Shares of Western Gas Equity (NYSE:WGP) have received an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $42.60.
A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Western Gas Equity from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Credit Suisse Group began coverage on Western Gas Equity in a research note on Thursday, January 4th. They set an “outperform” rating and a $49.00 price target for the company. Bank of America began coverage on Western Gas Equity in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. UBS raised Western Gas Equity from a “neutral” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Wednesday, January 3rd. Finally, Barclays lowered Western Gas Equity from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $51.00 to $45.00 in a research note on Wednesday, January 17th.
NYSE WGP traded up $0.20 on Friday, hitting $34.38. 90,283 shares of the stock traded hands, compared to its average volume of 218,364. Western Gas Equity has a twelve month low of $31.63 and a twelve month high of $46.47. The stock has a market capitalization of $7,494.08, a P/E ratio of 19.90 and a beta of 1.53. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.89.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Stockholders of record on Wednesday, May 2nd will be issued a $0.569 dividend. The ex-dividend date of this dividend is Tuesday, May 1st. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.62%. This is a positive change from Western Gas Equity’s previous quarterly dividend of $0.55. Western Gas Equity’s dividend payout ratio is presently 127.33%.
Several large investors have recently made changes to their positions in the stock. Icon Wealth Partners LLC acquired a new position in Western Gas Equity during the fourth quarter worth $119,000. Captrust Financial Advisors acquired a new position in Western Gas Equity during the fourth quarter worth $120,000. Stuart Chaussee & Associates Inc. acquired a new position in Western Gas Equity during the fourth quarter worth $132,000. Chilton Capital Management LLC acquired a new position in Western Gas Equity during the fourth quarter worth $259,000. Finally, MHI Funds LLC acquired a new position in Western Gas Equity during the fourth quarter worth $290,000. Institutional investors and hedge funds own 17.88% of the company’s stock.
Western Gas Equity 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.
Receive News & Ratings for Western Gas Equity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Gas Equity and related companies with MarketBeat.com's FREE daily email newsletter.