Western Gas Partners, LP (NYSE:WES) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Western Gas Partners, LP (NYSE:WES) have received a consensus rating of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $61.20.
Several equities research analysts recently commented on the company. Citigroup Inc. boosted their target price on Western Gas Partners, from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Zacks Investment Research raised Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a report on Tuesday, July 25th. Guggenheim assumed coverage on Western Gas Partners, in a report on Monday, April 17th. They set a “buy” rating and a $68.00 target price on the stock. BidaskClub raised Western Gas Partners, from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $60.00 target price on shares of Western Gas Partners, in a report on Friday, July 14th.
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Shares of Western Gas Partners, (WES) traded up 0.20% during trading on Friday, hitting $49.52. The stock had a trading volume of 269,209 shares. The firm has a market cap of $7.56 billion, a P/E ratio of 35.40 and a beta of 1.19. The firm’s 50-day moving average is $53.90 and its 200-day moving average is $58.08. Western Gas Partners, has a one year low of $46.85 and a one year high of $67.44.
Western Gas Partners, (NYSE:WES) last announced its earnings results on Tuesday, July 25th. The pipeline company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Western Gas Partners, had a return on equity of 9.05% and a net margin of 33.40%. The firm had revenue of $525.45 million for the quarter, compared to the consensus estimate of $488.21 million. During the same period in the previous year, the firm earned $0.55 EPS. Western Gas Partners,’s revenue for the quarter was up 22.6% on a year-over-year basis. Equities research analysts forecast that Western Gas Partners, will post $1.53 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Monday, July 31st were issued a $0.89 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $3.56 annualized dividend and a dividend yield of 7.19%. This is a boost from Western Gas Partners,’s previous quarterly dividend of $0.88. Western Gas Partners,’s dividend payout ratio is currently 256.12%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hirtle Callaghan & Co LLC bought a new position in Western Gas Partners, during the first quarter valued at about $121,000. Chicago Partners Investment Group LLC boosted its position in Western Gas Partners, by 60.2% in the second quarter. Chicago Partners Investment Group LLC now owns 2,396 shares of the pipeline company’s stock valued at $139,000 after buying an additional 900 shares in the last quarter. Pathstone Family Office LLC bought a new position in Western Gas Partners, during the second quarter valued at about $136,000. Oppenheimer Asset Management Inc. bought a new position in Western Gas Partners, during the first quarter valued at about $181,000. Finally, Suntrust Banks Inc. bought a new position in Western Gas Partners, during the first quarter valued at about $201,000. 54.34% of the stock is currently owned by institutional investors.
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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