Shares of Western Gas Partners, LP (NYSE:WES) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $57.10.
Several analysts recently commented on WES shares. Scotiabank reiterated a “hold” rating and set a $61.00 price target on shares of Western Gas Partners in a research report on Wednesday, October 25th. Barclays dropped their target price on Western Gas Partners from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Morgan Stanley dropped their target price on Western Gas Partners from $52.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Seaport Global Securities assumed coverage on Western Gas Partners in a report on Tuesday, October 10th. They issued a “buy” rating and a $64.00 target price for the company. Finally, TheStreet lowered Western Gas Partners from a “b-” rating to a “c+” rating in a research note on Monday, November 6th.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cadence Capital Management LLC increased its holdings in Western Gas Partners by 12.4% during the 4th quarter. Cadence Capital Management LLC now owns 202,901 shares of the pipeline company’s stock worth $9,758,000 after purchasing an additional 22,380 shares during the period. Alps Advisors Inc. increased its holdings in Western Gas Partners by 2.4% during the 4th quarter. Alps Advisors Inc. now owns 8,329,599 shares of the pipeline company’s stock worth $400,570,000 after purchasing an additional 195,137 shares during the period. Charter Research & Investment Group Inc. purchased a new stake in Western Gas Partners during the 4th quarter worth about $1,489,000. Center Coast Capital Advisors LP increased its holdings in Western Gas Partners by 5.3% during the 4th quarter. Center Coast Capital Advisors LP now owns 4,278,382 shares of the pipeline company’s stock worth $205,747,000 after purchasing an additional 216,685 shares during the period. Finally, US Bancorp DE increased its holdings in Western Gas Partners by 5.6% during the 4th quarter. US Bancorp DE now owns 30,380 shares of the pipeline company’s stock worth $1,461,000 after purchasing an additional 1,609 shares during the period. Institutional investors own 62.08% of the company’s stock.
Shares of Western Gas Partners (NYSE WES) traded up $0.66 on Friday, hitting $49.82. The company had a trading volume of 13,490 shares, compared to its average volume of 617,785. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.91 and a quick ratio of 0.91. Western Gas Partners has a 52-week low of $42.68 and a 52-week high of $67.44. The stock has a market capitalization of $7,614.85, a PE ratio of 39.97, a price-to-earnings-growth ratio of 3.68 and a beta of 1.09.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 13th. Shareholders of record on Thursday, February 1st will be issued a dividend of $0.92 per share. This is an increase from Western Gas Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $3.68 annualized dividend and a yield of 7.39%. Western Gas Partners’s dividend payout ratio is 299.19%.
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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 in the United States.
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