Bank of America initiated coverage on shares of Western Gas Partners (NYSE:WES) in a report published on Tuesday, The Fly reports. The firm issued a neutral rating on the pipeline company’s stock.

A number of other analysts also recently commented on WES. Zacks Investment Research downgraded shares of Western Gas Partners from a hold rating to a sell rating in a research report on Thursday, October 5th. Seaport Global Securities started coverage on shares of Western Gas Partners in a research report on Tuesday, October 10th. They set a buy rating and a $64.00 price target on the stock. Stifel Nicolaus restated a hold rating and set a $54.00 price target on shares of Western Gas Partners in a research report on Thursday, October 12th. Scotiabank restated a hold rating and set a $61.00 price target on shares of Western Gas Partners in a research report on Wednesday, October 25th. Finally, Morgan Stanley dropped their target price on shares of Western Gas Partners from $57.00 to $52.00 and set an equal weight rating on the stock in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. Western Gas Partners presently has an average rating of Hold and a consensus price target of $58.67.

Western Gas Partners (NYSE WES) traded up $1.62 during mid-day trading on Tuesday, hitting $53.85. 564,500 shares of the company’s stock were exchanged, compared to its average volume of 559,325. Western Gas Partners has a one year low of $42.68 and a one year high of $67.44. The company has a market cap of $8,220.00, a P/E ratio of 40.49, a price-to-earnings-growth ratio of 3.81 and a beta of 1.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.91 and a quick ratio of 0.91.

Western Gas Partners (NYSE:WES) last released its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.16). Western Gas Partners had a return on equity of 14.68% and a net margin of 26.41%. The company had revenue of $574.70 million for the quarter, compared to the consensus estimate of $536.01 million. During the same quarter last year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. sell-side analysts anticipate that Western Gas Partners will post 1.44 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WES. Center Coast Capital Advisors LP raised its holdings in shares of Western Gas Partners by 67.0% in the 3rd quarter. Center Coast Capital Advisors LP now owns 4,061,697 shares of the pipeline company’s stock worth $208,284,000 after purchasing an additional 1,629,760 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Western Gas Partners by 11.1% in the 3rd quarter. Alps Advisors Inc. now owns 8,134,462 shares of the pipeline company’s stock worth $417,135,000 after purchasing an additional 815,295 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Western Gas Partners by 6.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 12,847,861 shares of the pipeline company’s stock worth $658,838,000 after purchasing an additional 803,574 shares in the last quarter. Harvest Fund Advisors LLC bought a new stake in shares of Western Gas Partners in the 3rd quarter worth approximately $35,643,000. Finally, Atlantic Trust Group LLC raised its holdings in shares of Western Gas Partners by 113.9% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,185,261 shares of the pipeline company’s stock worth $60,780,000 after purchasing an additional 631,062 shares in the last quarter. Institutional investors and hedge funds own 61.76% of the company’s stock.

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About Western Gas Partners

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.

The Fly

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