Trading Report: The Western Gas Partners,’s (WES) “Outperform” Rating Reaffirmed at RBC Capital Markets

The Western Gas Partners,’s (WES) “Outperform” Rating Reaffirmed at RBC Capital Markets

RBC Capital Markets reaffirmed their outperform rating on shares of Western Gas Partners, LP (NYSE:WES) in a research note released on Wednesday morning. The firm currently has a $64.00 target price on the stock, up from their previous target price of $60.00.

A number of other brokerages have also recently issued reports on WES. TheStreet upgraded shares of Western Gas Partners, from a hold rating to a buy rating in a research report on Wednesday, July 27th. Barclays PLC lifted their target price on shares of Western Gas Partners, from $60.00 to $63.00 and gave the stock an overweight rating in a research report on Monday. Janney Montgomery Scott began coverage on shares of 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. Zacks Investment Research lowered shares of Western Gas Partners, from a buy rating to a hold rating in a research report on Tuesday, August 2nd. Finally, Royal Bank Of Canada boosted their price objective on shares of Western Gas Partners, from $60.00 to $64.00 and gave the company an outperform rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Western Gas Partners, currently has a consensus rating of Hold and a consensus price target of $53.25.

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

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

In other Western Gas Partners, news, Director James R. Crane sold 47,223 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $50.69, for a total transaction of $2,393,733.87. Following the sale, the director now directly owns 363,175 shares of the company’s stock, valued at $18,409,340.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Crane sold 55,406 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $50.23, for a total transaction of $2,783,043.38. Following the sale, the director now directly owns 361,669 shares in the company, valued at $18,166,633.87. The disclosure for this sale can be found here.

Several hedge funds have recently modified their holdings of WES. Spirit of America Management Corp NY boosted its stake in shares of Western Gas Partners, by 26.4% in the second quarter. Spirit of America Management Corp NY now owns 271,319 shares of the company’s stock worth $13,674,000 after buying an additional 56,680 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Western Gas Partners, by 15.5% in the second quarter. BNP Paribas Arbitrage SA now owns 11,375 shares of the company’s stock worth $573,000 after buying an additional 1,523 shares during the period. Babson Capital Management LLC acquired a new stake in shares of Western Gas Partners, during the first quarter worth $1,485,000. Chilton Capital Management LLC boosted its stake in shares of Western Gas Partners, by 0.9% in the first quarter. Chilton Capital Management LLC now owns 48,107 shares of the company’s stock worth $2,088,000 after buying an additional 410 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its stake in shares of Western Gas Partners, by 55.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 156,207 shares of the company’s stock worth $6,781,000 after buying an additional 55,501 shares during the period.

Western Gas Partners, Company Profile

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