Equities research analysts at Credit Suisse Group initiated coverage on shares of Western Gas Equity Partners (NYSE:WGP) in a report released on Thursday. The firm set an “outperform” rating and a $49.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target points to a potential upside of 20.19% from the stock’s current price.

Other equities analysts have also issued reports about the stock. UBS Group upgraded shares of Western Gas Equity Partners from a “neutral” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday. Zacks Investment Research upgraded shares of Western Gas Equity Partners from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Thursday, November 9th. Scotiabank restated a “buy” rating and issued a $51.00 price target on shares of Western Gas Equity Partners in a research report on Wednesday, October 25th. TheStreet lowered shares of Western Gas Equity Partners from a “b” rating to a “c+” rating in a research report on Monday, October 16th. Finally, Morgan Stanley reduced their price target on shares of Western Gas Equity Partners from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.09.

Shares of Western Gas Equity Partners (NYSE WGP) opened at $40.77 on Thursday. The firm has a market cap of $8,900.00, a PE ratio of 24.71 and a beta of 1.51. Western Gas Equity Partners has a 52 week low of $33.92 and a 52 week high of $47.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.91 and a quick ratio of 0.91.

Western Gas Equity Partners (NYSE:WGP) last posted its earnings results on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. The business had revenue of $574.70 million for the quarter, compared to analysts’ expectations of $530.80 million. Western Gas Equity Partners had a net margin of 16.96% and a return on equity of 8.99%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. equities analysts expect that Western Gas Equity Partners will post 1.7 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Saratoga Research & Investment Management acquired a new position in shares of Western Gas Equity Partners during the third quarter worth approximately $146,000. BNP Paribas Arbitrage SA lifted its position in shares of Western Gas Equity Partners by 14.7% during the second quarter. BNP Paribas Arbitrage SA now owns 3,923 shares of the pipeline company’s stock worth $169,000 after purchasing an additional 503 shares in the last quarter. Clinton Group Inc. acquired a new position in shares of Western Gas Equity Partners during the second quarter worth approximately $201,000. Doliver Capital Advisors LP acquired a new position in shares of Western Gas Equity Partners during the second quarter worth approximately $241,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Western Gas Equity Partners by 7.4% during the second quarter. The Manufacturers Life Insurance Company now owns 6,598 shares of the pipeline company’s stock worth $284,000 after purchasing an additional 452 shares in the last quarter. Institutional investors own 18.38% of the company’s stock.

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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.

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

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