Western Gas Equity Partners LP (WGP) Holdings Reduced by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lowered its position in Western Gas Equity Partners LP (NYSE:WGP) by 12.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,765 shares of the pipeline company’s stock after selling 4,212 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Western Gas Equity Partners were worth $930,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Whittier Trust Co. acquired a new position in Western Gas Equity Partners in the 3rd quarter worth $138,000. Tortoise Index Solutions LLC lifted its holdings in Western Gas Equity Partners by 40.6% in the 3rd quarter. Tortoise Index Solutions LLC now owns 8,344 shares of the pipeline company’s stock worth $250,000 after buying an additional 2,408 shares in the last quarter. LVW Advisors LLC lifted its holdings in Western Gas Equity Partners by 39.5% in the 3rd quarter. LVW Advisors LLC now owns 10,425 shares of the pipeline company’s stock worth $312,000 after buying an additional 2,950 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Western Gas Equity Partners in the 3rd quarter worth $349,000. Finally, Russell Investments Group Ltd. acquired a new position in Western Gas Equity Partners in the 3rd quarter worth $359,000. Hedge funds and other institutional investors own 21.48% of the company’s stock.

A number of equities analysts have commented on WGP shares. Stifel Nicolaus started coverage on shares of Western Gas Equity Partners in a report on Tuesday, September 18th. They issued a “buy” rating and a $40.00 price objective on the stock. ValuEngine lowered shares of Western Gas Equity Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 18th. Wells Fargo & Co cut their target price on shares of Western Gas Equity Partners from $43.00 to $39.00 and set a “market perform” rating on the stock in a research note on Monday, September 24th. Royal Bank of Canada cut their target price on shares of Western Gas Equity Partners to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, October 4th. Finally, Bank of America cut their target price on shares of Western Gas Equity Partners from $39.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, October 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $38.83.

Shares of Western Gas Equity Partners stock opened at $30.64 on Friday. The stock has a market capitalization of $6.98 billion, a PE ratio of 17.81 and a beta of 1.40. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.26. Western Gas Equity Partners LP has a 1 year low of $25.89 and a 1 year high of $42.92.

Western Gas Equity Partners (NYSE:WGP) last issued its earnings results on Tuesday, October 30th. The pipeline company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.28). The company had revenue of $507.76 million during the quarter, compared to analyst estimates of $473.40 million. Western Gas Equity Partners had a net margin of 18.66% and a return on equity of 9.96%. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Sell-side analysts forecast that Western Gas Equity Partners LP will post 1.95 earnings per share for the current year.

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About Western Gas Equity Partners

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.

Further Reading: How to calculate the intrinsic value of a stock

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

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