Tortoise Capital Advisors L.L.C. lessened its holdings in shares of Western Gas Equity Partners LP (NYSE:WGP) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,183,412 shares of the pipeline company’s stock after selling 1,910 shares during the quarter. Tortoise Capital Advisors L.L.C. owned approximately 0.54% of Western Gas Equity Partners worth $48,733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Linscomb & Williams Inc. boosted its position in shares of Western Gas Equity Partners by 0.4% during the 2nd quarter. Linscomb & Williams Inc. now owns 10,325 shares of the pipeline company’s stock valued at $444,000 after acquiring an additional 45 shares during the last quarter. Keybank National Association OH boosted its position in shares of Western Gas Equity Partners by 5.1% during the 2nd quarter. Keybank National Association OH now owns 9,085 shares of the pipeline company’s stock valued at $391,000 after acquiring an additional 440 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Western Gas Equity Partners by 7.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,598 shares of the pipeline company’s stock valued at $284,000 after acquiring an additional 452 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Western Gas Equity Partners by 1.5% during the 2nd quarter. California Public Employees Retirement System now owns 34,300 shares of the pipeline company’s stock valued at $1,476,000 after acquiring an additional 500 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Western Gas Equity Partners by 14.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,923 shares of the pipeline company’s stock valued at $169,000 after acquiring an additional 503 shares during the last quarter. 18.39% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on the stock. TheStreet cut shares of Western Gas Equity Partners from a “b” rating to a “c+” rating in a research report on Monday, October 16th. Zacks Investment Research cut shares of Western Gas Equity Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. Seaport Global Securities assumed coverage on shares of Western Gas Equity Partners in a research report on Tuesday, October 10th. They set a “buy” rating and a $49.00 price target on the stock. Royal Bank of Canada reissued a “buy” rating and set a $53.00 price target on shares of Western Gas Equity Partners in a research report on Monday, August 21st. Finally, BidaskClub raised shares of Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Western Gas Equity Partners currently has a consensus rating of “Buy” and a consensus target price of $49.67.

Shares of Western Gas Equity Partners LP (NYSE:WGP) traded down $0.53 on Thursday, reaching $36.78. 140,900 shares of the company traded hands, compared to its average volume of 158,378. The stock has a market cap of $8,168.40, a price-to-earnings ratio of 22.48 and a beta of 1.50. Western Gas Equity Partners LP has a 12-month low of $33.92 and a 12-month high of $47.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 0.91.

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

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 2nd were issued a $0.5375 dividend. This is a positive change from Western Gas Equity Partners’s previous quarterly dividend of $0.53. This represents a $2.15 annualized dividend and a yield of 5.85%. The ex-dividend date of this dividend was Wednesday, November 1st. Western Gas Equity Partners’s payout ratio is 130.30%.

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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.

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

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