Western Gas Partners (WES) Rating Increased to Buy at Bank of America

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Western Gas Partners (NYSE:WES) was upgraded by Bank of America from a “neutral” rating to a “buy” rating in a report released on Wednesday, The Fly reports.

A number of other equities research analysts also recently issued reports on WES. Citigroup lifted their price target on shares of Western Gas Partners from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Western Gas Partners from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, July 26th. Stifel Nicolaus lifted their price target on shares of Western Gas Partners from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. ValuEngine upgraded shares of Western Gas Partners from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Barclays lifted their price target on shares of Western Gas Partners from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, October 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.00.

WES stock opened at $41.07 on Wednesday. Western Gas Partners has a 12-month low of $38.35 and a 12-month high of $54.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $6.14 billion, a PE ratio of 31.59 and a beta of 1.28.

Western Gas Partners (NYSE:WES) last posted its quarterly earnings results on Tuesday, October 30th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.28). Western Gas Partners had a net margin of 24.11% and a return on equity of 12.78%. The company had revenue of $507.76 million for the quarter, compared to analyst estimates of $472.96 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. Western Gas Partners’s revenue was down 11.6% on a year-over-year basis. On average, analysts forecast that Western Gas Partners will post 1.52 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp increased its stake in shares of Western Gas Partners by 3.2% during the 2nd quarter. Northern Trust Corp now owns 40,042 shares of the pipeline company’s stock worth $1,938,000 after purchasing an additional 1,259 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Western Gas Partners by 20.4% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 8,185 shares of the pipeline company’s stock worth $396,000 after purchasing an additional 1,385 shares in the last quarter. Sonata Capital Group Inc. increased its stake in shares of Western Gas Partners by 25.3% during the 3rd quarter. Sonata Capital Group Inc. now owns 7,675 shares of the pipeline company’s stock worth $335,000 after purchasing an additional 1,550 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Western Gas Partners by 2.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 77,571 shares of the pipeline company’s stock worth $3,754,000 after purchasing an additional 1,600 shares in the last quarter. Finally, LVW Advisors LLC increased its stake in shares of Western Gas Partners by 40.1% during the 3rd quarter. LVW Advisors LLC now owns 5,850 shares of the pipeline company’s stock worth $256,000 after purchasing an additional 1,675 shares in the last quarter. 59.65% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Western Gas Partners (NYSE:WES)

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