BP Capital Fund Advisors LLC decreased its holdings in Western Gas Partners LP (NYSE:WES) by 54.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,539 shares of the pipeline company’s stock after selling 73,551 shares during the period. BP Capital Fund Advisors LLC’s holdings in Western Gas Partners were worth $2,626,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in Western Gas Partners in the fourth quarter worth $204,000. Lucas Capital Management purchased a new stake in Western Gas Partners in the fourth quarter worth $206,000. Frontier Investment Mgmt Co. purchased a new stake in Western Gas Partners in the fourth quarter worth $231,000. First Capital Advisors Group LLC. purchased a new stake in Western Gas Partners in the fourth quarter worth $231,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Western Gas Partners in the fourth quarter worth $250,000. Institutional investors and hedge funds own 59.19% of the company’s stock.
Shares of Western Gas Partners opened at $52.27 on Friday, according to MarketBeat.com. Western Gas Partners LP has a fifty-two week low of $40.44 and a fifty-two week high of $57.15. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 40.21, a price-to-earnings-growth ratio of 3.91 and a beta of 1.10. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.53 and a quick ratio of 1.53.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Wednesday, May 2nd were paid a $0.935 dividend. This represents a $3.74 annualized dividend and a dividend yield of 7.16%. This is a boost from Western Gas Partners’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, May 1st. Western Gas Partners’s dividend payout ratio (DPR) is presently 287.69%.
A number of research firms have recently issued reports on WES. Zacks Investment Research downgraded Western Gas Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. Scotiabank reissued a “hold” rating and set a $58.00 price target on shares of Western Gas Partners in a research report on Monday, January 29th. Stifel Nicolaus set a $62.00 price target on Western Gas Partners and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Barclays dropped their price target on Western Gas Partners from $53.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 17th. Finally, JPMorgan Chase reissued an “overweight” rating and set a $59.00 price target (up previously from $57.00) on shares of Western Gas Partners in a research report on Wednesday, March 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.85.
About Western Gas Partners
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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