Western Gas Partners, LP (NYSE:WES) traded up 2.7% on Thursday . The company traded as high as $46.91 and last traded at $48.03. 92,603 shares traded hands during trading, a decline of 88% from the average session volume of 780,265 shares. The stock had previously closed at $46.77.
A number of equities research analysts have recently weighed in on the company. Barclays lifted their price target on Western Gas Partners from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, August 29th. Stifel Nicolaus boosted their target price on Western Gas Partners from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research raised Western Gas Partners from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, July 26th. ValuEngine raised Western Gas Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Credit Suisse Group began coverage on Western Gas Partners in a report on Thursday, October 11th. They set a “neutral” rating and a $45.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. Western Gas Partners has an average rating of “Hold” and an average target price of $53.21.
The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $7.14 billion, a PE ratio of 35.61 and a beta of 1.28.
Western Gas Partners (NYSE:WES) last posted its quarterly earnings data on Tuesday, October 30th. The pipeline company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.28). Western Gas Partners had a return on equity of 12.78% and a net margin of 24.11%. The firm had revenue of $507.76 million for the quarter, compared to analysts’ expectations of $472.96 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, research analysts forecast that Western Gas Partners, LP will post 1.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.965 per share. This represents a $3.86 annualized dividend and a yield of 8.34%. This is a boost from Western Gas Partners’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Tuesday, October 30th. Western Gas Partners’s payout ratio is presently 296.92%.
A number of hedge funds and other institutional investors have recently bought and sold shares of WES. Tortoise Capital Advisors L.L.C. grew its position in Western Gas Partners by 8.9% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 16,295,738 shares of the pipeline company’s stock worth $711,798,000 after purchasing an additional 1,333,515 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Western Gas Partners by 40.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,509,650 shares of the pipeline company’s stock valued at $153,302,000 after buying an additional 1,017,349 shares during the period. RR Advisors LLC boosted its stake in shares of Western Gas Partners by 73.8% during the 3rd quarter. RR Advisors LLC now owns 2,018,000 shares of the pipeline company’s stock valued at $88,230,000 after buying an additional 857,000 shares during the period. Alps Advisors Inc. boosted its stake in shares of Western Gas Partners by 6.2% during the 3rd quarter. Alps Advisors Inc. now owns 8,839,258 shares of the pipeline company’s stock valued at $386,099,000 after buying an additional 517,576 shares during the period. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Western Gas Partners during the 2nd quarter valued at $14,959,000. Hedge funds and other institutional investors own 59.65% of the company’s stock.
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About Western Gas Partners (NYSE:WES)
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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