Credit Suisse Group began coverage on shares of Western Gas Equity Partners (NYSE:WGP) in a report issued on Thursday, January 4th, MarketBeat reports. The brokerage set an “outperform” rating and a $49.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 20.10% from the company’s current price.

Several other brokerages have also commented on WGP. UBS Group upgraded Western Gas Equity Partners from a “neutral” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Western Gas Equity Partners from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, November 9th. Scotiabank restated a “buy” rating and issued a $51.00 target price on shares of Western Gas Equity Partners in a research note on Wednesday, October 25th. TheStreet lowered Western Gas Equity Partners from a “b” rating to a “c+” rating in a research note on Monday, October 16th. Finally, Morgan Stanley reduced their target price on Western Gas Equity Partners from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.58.

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Western Gas Equity Partners (NYSE WGP) traded down $0.62 during trading on Thursday, reaching $40.80. The company’s stock had a trading volume of 79,046 shares, compared to its average volume of 194,266. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $9,068.21, a price-to-earnings ratio of 24.73 and a beta of 1.50. Western Gas Equity Partners has a one year low of $33.92 and a one year high of $47.82.

Western Gas Equity Partners (NYSE:WGP) last posted its earnings results on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $574.70 million during the quarter, compared to analyst estimates of $530.80 million. Western Gas Equity Partners had a return on equity of 8.99% and a net margin of 16.96%. Western Gas Equity Partners’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. research analysts anticipate that Western Gas Equity Partners will post 1.7 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. Neuberger Berman Group LLC grew its position in shares of Western Gas Equity Partners by 3.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 11,536,740 shares of the pipeline company’s stock valued at $475,083,000 after acquiring an additional 343,660 shares during the period. Cohen & Steers Inc. grew its position in shares of Western Gas Equity Partners by 4.8% during the 3rd quarter. Cohen & Steers Inc. now owns 148,844 shares of the pipeline company’s stock valued at $6,129,000 after acquiring an additional 6,792 shares during the period. Dividend Assets Capital LLC grew its position in shares of Western Gas Equity Partners by 1.1% during the 3rd quarter. Dividend Assets Capital LLC now owns 337,784 shares of the pipeline company’s stock valued at $13,910,000 after acquiring an additional 3,512 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Western Gas Equity Partners by 1.6% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 867,019 shares of the pipeline company’s stock valued at $35,704,000 after acquiring an additional 13,337 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Western Gas Equity Partners by 152.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 71,778 shares of the pipeline company’s stock valued at $2,960,000 after acquiring an additional 43,364 shares during the period. Hedge funds and other institutional investors own 18.52% of the company’s stock.

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Western Gas Equity Partners Company Profile

Western Gas Equity Partners, LP is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil.

Analyst Recommendations for Western Gas Equity Partners (NYSE:WGP)

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