Western Gas Equity Partners (NYSE:WGP) had its price objective dropped by equities research analysts at Morgan Stanley from $41.00 to $40.00 in a research report issued on Friday. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 11.20% from the stock’s previous close.

A number of other equities analysts also recently weighed in on WGP. Deutsche Bank initiated coverage on Western Gas Equity Partners in a report on Thursday, April 19th. They issued a “buy” rating and a $38.00 target price on the stock. ValuEngine downgraded Western Gas Equity Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded Western Gas Equity Partners from a “hold” rating to a “sell” rating in a report on Friday, May 4th. Bank of America upped their target price on Western Gas Equity Partners from $35.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, June 5th. Finally, Barclays upped their target price on Western Gas Equity Partners from $35.00 to $37.00 and gave the company a “hold” rating in a report on Tuesday, June 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.36.

NYSE WGP opened at $35.97 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market cap of $7.94 billion, a price-to-earnings ratio of 20.91 and a beta of 1.70. Western Gas Equity Partners has a 1 year low of $31.63 and a 1 year high of $42.92.

Western Gas Equity Partners (NYSE:WGP) last posted its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.12). The company had revenue of $435.95 million for the quarter. Western Gas Equity Partners had a return on equity of 9.42% and a net margin of 17.52%. sell-side analysts expect that Western Gas Equity Partners will post 1.89 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. MAI Capital Management grew its stake in shares of Western Gas Equity Partners by 3.1% in the 2nd quarter. MAI Capital Management now owns 93,669 shares of the pipeline company’s stock valued at $3,349,000 after buying an additional 2,806 shares in the last quarter. Tiedemann Advisors LLC bought a new stake in shares of Western Gas Equity Partners in the 2nd quarter valued at approximately $1,970,000. California Public Employees Retirement System grew its stake in shares of Western Gas Equity Partners by 94.5% in the 2nd quarter. California Public Employees Retirement System now owns 39,534 shares of the pipeline company’s stock valued at $1,413,000 after buying an additional 19,204 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in shares of Western Gas Equity Partners in the 2nd quarter valued at approximately $1,451,000. Finally, Franklin Square Holdings L.P. bought a new stake in shares of Western Gas Equity Partners in the 2nd quarter valued at approximately $425,000. Institutional investors own 19.22% of the company’s stock.

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.

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

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