Western Gas Partners, LP (WES) Trading Down 2.3%
Western Gas Partners, LP (NYSE:WES)’s share price fell 2.3% during trading on Thursday . The company traded as low as $48.75 and last traded at $49.17, with a volume of 98,279 shares. The stock had previously closed at $50.32.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group AG reissued a “hold” rating on shares of Western Gas Partners, in a research report on Thursday, July 28th. Mitsubishi UFJ Financial Group assumed coverage on Western Gas Partners, in a research report on Friday, June 17th. They set a “neutral” rating and a $59.00 target price on the stock. Zacks Investment Research raised Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a research report on Tuesday, July 26th. Janney Montgomery Scott assumed coverage on Western Gas Partners, in a research report on Friday, July 29th. They set a “buy” rating and a $60.00 target price on the stock. Finally, TheStreet raised Western Gas Partners, from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $53.25.
The stock has a market capitalization of $7.21 billion and a P/E ratio of 299.17. The stock’s 50-day moving average price is $49.93 and its 200-day moving average price is $46.77.
Western Gas Partners, (NYSE:WES) last issued its earnings results on Tuesday, July 26th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.07. The firm earned $428.70 million during the quarter, compared to the consensus estimate of $438.63 million. During the same period in the previous year, the company posted $0.44 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities analysts forecast that Western Gas Partners, LP will post $1.90 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were issued a $0.815 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $3.26 dividend on an annualized basis and a dividend yield of 6.45%.
In other news, Director James R. Crane sold 60,456 shares of the company’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $50.39, for a total value of $3,046,377.84. Following the sale, the director now directly owns 409,502 shares of the company’s stock, valued at approximately $20,634,805.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Donald R. Sinclair sold 10,000 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $46.90, for a total transaction of $469,000.00. Following the completion of the sale, the chief executive officer now directly owns 64,194 shares in the company, valued at $3,010,698.60. The disclosure for this sale can be found here.
Western Gas Partners, LP is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. 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), as well as third-party producers and customers.
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