Western Gas Equity Partners L.P. (NYSE:WGP) traded down 1.2% during mid-day trading on Friday . The company traded as low as $37.30 and last traded at $37.75, with a volume of 72,854 shares changing hands. The stock had previously closed at $38.20.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Western Gas Equity Partners L.P. from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 3rd. Mitsubishi UFJ Financial Group assumed coverage on shares of Western Gas Equity Partners L.P. in a report on Friday, June 17th. They issued a “neutral” rating and a $45.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Western Gas Equity Partners L.P. from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, March 30th. Citigroup Inc. lowered their target price on shares of Western Gas Equity Partners L.P. from $43.00 to $36.00 and set a “neutral” rating for the company in a report on Thursday, April 7th. Finally, Wunderlich boosted their target price on shares of Western Gas Equity Partners L.P. from $28.00 to $33.00 and gave the company a “hold” rating in a report on Friday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $41.38.

The company has a 50-day moving average price of $39.35 and a 200-day moving average price of $34.59. The stock has a market cap of $8.26 billion and a price-to-earnings ratio of 41.71.

Western Gas Equity Partners L.P. (NYSE:WGP) last issued its earnings results on Tuesday, May 3rd. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business earned $383.14 million during the quarter, compared to analyst estimates of $411.70 million. Western Gas Equity Partners L.P.’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. Equities analysts anticipate that Western Gas Equity Partners L.P. will post $1.33 EPS for the current year.

In other news, CEO Donald R. Sinclair sold 50,000 shares of the company’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $36.26, for a total value of $1,813,000.00. Following the transaction, the chief executive officer now owns 125,667 shares in the company, valued at approximately $4,556,685.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Petroleum Corp Anadarko sold 12,500,000 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $38.09, for a total value of $476,125,000.00. The disclosure for this sale can be found here.

Other institutional investors have recently added to or reduced their stakes in the company. Chickasaw Capital Management LLC increased its position in Western Gas Equity Partners L.P. by 26.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 3,703,482 shares of the company’s stock worth $134,399,000 after buying an additional 776,476 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Western Gas Equity Partners L.P. during the fourth quarter worth approximately $1,069,000. Miller Howard Investments Inc. NY increased its position in Western Gas Equity Partners L.P. by 96.6% in the fourth quarter. Miller Howard Investments Inc. NY now owns 123,128 shares of the company’s stock worth $4,468,000 after buying an additional 60,506 shares in the last quarter. RR Advisors LLC increased its position in Western Gas Equity Partners L.P. by 461.5% in the fourth quarter. RR Advisors LLC now owns 73,000 shares of the company’s stock worth $2,666,000 after buying an additional 60,000 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in Western Gas Equity Partners L.P. by 5.5% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 191,000 shares of the company’s stock worth $6,931,000 after buying an additional 10,000 shares in the last quarter.

Western Gas Equity Partners, LP (WGP) owns, operates, acquires and develops midstream energy assets. Through its subsidiary Western Gas Partners, LP (WES), 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) and its consolidated subsidiaries, as well as third-party producers and customers.

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