Western Gas Equity (NYSE:WGP) has received a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $41.67.
WGP has been the subject of a number of recent research reports. Citigroup upgraded shares of Western Gas Equity from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 27th. Deutsche Bank initiated coverage on shares of Western Gas Equity in a research note on Thursday, April 19th. They issued a “buy” rating and a $38.00 price objective for the company. Scotiabank restated a “buy” rating and issued a $49.00 price objective on shares of Western Gas Equity in a research note on Monday, January 29th. Barclays cut shares of Western Gas Equity from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $51.00 to $45.00 in a research note on Wednesday, January 17th. Finally, Zacks Investment Research upgraded shares of Western Gas Equity from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th.
Western Gas Equity traded up $0.16, reaching $35.45, during mid-day trading on Thursday, Marketbeat.com reports. The company had a trading volume of 347,500 shares, compared to its average volume of 225,438. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.45 and a quick ratio of 1.45. Western Gas Equity has a 52 week low of $31.63 and a 52 week high of $45.99. The company has a market cap of $7.75 billion, a PE ratio of 20.61 and a beta of 1.52.
Western Gas Equity (NYSE:WGP) last issued its quarterly earnings results on Tuesday, May 1st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Western Gas Equity had a net margin of 18.52% and a return on equity of 10.15%. The firm had revenue of $437.17 million during the quarter, compared to the consensus estimate of $641.06 million. During the same period in the prior year, the firm earned $0.35 EPS. The business’s revenue was down 15.3% on a year-over-year basis. analysts expect that Western Gas Equity will post 1.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Wednesday, May 2nd will be given a dividend of $0.569 per share. The ex-dividend date of this dividend is Tuesday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.42%. This is a boost from Western Gas Equity’s previous quarterly dividend of $0.55. Western Gas Equity’s dividend payout ratio (DPR) is 132.56%.
Institutional investors have recently made changes to their positions in the stock. Icon Wealth Partners LLC acquired a new stake in shares of Western Gas Equity during the 4th quarter worth about $119,000. Captrust Financial Advisors acquired a new stake in shares of Western Gas Equity during the 4th quarter worth about $120,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Western Gas Equity during the 4th quarter worth about $132,000. Oxbow Advisors LLC acquired a new stake in shares of Western Gas Equity during the 1st quarter worth about $202,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Western Gas Equity during the 1st quarter worth about $223,000. Institutional investors and hedge funds own 18.13% of the company’s stock.
Western Gas Equity Company Profile
Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.
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