MAI Capital Management boosted its holdings in Western Gas Equity Partners LP (NYSE:WGP) by 3.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 93,669 shares of the pipeline company’s stock after buying an additional 2,806 shares during the quarter. MAI Capital Management’s holdings in Western Gas Equity Partners were worth $3,349,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Cbre Clarion Securities LLC grew its position in Western Gas Equity Partners by 21.2% in the second quarter. Cbre Clarion Securities LLC now owns 40,737 shares of the pipeline company’s stock worth $1,456,000 after buying an additional 7,137 shares during the last quarter. Jennison Associates LLC acquired a new position in Western Gas Equity Partners in the second quarter worth approximately $17,301,000. Fort Washington Investment Advisors Inc. OH grew its position in Western Gas Equity Partners by 0.8% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 350,361 shares of the pipeline company’s stock worth $12,525,000 after buying an additional 2,900 shares during the last quarter. Baldwin Brothers Inc. MA acquired a new position in Western Gas Equity Partners in the second quarter worth approximately $194,000. Finally, Stokes Capital Advisors LLC acquired a new position in Western Gas Equity Partners in the second quarter worth approximately $234,000. Hedge funds and other institutional investors own 21.44% of the company’s stock.

NYSE WGP opened at $33.63 on Wednesday. Western Gas Equity Partners LP has a twelve month low of $31.63 and a twelve month high of $42.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $7.34 billion, a price-to-earnings ratio of 19.55 and a beta of 1.70.

Western Gas Equity Partners (NYSE:WGP) last posted its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.12). Western Gas Equity Partners had a return on equity of 9.42% and a net margin of 17.52%. The firm had revenue of $435.95 million for the quarter. equities analysts expect that Western Gas Equity Partners LP will post 1.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Stockholders of record on Wednesday, August 1st were issued a dividend of $0.582 per share. This is a boost from Western Gas Equity Partners’s previous quarterly dividend of $0.45. This represents a $2.33 annualized dividend and a dividend yield of 6.92%. The ex-dividend date was Tuesday, July 31st. Western Gas Equity Partners’s payout ratio is currently 135.47%.

WGP has been the topic of several recent research reports. Zacks Investment Research lowered shares of Western Gas Equity Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 17th. Citigroup lifted their price objective on shares of Western Gas Equity Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Stifel Nicolaus initiated coverage on shares of Western Gas Equity Partners in a research report on Tuesday. They set a “buy” rating and a $40.00 price objective on the stock. Barclays lowered their price objective on shares of Western Gas Equity Partners from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. Finally, ValuEngine cut shares of Western Gas Equity Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $41.27.

About Western Gas Equity Partners

Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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Institutional Ownership by Quarter for Western Gas Equity Partners (NYSE:WGP)

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