Morgan Stanley Lowers Western Gas Partners, LP (WES) Price Target to $51.00

Western Gas Partners, LP (NYSE:WES) had its price target reduced by Morgan Stanley from $52.00 to $51.00 in a research report issued on Friday. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s price objective points to a potential upside of 13.76% from the stock’s previous close.

A number of other brokerages have also recently commented on WES. Zacks Investment Research upgraded shares of Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $61.00 target price on the stock in a research report on Tuesday, July 25th. BidaskClub upgraded shares of Western Gas Partners, from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. TheStreet upgraded shares of Western Gas Partners, from a “c+” rating to a “b-” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 target price on shares of Western Gas Partners, in a research report on Thursday, October 12th. Finally, Seaport Global Securities began coverage on shares of Western Gas Partners, in a research report on Tuesday, October 10th. They issued a “buy” rating and a $64.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $59.55.

Western Gas Partners, (NYSE:WES) opened at $44.83 on Friday. The company has a market cap of $6,780.00, a price-to-earnings ratio of 35.83, a P/E/G ratio of 5.38 and a beta of 1.18. Western Gas Partners, has a 52-week low of $43.62 and a 52-week high of $67.44. 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 issued its 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). The business had revenue of $574.70 million during the quarter, compared to analysts’ expectations of $536.01 million. Western Gas Partners, had a return on equity of 14.68% and a net margin of 26.41%. Western Gas Partners,’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. analysts forecast that Western Gas Partners, will post 1.37 earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the business. Ffcm LLC purchased a new position in shares of Western Gas Partners, in the third quarter valued at about $113,000. Chicago Partners Investment Group LLC increased its position in shares of 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 acquiring an additional 900 shares during the period. Pathstone Family Office LLC purchased a new position in shares of Western Gas Partners, in the second quarter valued at about $136,000. Penserra Capital Management LLC purchased a new position in shares of Western Gas Partners, in the third quarter valued at about $142,000. Finally, Biondo Investment Advisors LLC purchased a new position in shares of Western Gas Partners, in the second quarter valued at about $232,000. Hedge funds and other institutional investors own 61.65% of the company’s stock.

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.

Analyst Recommendations for Western Gas Partners, (NYSE:WES)

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