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

Several research analysts have weighed in on the company. Zacks Investment Research upgraded Western Gas Equity Partners L.P. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Wunderlich increased their target price on 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. 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 target price for the company. JPMorgan Chase & Co. increased their target price on Western Gas Equity Partners L.P. from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, March 30th. Finally, Citigroup Inc. lowered their target price on 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. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. Western Gas Equity Partners L.P. presently has an average rating of “Hold” and a consensus price target of $41.38.

The firm has a 50 day moving average price of $38.77 and a 200-day moving average price of $34.69. The firm has a market cap of $8.35 billion and a price-to-earnings ratio of 42.15.

Western Gas Equity Partners L.P. (NYSE:WGP) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.05. The business earned $383.14 million during the quarter, compared to analysts’ expectations of $411.70 million. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.19) earnings per share. Equities research analysts expect that Western Gas Equity Partners L.P. will post $1.37 EPS for the current year.

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

Several hedge funds have recently modified their holdings of WGP. 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 in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Western Gas Equity Partners L.P. during the fourth quarter worth about $1,069,000. Fort Washington Investment Advisors Inc. OH raised 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 in the last quarter. Finally, Jennison Associates LLC raised 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 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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