The Zacks Investment Research Downgrades Western Gas Equity Partners, LP (WGP) to Sell

The Zacks Investment Research Downgrades Western Gas Equity Partners, LP (WGP) to Sell

Western Gas Equity Partners, LP (NYSE:WGP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Western Gas Equity Partners, LP is formed to own, operate, acquire and develop midstream energy assets. Western Gas Equity Partners, LP is based in The Woodlands, Texas. “

WGP has been the topic of several other research reports. Deutsche Bank AG reissued a “hold” rating and set a $44.00 target price on shares of Western Gas Equity Partners, in a research report on Thursday, October 6th. Royal Bank Of Canada boosted their target price on Western Gas Equity Partners, from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, October 11th. RBC Capital Markets restated a “buy” rating and set a $48.00 price objective on shares of Western Gas Equity Partners, in a report on Friday, January 6th. Barclays PLC upgraded Western Gas Equity Partners, from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $48.00 to $52.00 in a report on Monday, October 10th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $43.00 price objective on shares of Western Gas Equity Partners, in a report on Tuesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $41.77.

Western Gas Equity Partners, (NYSE:WGP) opened at 44.53 on Tuesday. The company has a market capitalization of $9.75 billion, a P/E ratio of 44.31 and a beta of 1.59. Western Gas Equity Partners, has a one year low of $19.21 and a one year high of $46.38. The stock’s 50 day moving average price is $42.90 and its 200 day moving average price is $40.53.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 22nd. Investors of record on Thursday, February 2nd will be paid a dividend of $0.4625 per share. This is a boost from Western Gas Equity Partners,’s previous quarterly dividend of $0.45. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Tuesday, January 31st. Western Gas Equity Partners,’s dividend payout ratio is 177.23%.

Several large investors have recently modified their holdings of WGP. US Bancorp DE boosted its stake in shares of Western Gas Equity Partners, by 5.6% in the second quarter. US Bancorp DE now owns 3,167 shares of the company’s stock worth $121,000 after buying an additional 167 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Western Gas Equity Partners, during the second quarter worth $161,000. Sterling Capital Management LLC bought a new stake in shares of Western Gas Equity Partners, during the second quarter worth $229,000. Jane Street Group LLC bought a new stake in shares of Western Gas Equity Partners, during the second quarter worth $245,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Western Gas Equity Partners, during the third quarter worth $262,000. Hedge funds and other institutional investors own 19.01% of the company’s stock.

About Western Gas Equity Partners,

Western Gas Equity Partners, LP (WGP) is a limited partnership formed in to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES owns, operates, acquires and develops midstream energy assets. Through its subsidiary WES, the Company is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil for Anadarko Petroleum Corporation (Anadarko).

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