Western Gas Partners, LP (WES) Stock Price Down 0.8%
Western Gas Partners, LP (NYSE:WES) was down 0.8% during mid-day trading on Wednesday . The stock traded as low as $48.65 and last traded at $49.14, with a volume of 104,593 shares traded. The stock had previously closed at $49.55.
Several equities research analysts have issued reports on WES shares. Zacks Investment Research upgraded Western Gas Partners, from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Drexel Hamilton restated a “buy” rating and set a $51.00 target price on shares of Western Gas Partners, in a research report on Tuesday, April 12th. Citigroup Inc. dropped their target price on Western Gas Partners, from $57.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, April 7th. Credit Suisse Group AG downgraded Western Gas Partners, from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $88.00 to $53.00 in a research report on Thursday, March 17th. Finally, TheStreet upgraded Western Gas Partners, from a “sell” rating to a “hold” rating in a research report on Friday, April 1st. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Western Gas Partners, presently has an average rating of “Hold” and a consensus target price of $54.83.
The stock’s 50-day moving average price is $49.78 and its 200 day moving average price is $43.05. The company has a market cap of $7.00 billion and a PE ratio of 733.88.
Western Gas Partners, (NYSE:WES) last posted its earnings results on Tuesday, May 3rd. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.08. The firm had revenue of $383.14 million for the quarter, compared to analysts’ expectations of $411.68 million. The firm’s revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.26 EPS. Equities analysts anticipate that Western Gas Partners, LP will post $1.94 EPS for the current fiscal year.
In other news, CEO Donald R. Sinclair sold 10,000 shares of the business’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $46.90, for a total value of $469,000.00. Following the sale, the chief executive officer now directly owns 64,194 shares in the company, valued at approximately $3,010,698.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Other hedge funds have bought and sold shares of the company. Penserra Capital Management LLC acquired a new stake in Western Gas Partners, during the fourth quarter worth $1,337,000. Alps Advisors Inc. increased its position in shares of Western Gas Partners, by 8.8% in the fourth quarter. Alps Advisors Inc. now owns 6,036,421 shares of the company’s stock valued at $286,911,000 after buying an additional 489,602 shares during the last quarter. RR Advisors LLC increased its position in shares of Western Gas Partners, by 2.9% in the fourth quarter. RR Advisors LLC now owns 1,455,000 shares of the company’s stock valued at $69,136,000 after buying an additional 41,000 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new position in shares of Western Gas Partners, during the fourth quarter valued at approximately $24,036,000. Finally, Wells Fargo & Company MN increased its position in shares of Western Gas Partners, by 4.5% in the fourth quarter. Wells Fargo & Company MN now owns 68,377 shares of the company’s stock valued at $3,250,000 after buying an additional 2,965 shares during the last quarter.
Western Gas Partners, LP is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. The Company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil for Anadarko Petroleum Corporation (Anadarko), as well as third-party producers and customers.
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