Shares of Western Gas Partners, LP (NYSE:WES) have been given a consensus rating of “Hold” by the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $52.92.
A number of equities analysts have issued reports on the company. Bank of America upgraded Western Gas Partners from a “neutral” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday. Barclays raised their target price on Western Gas Partners from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 29th. Stifel Nicolaus raised 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 upgraded 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. Finally, ValuEngine upgraded Western Gas Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd.
Large investors have recently added to or reduced their stakes in the company. Whittier Trust Co. bought a new position in shares of Western Gas Partners during the 3rd quarter valued at about $183,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Western Gas Partners during the 2nd quarter valued at about $187,000. LVW Advisors LLC bought a new position in shares of Western Gas Partners during the 2nd quarter valued at about $202,000. Gryphon Financial Partners LLC lifted its holdings in shares of Western Gas Partners by 113.4% during the 3rd quarter. Gryphon Financial Partners LLC now owns 5,091 shares of the pipeline company’s stock valued at $222,000 after purchasing an additional 2,705 shares in the last quarter. Finally, Parkside Financial Bank & Trust bought a new position in shares of Western Gas Partners during the 3rd quarter valued at about $252,000. Institutional investors and hedge funds own 59.65% of the company’s stock.
Western Gas Partners (NYSE:WES) last issued its earnings results on Tuesday, October 30th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $507.76 million for the quarter, compared to the consensus estimate of $472.96 million. During the same quarter last year, the business posted $0.38 EPS. Western Gas Partners’s quarterly revenue was down 11.6% on a year-over-year basis. As a group, equities analysts predict that Western Gas Partners will post 1.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.965 per share. This represents a $3.86 annualized dividend and a dividend yield of 8.25%. The ex-dividend date of this dividend is Tuesday, October 30th. This is a boost from Western Gas Partners’s previous quarterly dividend of $0.95. Western Gas Partners’s payout ratio is 296.92%.
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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