Western Gas Equity Partners L.P. (WGP) Sees Unusually-High Trading Volume
Western Gas Equity Partners L.P. (NYSE:WGP) saw unusually-strong trading volume on Thursday . Approximately 412,686 shares changed hands during trading, an increase of 53% from the previous session’s volume of 269,711 shares.The stock last traded at $36.83 and had previously closed at $36.63.
Several equities analysts have issued reports on WGP shares. 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 started coverage on shares of Western Gas Equity Partners L.P. in a report on Friday, June 17th. They set a “neutral” rating and a $45.00 price objective on the stock. Janney Montgomery Scott started coverage on shares of Western Gas Equity Partners L.P. in a report on Friday, July 29th. They set a “buy” rating and a $45.00 price objective on the stock. Finally, Citigroup Inc. increased their price objective on shares of Western Gas Equity Partners L.P. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the stock. Western Gas Equity Partners L.P. presently has a consensus rating of “Hold” and a consensus price target of $38.85.
The company has a market capitalization of $7.99 billion and a price-to-earnings ratio of 36.65. The firm’s 50 day moving average price is $37.38 and its 200 day moving average price is $35.69.
Western Gas Equity Partners L.P. (NYSE:WGP) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.08. During the same period last year, the company earned $0.31 earnings per share. The company had revenue of $428.66 million for the quarter, compared to analyst estimates of $436.41 million. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Western Gas Equity Partners L.P. will post $1.37 EPS for the current year.
The firm also recently disclosed a dividend, which will be paid on Monday, August 22nd. Investors of record on Monday, August 1st will be paid a $0.434 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This is a boost from Western Gas Equity Partners L.P.’s previous dividend of $0.42.
In related news, CEO Donald R. Sinclair sold 28,913 shares of the stock in a transaction dated 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 directly owns 246,754 shares of the company’s stock, valued at approximately $10,580,811.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Donald R. Sinclair sold 27,970 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $42.35, for a total transaction of $1,184,529.50. Following the completion of the sale, the chief executive officer now directly owns 178,830 shares in the company, valued at $7,573,450.50. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Western Gas Equity Partners L.P. stock. Jennison Associates LLC raised its position in shares of Western Gas Equity Partners L.P. (NYSE:WGP) by 53.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 38,781 shares of the company’s stock after buying an additional 13,427 shares during the period. Jennison Associates LLC’s holdings in Western Gas Equity Partners L.P. were worth $1,407,000 at the end of the most recent quarter.
Western Gas Equity Partners, LP (WGP) is a limited partnership formed in to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES owns, operates, acquires and develops midstream energy assets. Through its subsidiary 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).
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