Western Gas Equity Partners (WGP) Set to Announce Quarterly Earnings on Tuesday

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Western Gas Equity Partners (NYSE:WGP) is scheduled to be releasing its earnings data after the market closes on Tuesday, October 30th. Analysts expect Western Gas Equity Partners to post earnings of $0.77 per share for the quarter.

Western Gas Equity Partners (NYSE:WGP) last announced its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.12). The business had revenue of $435.95 million during the quarter. Western Gas Equity Partners had a return on equity of 9.42% and a net margin of 17.52%. On average, analysts expect Western Gas Equity Partners to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Shares of Western Gas Equity Partners stock opened at $30.51 on Tuesday. The stock has a market capitalization of $6.94 billion, a P/E ratio of 17.74 and a beta of 1.75. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.48 and a quick ratio of 0.48. Western Gas Equity Partners has a 1 year low of $29.69 and a 1 year high of $42.92.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Investors of record on Wednesday, October 31st will be paid a $0.595 dividend. This is an increase from Western Gas Equity Partners’s previous quarterly dividend of $0.58. This represents a $2.38 annualized dividend and a yield of 7.80%. The ex-dividend date of this dividend is Tuesday, October 30th. Western Gas Equity Partners’s dividend payout ratio is currently 135.47%.

A hedge fund recently bought a new stake in Western Gas Equity Partners stock. Bank of New York Mellon Corp purchased a new position in shares of Western Gas Equity Partners LP (NYSE:WGP) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 25,082 shares of the pipeline company’s stock, valued at approximately $897,000. Hedge funds and other institutional investors own 21.35% of the company’s stock.

Several brokerages recently issued reports on WGP. Citigroup increased their price objective 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.23.

About Western Gas Equity Partners

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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Earnings History for Western Gas Equity Partners (NYSE:WGP)

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