Western Gas Equity Partners, LP (NYSE:WGP) saw strong trading volume on Friday . 65,273 shares traded hands during trading, a decline of 58% from the previous session’s volume of 154,282 shares.The stock last traded at $40.56 and had previously closed at $40.66.

Several research firms recently issued reports on WGP. Zacks Investment Research downgraded Western Gas Equity Partners, from a “buy” rating to a “hold” rating in a research report on Thursday. Scotiabank set a $51.00 price target on Western Gas Equity Partners, and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, BidaskClub raised Western Gas Equity Partners, from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $50.56.

The stock has a 50 day moving average of $40.14 and a 200-day moving average of $42.59. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 24.93 and a beta of 1.57.

Western Gas Equity Partners, (NYSE:WGP) last announced its quarterly earnings data on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The company had revenue of $525.50 million during the quarter, compared to analyst estimates of $505.77 million. Western Gas Equity Partners, had a net margin of 17.50% and a return on equity of 8.78%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Equities analysts anticipate that Western Gas Equity Partners, LP will post $1.62 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Linscomb & Williams Inc. lifted its position in Western Gas Equity Partners, by 0.4% in the 2nd quarter. Linscomb & Williams Inc. now owns 10,325 shares of the pipeline company’s stock valued at $444,000 after purchasing an additional 45 shares during the last quarter. The Manufacturers Life Insurance Company raised 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 worth $284,000 after buying an additional 452 shares in the last quarter. NBW Capital LLC raised its position in shares of Western Gas Equity Partners, by 2.8% during the 2nd quarter. NBW Capital LLC now owns 186,275 shares of the pipeline company’s stock worth $8,014,000 after buying an additional 5,010 shares in the last quarter. Clinton Group Inc. bought a new stake in shares of Western Gas Equity Partners, during the 2nd quarter worth about $201,000. Finally, Doliver Capital Advisors LP bought a new stake in shares of Western Gas Equity Partners, during the 2nd quarter worth about $241,000. Institutional investors own 17.80% of the company’s stock.

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Western Gas Equity Partners, Company Profile

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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