Trading Report: The Royal Bank Of Canada Increases Western Gas Partners, LP (WES) Price Target to $64.00

The Royal Bank Of Canada Increases Western Gas Partners, LP (WES) Price Target to $64.00

Western Gas Partners, LP (NYSE:WES) had its price target upped by investment analysts at Royal Bank Of Canada from $60.00 to $64.00 in a research note issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 16.58% from the company’s previous close.

A number of other equities analysts also recently commented on WES. Mitsubishi UFJ Financial Group started coverage on Western Gas Partners, in a report on Friday, June 17th. They issued a “neutral” rating and a $59.00 price objective on the stock. Zacks Investment Research raised Western Gas Partners, from a “hold” rating to a “strong-buy” rating and set a $57.00 target price for the company in a research report on Tuesday, July 26th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Western Gas Partners, in a research report on Thursday, July 28th. TheStreet raised 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 for the company. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Western Gas Partners, currently has an average rating of “Hold” and a consensus target price of $53.25.

Western Gas Partners, (NYSE:WES) opened at 54.90 on Tuesday. Western Gas Partners, has a 52-week low of $25.40 and a 52-week high of $56.11. The stock’s 50 day moving average is $51.53 and its 200-day moving average is $49.32. The firm has a market capitalization of $7.83 billion, a PE ratio of 324.85 and a beta of 0.96.

Western Gas Partners, (NYSE:WES) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.07. The firm earned $428.70 million during the quarter, compared to analyst estimates of $438.63 million. During the same quarter in the prior year, the company posted $0.44 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts expect that Western Gas Partners, will post $1.89 earnings per share for the current year.

In other Western Gas Partners, news, Director James R. Crane sold 129,914 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $50.86, for a total transaction of $6,607,426.04. Following the completion of the transaction, the director now directly owns 174,577 shares in the company, valued at $8,878,986.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David J. Tudor sold 4,000 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $49.12, for a total value of $196,480.00. Following the transaction, the director now owns 8,898 shares of the company’s stock, valued at $437,069.76. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Linscomb & Williams Inc. raised its position in Western Gas Partners, by 0.4% in the second quarter. Linscomb & Williams Inc. now owns 9,527 shares of the company’s stock valued at $480,000 after buying an additional 42 shares in the last quarter. Signaturefd LLC raised its position in Western Gas Partners, by 1.5% in the second quarter. Signaturefd LLC now owns 6,900 shares of the company’s stock valued at $348,000 after buying an additional 100 shares in the last quarter. IFP Advisors Inc raised its position in Western Gas Partners, by 9.0% in the second quarter. IFP Advisors Inc now owns 2,442 shares of the company’s stock valued at $123,000 after buying an additional 202 shares in the last quarter. Alliancebernstein L.P. raised its position in Western Gas Partners, by 2.3% in the second quarter. Alliancebernstein L.P. now owns 13,440 shares of the company’s stock valued at $677,000 after buying an additional 307 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in Western Gas Partners, by 1.6% in the second quarter. Van ECK Associates Corp now owns 24,320 shares of the company’s stock valued at $1,226,000 after buying an additional 373 shares in the last quarter.

Western Gas Partners, Company Profile

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