Frontier Investment Mgmt Co. Takes $231,000 Position in Western Gas Partners, LP (WES)
Frontier Investment Mgmt Co. purchased a new stake in shares of Western Gas Partners, LP (NYSE:WES) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,800 shares of the pipeline company’s stock, valued at approximately $231,000.
Other institutional investors have also recently made changes to their positions in the company. Cincinnati Insurance Co. boosted its stake in Western Gas Partners by 28.9% during the third quarter. Cincinnati Insurance Co. now owns 56,828 shares of the pipeline company’s stock valued at $2,914,000 after buying an additional 12,726 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Western Gas Partners by 58.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 182,800 shares of the pipeline company’s stock valued at $9,374,000 after purchasing an additional 67,200 shares during the last quarter. Magnetar Financial LLC lifted its stake in shares of Western Gas Partners by 49.0% in the 3rd quarter. Magnetar Financial LLC now owns 1,691,700 shares of the pipeline company’s stock valued at $86,750,000 after purchasing an additional 556,180 shares during the last quarter. Cohen & Steers Inc. bought a new stake in shares of Western Gas Partners in the 3rd quarter valued at approximately $2,051,000. Finally, Evergreen Capital Management LLC lifted its stake in shares of Western Gas Partners by 116.6% in the 3rd quarter. Evergreen Capital Management LLC now owns 228,774 shares of the pipeline company’s stock valued at $11,732,000 after purchasing an additional 123,175 shares during the last quarter. 61.47% of the stock is owned by institutional investors.
Shares of Western Gas Partners, LP (NYSE WES) opened at $48.82 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. Western Gas Partners, LP has a fifty-two week low of $42.68 and a fifty-two week high of $67.44. The firm has a market capitalization of $7,450.03, a P/E ratio of 38.44, a PEG ratio of 3.60 and a beta of 1.09.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Thursday, February 1st were issued a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 7.54%. This is an increase from Western Gas Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, January 31st. Western Gas Partners’s dividend payout ratio is presently 289.77%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Western Gas Partners from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Scotiabank reaffirmed a “hold” rating and issued a $58.00 price objective on shares of Western Gas Partners in a research note on Monday, January 29th. Barclays lowered Western Gas Partners from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $62.00 to $54.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $61.00 price objective on shares of Western Gas Partners in a research note on Tuesday, January 16th. Finally, Bank of America assumed coverage on Western Gas Partners in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $57.08.
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Western Gas Partners Company Profile
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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