Shares of Western Gas Partners, LP (NYSE:WES) have earned a consensus rating of “Hold” from the sixteen research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $53.92.
Several research firms have commented on WES. Zacks Investment Research raised shares of 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. Stifel Nicolaus raised their target price on shares of Western Gas Partners from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, May 3rd. Barclays raised their target price on shares of Western Gas Partners from $45.00 to $49.00 and gave the company a “hold” rating in a report on Tuesday, June 12th. Bank of America raised their target price on shares of Western Gas Partners from $47.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, June 5th. Finally, Seaport Global Securities lowered shares of Western Gas Partners from a “buy” rating to a “neutral” rating and decreased their target price for the company from $59.00 to $41.00 in a report on Monday, April 9th.
Several institutional investors and hedge funds have recently bought and sold shares of WES. Jane Street Group LLC acquired a new stake in shares of Western Gas Partners in the 4th quarter valued at approximately $204,000. Penn Davis Mcfarland Inc. acquired a new stake in shares of Western Gas Partners in the 2nd quarter valued at approximately $266,000. Stephens Inc. AR boosted its stake 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 valued at $389,000 after purchasing an additional 1,187 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Western Gas Partners in the 1st quarter valued at approximately $427,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Western Gas Partners by 21.8% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,238 shares of the pipeline company’s stock valued at $437,000 after purchasing an additional 1,834 shares in the last quarter. Institutional investors own 59.54% of the company’s stock.
Western Gas Partners (NYSE:WES) last released its earnings results on Tuesday, May 1st. The pipeline company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.10). Western Gas Partners had a net margin of 28.35% and a return on equity of 15.44%. The firm had revenue of $437.17 million during the quarter, compared to the consensus estimate of $622.09 million. During the same period in the prior year, the business earned $0.01 earnings per share. Western Gas Partners’s quarterly revenue was down 15.3% compared to the same quarter last year. sell-side analysts anticipate that Western Gas Partners will post 2.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 13th. Stockholders of record on Wednesday, August 1st will be paid a $0.95 dividend. This is an increase from Western Gas Partners’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date of this dividend is Tuesday, July 31st. Western Gas Partners’s dividend payout ratio (DPR) is presently 287.69%.
Western Gas Partners Company Profile
Western Gas Partners LP engages in the owning, operating, acquiring, and developing of midstream energy assets. It involves in the gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil. The company was founded in August 2007 and is headquartered in The Woodlands, TX.
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