Barclays Raises Western Gas Partners (WES) Price Target to $51.00

Western Gas Partners (NYSE:WES) had its target price hoisted by analysts at Barclays from $50.00 to $51.00 in a report released on Friday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the pipeline company’s stock. Barclays’ price target suggests a potential upside of 10.99% from the stock’s current price.

A number of other research firms have also recently commented on WES. Stifel Nicolaus lifted their price objective on shares of Western Gas Partners from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Bank of America reduced their price objective on shares of Western Gas Partners from $53.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, October 1st. Wells Fargo & Co reduced their price objective on shares of Western Gas Partners from $51.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, September 24th. Citigroup lifted their price objective on shares of Western Gas Partners from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Finally, ValuEngine raised shares of Western Gas Partners from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $53.57.

WES stock opened at $45.95 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.51 and a quick ratio of 0.51. Western Gas Partners has a one year low of $40.44 and a one year high of $54.40. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 35.35, a P/E/G ratio of 3.98 and a beta of 1.30.

Western Gas Partners (NYSE:WES) last released its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. Western Gas Partners had a net margin of 22.80% and a return on equity of 12.18%. The firm had revenue of $435.95 million during the quarter. As a group, sell-side analysts anticipate that Western Gas Partners will post 1.83 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Starr International Co. Inc. acquired a new stake in shares of Western Gas Partners during the second quarter worth $5,827,000. Natixis acquired a new stake in shares of Western Gas Partners during the second quarter worth $4,858,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Western Gas Partners by 220.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 32,000 shares of the pipeline company’s stock worth $1,548,000 after buying an additional 22,000 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of Western Gas Partners by 39.3% during the second quarter. HITE Hedge Asset Management LLC now owns 123,962 shares of the pipeline company’s stock worth $5,999,000 after buying an additional 35,002 shares in the last quarter. Finally, Altman Advisors Inc. acquired a new stake in shares of Western Gas Partners during the second quarter worth $1,690,000. 59.79% of the stock is owned by institutional investors.

Western Gas Partners Company Profile

Western Gas Partners, LP acquires, develops, owns, and operates midstream energy assets in the Rocky Mountains, North-central Pennsylvania, and Texas. It is involved in gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil. Western Gas Holdings, LLC serves as the general partner of Western Gas Partners, LP.

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