings in Western Gas Partners, LP (WES)
Northern Trust Corp lessened its position in shares of Western Gas Partners, LP (NYSE:WES) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,588 shares of the pipeline company’s stock after selling 2,580 shares during the period. Northern Trust Corp’s holdings in Western Gas Partners were worth $1,879,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC bought a new position in Western Gas Partners during the 2nd quarter worth about $136,000. Chicago Partners Investment Group LLC increased its holdings in Western Gas Partners by 60.2% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,396 shares of the pipeline company’s stock worth $139,000 after purchasing an additional 900 shares in the last quarter. Signature Financial Management Inc. increased its holdings in Western Gas Partners by 9.6% during the 2nd quarter. Signature Financial Management Inc. now owns 3,725 shares of the pipeline company’s stock worth $208,000 after purchasing an additional 325 shares in the last quarter. Good Life Advisors LLC bought a new position in Western Gas Partners during the 2nd quarter worth about $239,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Western Gas Partners by 92.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,746 shares of the pipeline company’s stock worth $321,000 after buying an additional 2,753 shares during the last quarter. Hedge funds and other institutional investors own 61.81% of the company’s stock.
A number of research firms have recently commented on WES. BidaskClub downgraded shares of Western Gas Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Western Gas Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Scotiabank set a $61.00 price objective on shares of Western Gas Partners and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Stifel Nicolaus restated a “hold” rating and set a $54.00 price objective on shares of Western Gas Partners in a research note on Thursday, October 12th. Finally, Morgan Stanley reduced their price objective on shares of Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating for the company in a research note on Friday, November 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $59.55.
Western Gas Partners (NYSE:WES) last issued its earnings results on Tuesday, October 31st. The pipeline company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.16). Western Gas Partners had a net margin of 26.41% and a return on equity of 14.68%. The firm had revenue of $574.70 million during the quarter, compared to analyst estimates of $536.01 million. During the same quarter last year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. equities research analysts anticipate that Western Gas Partners, LP will post 1.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Thursday, November 2nd were paid a $0.905 dividend. This is an increase from Western Gas Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a yield of 7.88%. The ex-dividend date was Wednesday, November 1st. Western Gas Partners’s dividend payout ratio (DPR) is 294.31%.
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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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