Western Gas Partners (WES) Stock Rating Upgraded by ValuEngine

Western Gas Partners (NYSE:WES) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other analysts also recently commented on the stock. Bank of America raised shares of Western Gas Partners from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a report on Wednesday. Stifel Nicolaus set a $56.00 target price on shares of Western Gas Partners and gave the stock a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research downgraded shares of Western Gas Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 30th. Barclays lifted their target price on shares of Western Gas Partners from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, October 12th. Finally, Credit Suisse Group assumed coverage on shares of Western Gas Partners in a report on Thursday, October 11th. They set a “neutral” rating and a $45.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $53.21.

Shares of WES stock traded up $0.14 during midday trading on Thursday, hitting $46.91. 2,375,700 shares of the company were exchanged, compared to its average volume of 620,304. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 36.08 and a beta of 1.28. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.75 and a current ratio of 0.75. Western Gas Partners has a 52 week low of $38.35 and a 52 week high of $54.40.

Western Gas Partners (NYSE:WES) last announced its earnings results on Tuesday, October 30th. The pipeline company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.28). The company had revenue of $507.76 million for the quarter, compared to the consensus estimate of $472.96 million. Western Gas Partners had a return on equity of 12.78% and a net margin of 24.11%. The business’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. Sell-side analysts forecast that Western Gas Partners will post 1.52 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of WES. Tortoise Capital Advisors L.L.C. boosted its holdings in Western Gas Partners by 8.9% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 16,295,738 shares of the pipeline company’s stock valued at $711,798,000 after purchasing an additional 1,333,515 shares during the period. JPMorgan Chase & Co. boosted its holdings in Western Gas Partners by 40.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,509,650 shares of the pipeline company’s stock valued at $153,302,000 after purchasing an additional 1,017,349 shares during the period. Alps Advisors Inc. boosted its holdings in Western Gas Partners by 6.2% in the 3rd quarter. Alps Advisors Inc. now owns 8,839,258 shares of the pipeline company’s stock valued at $386,099,000 after purchasing an additional 517,576 shares during the period. First Republic Investment Management Inc. bought a new stake in Western Gas Partners in the 2nd quarter valued at about $14,959,000. Finally, Perella Weinberg Partners Capital Management LP boosted its holdings in Western Gas Partners by 477.1% in the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 338,333 shares of the pipeline company’s stock valued at $16,372,000 after purchasing an additional 279,708 shares during the period. 59.65% of the stock is owned by hedge funds and other institutional investors.

About Western Gas Partners

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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Analyst Recommendations for Western Gas Partners (NYSE:WES)

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