Zacks Investment Research lowered shares of Western Gas Equity Partners, LP (NYSE:WGP) from a buy rating to a hold rating in a research report report published on Saturday morning.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

WGP has been the topic of several other reports. Royal Bank Of Canada reaffirmed a buy rating and issued a $53.00 price target on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. BidaskClub downgraded Western Gas Equity Partners, from a sell rating to a strong sell rating in a research report on Thursday, July 27th. Morgan Stanley dropped their price target on 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. Scotiabank reaffirmed 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. Finally, TheStreet downgraded Western Gas Equity Partners, from a b rating to a c+ rating in a research report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Western Gas Equity Partners, presently has an average rating of Buy and an average price target of $49.67.

Shares of Western Gas Equity Partners, (NYSE:WGP) opened at $36.27 on Friday. Western Gas Equity Partners, has a 1-year low of $36.11 and a 1-year high of $47.82. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $8,142.12, a P/E ratio of 22.40 and a beta of 1.55.

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, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. Western Gas Equity Partners, had a return on equity of 8.99% and a net margin of 16.96%. The firm had revenue of $574.70 million during the quarter, compared to analyst estimates of $530.80 million. During the same period in the previous year, the company earned $0.54 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. analysts predict that Western Gas Equity Partners, will post 1.67 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Thursday, November 2nd will be given a dividend of $0.5375 per share. The ex-dividend date of this dividend is Wednesday, November 1st. This is a boost from Western Gas Equity Partners,’s previous quarterly dividend of $0.53. This represents a $2.15 dividend on an annualized basis and a dividend yield of 5.93%. Western Gas Equity Partners,’s payout ratio is currently 130.30%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Saratoga Research & Investment Management bought a new stake in Western Gas Equity Partners, in the third quarter valued at $146,000. BNP Paribas Arbitrage SA grew its position in Western Gas Equity Partners, by 14.7% in the second 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 period. Clinton Group Inc. bought a new stake in Western Gas Equity Partners, in the second quarter valued at $201,000. Proficio Capital Partners LLC grew its position in Western Gas Equity Partners, by 10.8% in the second quarter. Proficio Capital Partners LLC now owns 5,342 shares of the pipeline company’s stock valued at $226,000 after acquiring an additional 519 shares during the period. Finally, Doliver Capital Advisors LP bought a new stake in Western Gas Equity Partners, in the second quarter valued at $241,000. Institutional investors and hedge funds own 17.77% of the company’s stock.

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

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