Western Gas Equity Partners L.P. (NYSE:WGP)’s share price dropped 1.2% during trading on Friday . The stock traded as low as $37.30 and last traded at $37.75, with a volume of 72,854 shares trading hands. The stock had previously closed at $38.20.

WGP has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Western Gas Equity Partners L.P. from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, March 30th. Zacks Investment Research upgraded shares of Western Gas Equity Partners L.P. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 6th. Citigroup Inc. decreased their price target 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 research report on Thursday, April 7th. Wunderlich upped their price target on shares of Western Gas Equity Partners L.P. from $28.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, April 8th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Western Gas Equity Partners L.P. in a research report on Friday, June 17th. They issued a “neutral” rating and a $45.00 price target for the company. Two 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 has a consensus rating of “Hold” and a consensus target price of $41.38.

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

Western Gas Equity Partners L.P. (NYSE:WGP) last announced its earnings results on Tuesday, May 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. The company had revenue of $383.14 million for the quarter, compared to the consensus estimate of $411.70 million. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, equities analysts predict that Western Gas Equity Partners L.P. will post $1.33 EPS for the current fiscal year.

In other Western Gas Equity Partners L.P. news, CEO Donald R. Sinclair sold 72,030 shares of Western Gas Equity Partners L.P. stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $42.81, for a total transaction of $3,083,604.30. Following the completion of the sale, the chief executive officer now directly owns 246,754 shares in the company, valued at $10,563,538.74. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Donald R. Sinclair sold 28,913 shares of Western Gas Equity Partners L.P. stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $42.88, for a total transaction of $1,239,789.44. Following the sale, the chief executive officer now owns 246,754 shares of the company’s stock, valued at $10,580,811.52. The disclosure for this sale can be found here.

Other large investors have made changes to their positions in the company. Chickasaw Capital Management LLC raised its stake in shares of 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 during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake 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. RR Advisors LLC raised its stake 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. Jennison Associates LLC raised its stake in Western Gas Equity Partners L.P. by 53.0% in the fourth quarter. Jennison Associates LLC now owns 38,781 shares of the company’s stock worth $1,407,000 after buying an additional 13,427 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in Western Gas Equity Partners L.P. during the fourth quarter worth approximately $1,069,000.

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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