Ballentine Partners LLC Buys New Holdings in Western Gas Partners, LP (WES)

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Ballentine Partners LLC bought a new stake in Western Gas Partners, LP (NYSE:WES) during the third quarter, Holdings Channel reports. The institutional investor bought 7,185 shares of the pipeline company’s stock, valued at approximately $314,000.

Other large investors also recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Western Gas Partners in the second quarter valued at approximately $187,000. LVW Advisors LLC acquired a new position in shares of Western Gas Partners in the second quarter valued at approximately $202,000. Whittier Trust Co. acquired a new position in Western Gas Partners during the third quarter worth $183,000. Penn Davis Mcfarland Inc. acquired a new position in Western Gas Partners during the second quarter worth $266,000. Finally, Parkside Financial Bank & Trust acquired a new position in Western Gas Partners during the third quarter worth $252,000. 59.24% of the stock is currently owned by institutional investors and hedge funds.

Western Gas Partners stock opened at $40.76 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 31.35 and a beta of 1.30. Western Gas Partners, LP has a fifty-two week low of $39.57 and a fifty-two week high of $54.40.

Western Gas Partners (NYSE:WES) last posted its earnings results on Tuesday, October 30th. The pipeline company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.28). The firm had revenue of $507.76 million during the quarter, compared to analyst estimates of $472.96 million. Western Gas Partners had a net margin of 22.80% and a return on equity of 12.18%. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. Equities analysts predict that Western Gas Partners, LP will post 1.83 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Shareholders of record on Wednesday, October 31st will be issued a $0.965 dividend. This is a positive change from Western Gas Partners’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $3.86 annualized dividend and a yield of 9.47%. Western Gas Partners’s dividend payout ratio is 292.31%.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Western Gas Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday. Barclays upped their price objective on Western Gas Partners from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 29th. Stifel Nicolaus upped their price objective on Western Gas Partners from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. ValuEngine raised Western Gas Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Credit Suisse Group assumed coverage on Western Gas Partners in a report on Thursday, October 11th. They set a “neutral” rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $53.57.

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

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