Western Gas Equity Partners LP (WGP) Shares Bought by MAI Capital Management

MAI Capital Management lifted its holdings in shares of Western Gas Equity Partners LP (NYSE:WGP) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,705 shares of the pipeline company’s stock after buying an additional 2,036 shares during the quarter. MAI Capital Management’s holdings in Western Gas Equity Partners were worth $2,865,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WGP. Summit Trail Advisors LLC raised its stake in shares of Western Gas Equity Partners by 3,262.6% during the 1st quarter. Summit Trail Advisors LLC now owns 2,319,420 shares of the pipeline company’s stock worth $2,319,000 after buying an additional 2,250,443 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Western Gas Equity Partners by 111.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,285,547 shares of the pipeline company’s stock worth $81,708,000 after buying an additional 1,202,446 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Western Gas Equity Partners during the 2nd quarter worth approximately $33,198,000. Tortoise Capital Advisors L.L.C. raised its stake in shares of Western Gas Equity Partners by 59.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,870,803 shares of the pipeline company’s stock worth $66,881,000 after buying an additional 699,232 shares during the period. Finally, Brookfield Asset Management Inc. raised its stake in shares of Western Gas Equity Partners by 1,057.0% during the 1st quarter. Brookfield Asset Management Inc. now owns 714,174 shares of the pipeline company’s stock worth $23,654,000 after buying an additional 652,445 shares during the period. 21.44% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the company. Citigroup upped their target price on Western Gas Equity Partners from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. ValuEngine raised Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 9th. Zacks Investment Research raised Western Gas Equity Partners from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Morgan Stanley reduced their price objective on Western Gas Equity Partners from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, August 17th. Finally, Barclays reduced their price objective on Western Gas Equity Partners from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, seven have issued 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 a consensus target price of $39.77.

NYSE WGP opened at $32.61 on Friday. Western Gas Equity Partners LP has a one year low of $29.69 and a one year high of $42.92. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $6.56 billion, a P/E ratio of 18.96 and a beta of 1.75.

Western Gas Equity Partners (NYSE:WGP) last posted its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.12). Western Gas Equity Partners had a net margin of 17.52% and a return on equity of 9.42%. The firm had revenue of $435.95 million during the quarter. On average, sell-side analysts forecast that Western Gas Equity Partners LP will post 2.3 earnings per share for the current year.

Western Gas Equity Partners Company Profile

Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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Institutional Ownership by Quarter for Western Gas Equity Partners (NYSE:WGP)

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