Today: The Royal Bank Of Canada Increases Western Gas Equity Partners L.P. (WGP) Price Target to $48.00

The Royal Bank Of Canada Increases Western Gas Equity Partners L.P. (WGP) Price Target to $48.00

Western Gas Equity Partners L.P. (NYSE:WGP) had its target price upped by equities research analysts at Royal Bank Of Canada from $44.00 to $48.00 in a research note issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 13.64% from the company’s previous close.

Several other brokerages also recently issued reports on WGP. Deutsche Bank AG reissued a “hold” rating and set a $44.00 price target on shares of Western Gas Equity Partners L.P. in a report on Thursday, October 6th. Barclays PLC raised shares of Western Gas Equity Partners L.P. from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $48.00 to $52.00 in a report on Monday. Zacks Investment Research raised shares of Western Gas Equity Partners L.P. from a “hold” rating to a “strong-buy” rating and set a $43.00 price target for the company in a report on Tuesday, July 26th. Janney Montgomery Scott assumed coverage on shares of Western Gas Equity Partners L.P. in a report on Friday, July 29th. They set a “buy” rating and a $45.00 price target for the company. Finally, Citigroup Inc. boosted their price target on shares of Western Gas Equity Partners L.P. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $41.60.

Shares of Western Gas Equity Partners L.P. (NYSE:WGP) opened at 42.24 on Tuesday. Western Gas Equity Partners L.P. has a 1-year low of $19.21 and a 1-year high of $46.20. The firm has a market cap of $9.25 billion, a PE ratio of 42.41 and a beta of 1.66. The stock has a 50 day moving average of $39.11 and a 200 day moving average of $38.64.

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

A number of large investors have recently bought and sold shares of WGP. Acrospire Investment Management LLC increased its stake in Western Gas Equity Partners L.P. by 52.6% in the second quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock valued at $111,000 after buying an additional 1,000 shares during the last quarter. US Bancorp DE increased its stake in Western Gas Equity Partners L.P. by 5.6% in the second quarter. US Bancorp DE now owns 3,167 shares of the company’s stock valued at $121,000 after buying an additional 167 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Western Gas Equity Partners L.P. during the second quarter valued at $161,000. Sterling Capital Management LLC bought a new stake in Western Gas Equity Partners L.P. during the second quarter valued at $229,000. Finally, Jane Street Group LLC bought a new stake in Western Gas Equity Partners L.P. during the second quarter valued at $245,000. 17.50% of the stock is owned by institutional investors and hedge funds.

Western Gas Equity Partners L.P. Company Profile

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