Western Gas Equity Partners, LP (NYSE:WGP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

Other research analysts have also recently issued research reports about the stock. Scotiabank set a $51.00 target price on shares of Western Gas Equity Partners, and gave the stock a “buy” rating in a report on Wednesday, August 16th. BidaskClub upgraded shares of Western Gas Equity Partners, from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Deutsche Bank AG upgraded shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and raised their target price for the stock from $50.00 to $54.00 in a report on Thursday, July 13th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $53.00 target price on shares of Western Gas Equity Partners, in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Western Gas Equity Partners, has a consensus rating of “Buy” and an average price target of $50.56.

Western Gas Equity Partners, (NYSE WGP) opened at 40.35 on Thursday. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 24.82 and a beta of 1.57. The stock’s 50 day moving average is $40.12 and its 200-day moving average is $42.61. Western Gas Equity Partners, has a 12 month low of $38.71 and a 12 month high of $47.82.

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

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Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its stake in Western Gas Equity Partners, by 78.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,420 shares of the pipeline company’s stock worth $158,000 after acquiring an additional 1,505 shares during the period. Chickasaw Capital Management LLC lifted its stake in Western Gas Equity Partners, by 0.5% in the second quarter. Chickasaw Capital Management LLC now owns 5,109,279 shares of the pipeline company’s stock worth $219,801,000 after acquiring an additional 24,540 shares during the period. Level Four Advisory Services LLC lifted its stake in Western Gas Equity Partners, by 9.8% in the first quarter. Level Four Advisory Services LLC now owns 6,986 shares of the pipeline company’s stock worth $325,000 after acquiring an additional 622 shares during the period. Goldman Sachs Group Inc. lifted its stake in Western Gas Equity Partners, by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,546,062 shares of the pipeline company’s stock worth $71,274,000 after acquiring an additional 253,205 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. purchased a new stake in Western Gas Equity Partners, in the first quarter worth $1,406,000. 17.80% of the stock is owned by institutional investors.

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.

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

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