First Trust Advisors LP Trims Holdings in Western Gas Partners, LP (WES)

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First Trust Advisors LP lowered its position in Western Gas Partners, LP (NYSE:WES) by 63.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,329 shares of the pipeline company’s stock after selling 104,934 shares during the quarter. First Trust Advisors LP’s holdings in Western Gas Partners were worth $2,968,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in WES. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Western Gas Partners in the 1st quarter worth about $427,000. Stephens Inc. AR lifted its holdings in shares of Western Gas Partners by 15.0% in the 1st quarter. Stephens Inc. AR now owns 9,105 shares of the pipeline company’s stock worth $389,000 after acquiring an additional 1,187 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its holdings in shares of Western Gas Partners by 2.0% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 9,053,163 shares of the pipeline company’s stock worth $386,282,000 after acquiring an additional 173,749 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Western Gas Partners in the 1st quarter worth about $1,700,000. Finally, BlackRock Inc. lifted its holdings in shares of Western Gas Partners by 6.7% in the 1st quarter. BlackRock Inc. now owns 714,390 shares of the pipeline company’s stock worth $30,483,000 after acquiring an additional 44,608 shares during the last quarter. Institutional investors own 59.78% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Western Gas Partners from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, July 26th. ValuEngine upgraded shares of Western Gas Partners from a “hold” rating to a “buy” rating in a report on Friday, August 10th. TheStreet upgraded shares of Western Gas Partners from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd. Morgan Stanley lowered their target price on shares of Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, August 17th. Finally, Barclays raised their target price on shares of Western Gas Partners from $45.00 to $49.00 and gave the stock a “hold” rating in a report on Tuesday, June 12th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $54.85.

Shares of WES opened at $49.65 on Friday. Western Gas Partners, LP has a 1-year low of $40.44 and a 1-year high of $54.40. The stock has a market cap of $7.45 billion, a P/E ratio of 38.19, a P/E/G ratio of 4.45 and a beta of 1.28. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.51.

Western Gas Partners (NYSE:WES) last announced its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Western Gas Partners had a net margin of 22.80% and a return on equity of 12.18%. The company had revenue of $435.95 million during the quarter. research analysts forecast that Western Gas Partners, LP will post 1.83 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 13th. Investors of record on Wednesday, August 1st were issued a dividend of $0.95 per share. This is a positive change from Western Gas Partners’s previous quarterly dividend of $0.94. The ex-dividend date was Tuesday, July 31st. This represents a $3.80 dividend on an annualized basis and a yield of 7.65%. Western Gas Partners’s dividend payout ratio (DPR) is presently 292.31%.

Western Gas Partners Company Profile

Western Gas Partners, LP acquires, develops, owns, and operates midstream energy assets in the Rocky Mountains, North-central Pennsylvania, and Texas. It is involved in gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil. Western Gas Holdings, LLC serves as the general partner of Western Gas Partners, LP.

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Institutional Ownership by Quarter for Western Gas Partners (NYSE:WES)

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