Western Gas Equity Partners LP (WGP) Holdings Lifted by Raymond James & Associates

Raymond James & Associates boosted its holdings in Western Gas Equity Partners LP (NYSE:WGP) by 36.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,167 shares of the pipeline company’s stock after buying an additional 2,732 shares during the period. Raymond James & Associates’ holdings in Western Gas Equity Partners were worth $363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Taylor Wealth Management Partners bought a new position in Western Gas Equity Partners in the 2nd quarter worth approximately $111,000. Baldwin Brothers Inc. MA bought a new position in Western Gas Equity Partners in the 2nd quarter worth approximately $194,000. Wetherby Asset Management Inc. bought a new position in Western Gas Equity Partners in the 2nd quarter worth approximately $215,000. Stokes Capital Advisors LLC bought a new position in Western Gas Equity Partners in the 2nd quarter worth approximately $234,000. Finally, Eagle Global Advisors LLC bought a new position in Western Gas Equity Partners in the 2nd quarter worth approximately $281,000. 21.35% of the stock is currently owned by institutional investors.

Shares of NYSE:WGP opened at $29.84 on Monday. Western Gas Equity Partners LP has a 1-year low of $29.36 and a 1-year high of $42.92. The company has a market cap of $6.53 billion, a PE ratio of 17.35 and a beta of 1.75. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14.



Western Gas Equity Partners (NYSE:WGP) last announced its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ 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. Research analysts expect that Western Gas Equity Partners LP will post 2.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, October 31st will be issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 7.98%. The ex-dividend date of this dividend is Tuesday, October 30th. This is a positive change from Western Gas Equity Partners’s previous quarterly dividend of $0.58. Western Gas Equity Partners’s dividend payout ratio (DPR) is presently 135.47%.

WGP has been the topic of several recent analyst reports. ValuEngine downgraded Western Gas Equity Partners from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Barclays dropped their price target on 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. Zacks Investment Research lowered Western Gas Equity Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 17th. Citigroup lifted their price objective on Western Gas Equity Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, Morgan Stanley decreased their price objective on Western Gas Equity Partners from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Western Gas Equity Partners has a consensus rating of “Hold” and a consensus target price of $39.23.

Western Gas Equity Partners Company Profile

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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