Gryphon Financial Partners LLC increased its stake in Western Gas Partners, LP (NYSE:WES) by 113.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,091 shares of the pipeline company’s stock after buying an additional 2,705 shares during the period. Gryphon Financial Partners LLC’s holdings in Western Gas Partners were worth $222,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of WES. Whittier Trust Co. bought a new stake in shares of Western Gas Partners in the third quarter worth $183,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Western Gas Partners in the second quarter worth $187,000. LVW Advisors LLC bought a new stake in shares of Western Gas Partners in the second quarter worth $202,000. Parkside Financial Bank & Trust bought a new stake in shares of Western Gas Partners in the third quarter worth $252,000. Finally, Penn Davis Mcfarland Inc. bought a new stake in shares of Western Gas Partners in the second quarter worth $266,000. Institutional investors and hedge funds own 59.65% of the company’s stock.
A number of brokerages recently issued reports on WES. ValuEngine upgraded shares of Western Gas Partners from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Citigroup lifted their price target on shares of Western Gas Partners from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Morgan Stanley dropped their price target on shares of Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating for the company in a research note on Friday, August 17th. Zacks Investment Research upgraded shares of Western Gas Partners from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, July 26th. Finally, Barclays lifted their price target on shares of Western Gas Partners from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 29th. One research 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 a consensus rating of “Hold” and an average target price of $53.21.
Western Gas Partners (NYSE:WES) last released its quarterly earnings data on Tuesday, October 30th. The pipeline company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.28). The business had revenue of $507.76 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. On average, analysts anticipate that Western Gas Partners, LP will post 1.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Wednesday, October 31st will be issued a $0.965 dividend. This represents a $3.86 dividend on an annualized basis and a yield of 8.34%. The ex-dividend date is Tuesday, October 30th. This is an increase from Western Gas Partners’s previous quarterly dividend of $0.95. Western Gas Partners’s payout ratio is currently 296.92%.
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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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