Western Gas Partners, LP (NYSE:WES) had its price target lifted by analysts at Barclays PLC from $60.00 to $63.00 in a report issued on Monday. The brokerage presently has an “overweight” rating on the stock. Barclays PLC’s price objective indicates a potential upside of 15.58% from the company’s previous close.
Several other analysts also recently issued reports on WES. Mitsubishi UFJ Financial Group started coverage on Western Gas Partners, in a research report on Friday, June 17th. They issued a “neutral” rating and a $59.00 price objective on the stock. Zacks Investment Research upgraded Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective on the stock in a research report on Tuesday, July 26th. Credit Suisse Group AG restated a “hold” rating on shares of Western Gas Partners, in a research report on Thursday, July 28th. TheStreet upgraded Western Gas Partners, from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Finally, Janney Montgomery Scott started 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. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $52.53.
Western Gas Partners, (NYSE:WES) opened at 54.51 on Monday. The company has a 50-day moving average of $51.40 and a 200 day moving average of $49.28. Western Gas Partners, has a one year low of $25.40 and a one year high of $56.11. The firm has a market cap of $7.77 billion, a P/E ratio of 322.54 and a beta of 0.96.
Western Gas Partners, (NYSE:WES) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.07. The company earned $428.70 million during the quarter, compared to analysts’ expectations of $438.63 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. Equities research analysts expect that Western Gas Partners, will post $1.89 earnings per share for the current fiscal year.
In other news, Director James R. Crane sold 129,914 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $50.86, for a total value of $6,607,426.04. Following the completion of the sale, the director now owns 174,577 shares in the company, valued at $8,878,986.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Crane sold 47,223 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $50.69, for a total value of $2,393,733.87. Following the completion of the sale, the director now owns 363,175 shares of the company’s stock, valued at approximately $18,409,340.75. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in Western Gas Partners, by 33.1% in the first quarter. Goldman Sachs Group Inc. now owns 4,900,934 shares of the company’s stock worth $212,749,000 after buying an additional 1,218,204 shares during the period. Chickasaw Capital Management LLC raised its stake in Western Gas Partners, by 10.1% in the second quarter. Chickasaw Capital Management LLC now owns 2,279,920 shares of the company’s stock worth $114,908,000 after buying an additional 208,615 shares during the period. JPMorgan Chase & Co. raised its stake in Western Gas Partners, by 6.3% in the second quarter. JPMorgan Chase & Co. now owns 1,479,287 shares of the company’s stock worth $74,555,000 after buying an additional 88,101 shares during the period. Bank of Montreal Can bought a new stake in Western Gas Partners, during the second quarter worth about $27,350,000. Finally, ING Groep NV bought a new stake in Western Gas Partners, during the first quarter worth about $16,410,000.
About Western Gas Partners,
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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