Brasada Capital Management LP trimmed its holdings in shares of Western Gas Equity Partners LP (NYSE:WGP) by 69.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,150 shares of the pipeline company’s stock after selling 7,300 shares during the quarter. Brasada Capital Management LP’s holdings in Western Gas Equity Partners were worth $87,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can increased its holdings in Western Gas Equity Partners by 18.9% during the third quarter. Bank of Montreal Can now owns 315,100 shares of the pipeline company’s stock valued at $9,434,000 after buying an additional 50,054 shares during the period. SG Americas Securities LLC acquired a new stake in Western Gas Equity Partners in the third quarter valued at approximately $1,087,000. Bank of New York Mellon Corp acquired a new stake in Western Gas Equity Partners in the second quarter valued at approximately $897,000. JPMorgan Chase & Co. boosted its stake in Western Gas Equity Partners by 69.9% in the third quarter. JPMorgan Chase & Co. now owns 897,590 shares of the pipeline company’s stock valued at $26,874,000 after acquiring an additional 369,412 shares in the last quarter. Finally, Heronetta Management L.P. boosted its stake in Western Gas Equity Partners by 20.2% in the third quarter. Heronetta Management L.P. now owns 34,500 shares of the pipeline company’s stock valued at $1,033,000 after acquiring an additional 5,800 shares in the last quarter. 21.72% of the stock is currently owned by institutional investors.

Shares of WGP opened at $31.25 on Thursday. The company has a market capitalization of $6.63 billion, a price-to-earnings ratio of 18.17 and a beta of 1.54. Western Gas Equity Partners LP has a twelve month low of $25.89 and a twelve month high of $40.22. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.71 and a quick ratio of 0.71.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 21st. Stockholders of record on Friday, February 1st will be paid a dividend of $0.6025 per share. This is an increase from Western Gas Equity Partners’s previous quarterly dividend of $0.60. This represents a $2.41 annualized dividend and a dividend yield of 7.71%. The ex-dividend date of this dividend is Thursday, January 31st. Western Gas Equity Partners’s payout ratio is presently 140.12%.

Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 7th. TheStreet upgraded shares of Western Gas Equity Partners from a “c+” rating to a “b-” rating in a research note on Tuesday, February 5th. Zacks Investment Research downgraded shares of Western Gas Equity Partners from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 19th. Finally, Capital One Financial upgraded shares of Western Gas Equity Partners from an “equal weight” rating to an “overweight” rating and set a $42.00 target price for the company in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.25.

WARNING: This story was originally published by Watch List News and is owned by of Watch List News. If you are accessing this story on another website, it was stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this story can be viewed at https://www.watchlistnews.com/brasada-capital-management-lp-cuts-position-in-western-gas-equity-partners-lp-wgp/2819340.html.

Western Gas Equity Partners Company Profile

Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

Featured Article: What is an SEC Filing?

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

Receive News & Ratings for Western Gas Equity Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Gas Equity Partners and related companies with MarketBeat.com's FREE daily email newsletter.