Western Gas Equity Partners L.P. (NYSE:WGP) shares were down 2.3% during trading on Thursday . The stock traded as low as $37.61 and last traded at $37.61, with a volume of 112,686 shares traded. The stock had previously closed at $38.50.

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

The firm’s 50 day moving average price is $39.07 and its 200-day moving average price is $34.65. The firm has a market cap of $8.31 billion and a PE ratio of 41.96.

Western Gas Equity Partners L.P. (NYSE:WGP) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.05. The firm had revenue of $383.14 million for the quarter, compared to analyst estimates of $411.70 million. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) EPS. Analysts anticipate that Western Gas Equity Partners L.P. will post $1.37 EPS for the current year.

In other Western Gas Equity Partners L.P. news, CEO Donald R. Sinclair sold 27,970 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $42.35, for a total transaction of $1,184,529.50. Following the sale, the chief executive officer now owns 178,830 shares in the company, valued at $7,573,450.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Donald R. Sinclair sold 28,913 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $42.88, for a total value of $1,239,789.44. Following the sale, the chief executive officer now owns 246,754 shares in the company, valued at approximately $10,580,811.52. The disclosure for this sale can be found here.

A number of hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC purchased a new stake in shares of Western Gas Equity Partners L.P. during the fourth quarter valued at about $1,069,000. Jennison Associates LLC boosted its stake in shares of 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 during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its stake in shares of 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 during the last quarter. Finally, Chickasaw Capital Management LLC boosted 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.

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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