Conning Inc. decreased its position in Western Gas Equity Partners L.P. (NYSE:WGP) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 113,184 shares of the company’s stock after selling 6,391 shares during the period. Conning Inc. owned 0.05% of Western Gas Equity Partners L.P. worth $4,329,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WGP. Chicago Partners Investment Group LLC raised its position in Western Gas Equity Partners L.P. by 1.5% in the first quarter. Chicago Partners Investment Group LLC now owns 7,405 shares of the company’s stock worth $264,000 after buying an additional 106 shares during the period. LPL Financial LLC raised its position in Western Gas Equity Partners L.P. by 5.6% in the first quarter. LPL Financial LLC now owns 8,450 shares of the company’s stock worth $276,000 after buying an additional 450 shares during the period. BNP Paribas Arbitrage SA bought a new position in Western Gas Equity Partners L.P. during the second quarter worth approximately $300,000. Glenmede Trust Co. NA raised its position in shares of Western Gas Equity Partners L.P. by 75.2% in the first quarter. Glenmede Trust Co. NA now owns 9,200 shares of the company’s stock valued at $327,000 after buying an additional 3,950 shares during the last quarter. Finally, LVW Advisors LLC raised its position in shares of Western Gas Equity Partners L.P. by 30.8% in the first quarter. LVW Advisors LLC now owns 14,650 shares of the company’s stock valued at $522,000 after buying an additional 3,450 shares during the last quarter. Hedge funds and other institutional investors own 17.50% of the company’s stock.

Western Gas Equity Partners L.P. (NYSE:WGP) traded up 0.13% during midday trading on Thursday, hitting $39.68. The company had a trading volume of 241,908 shares. Western Gas Equity Partners L.P. has a 52 week low of $19.21 and a 52 week high of $46.58. The firm has a market capitalization of $8.69 billion, a P/E ratio of 39.84 and a beta of 1.71. The firm’s 50 day moving average is $37.05 and its 200-day moving average is $37.71.

Western Gas Equity Partners L.P. (NYSE:WGP) last posted its earnings results on Tuesday, July 26th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.08. The firm had revenue of $428.66 million for the quarter, compared to the consensus estimate of $436.41 million. Western Gas Equity Partners L.P. had a return on equity of 6.03% and a net margin of 14.55%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. On average, equities research analysts expect that Western Gas Equity Partners L.P. will post $1.43 EPS for the current fiscal year.

Several brokerages have recently issued reports on WGP. Zacks Investment Research upgraded Western Gas Equity Partners L.P. from a “hold” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research note on Tuesday, July 26th. Citigroup Inc. lifted their price target on Western Gas Equity Partners L.P. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Janney Montgomery Scott began coverage on Western Gas Equity Partners L.P. in a research note on Friday, July 29th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Mitsubishi UFJ Financial Group began coverage on Western Gas Equity Partners L.P. in a research note on Friday, June 17th. They issued a “neutral” rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $38.85.

Western Gas Equity Partners L.P. Company Profile

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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