Western Gas Partners, LP (WES) Shares Bought by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC boosted its holdings in Western Gas Partners, LP (NYSE:WES) by 16.9% during the 3rd quarter, Holdings Channel reports. The firm owned 136,432 shares of the pipeline company’s stock after acquiring an additional 19,735 shares during the period. Freestone Capital Holdings LLC’s holdings in Western Gas Partners were worth $5,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of WES. Tortoise Capital Advisors L.L.C. boosted its position in Western Gas Partners by 8.9% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 16,295,738 shares of the pipeline company’s stock worth $711,798,000 after purchasing an additional 1,333,515 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Western Gas Partners by 40.8% in the third quarter. JPMorgan Chase & Co. now owns 3,509,650 shares of the pipeline company’s stock worth $153,302,000 after purchasing an additional 1,017,349 shares during the last quarter. RR Advisors LLC boosted its position in Western Gas Partners by 73.8% in the third quarter. RR Advisors LLC now owns 2,018,000 shares of the pipeline company’s stock worth $88,230,000 after purchasing an additional 857,000 shares during the last quarter. Alps Advisors Inc. boosted its position in Western Gas Partners by 6.2% in the third quarter. Alps Advisors Inc. now owns 8,839,258 shares of the pipeline company’s stock worth $386,099,000 after purchasing an additional 517,576 shares during the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in Western Gas Partners in the second quarter worth $14,959,000. 63.75% of the stock is currently owned by institutional investors and hedge funds.

Western Gas Partners stock opened at $43.50 on Friday. Western Gas Partners, LP has a 52 week low of $38.35 and a 52 week high of $54.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.75 and a quick ratio of 0.75. The stock has a market cap of $6.71 billion, a P/E ratio of 33.46 and a beta of 1.28.

Western Gas Partners (NYSE:WES) last posted its earnings results on Tuesday, October 30th. The pipeline company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $507.76 million for the quarter, compared to analysts’ expectations of $472.96 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Western Gas Partners’s quarterly revenue was down 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Western Gas Partners, LP will post 1.22 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Wednesday, October 31st were given a dividend of $0.965 per share. This represents a $3.86 annualized dividend and a yield of 8.87%. This is a boost from Western Gas Partners’s previous quarterly dividend of $0.95. The ex-dividend date was Tuesday, October 30th. Western Gas Partners’s payout ratio is presently 296.92%.

WES has been the topic of several research reports. Barclays boosted their target price on Western Gas Partners from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 29th. Stifel Nicolaus boosted their target price on Western Gas Partners from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. ValuEngine upgraded Western Gas Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Credit Suisse Group initiated coverage on Western Gas Partners in a research note on Thursday, October 11th. They issued a “neutral” rating and a $45.00 target price on the stock. Finally, Citigroup boosted their target price on Western Gas Partners from $53.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $53.36.

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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.

See Also: Quiet Period

Want to see what other hedge funds are holding WES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Gas Partners, LP (NYSE:WES).

Institutional Ownership by Quarter for Western Gas Partners (NYSE:WES)

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