Neuberger Berman Group LLC increased its stake in shares of Western Gas Equity Partners, LP (NYSE:WGP) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,193,080 shares of the pipeline company’s stock after buying an additional 458,259 shares during the period. Western Gas Equity Partners, comprises approximately 0.6% of Neuberger Berman Group LLC’s investment portfolio, making the stock its 18th largest position. Neuberger Berman Group LLC owned about 5.11% of Western Gas Equity Partners, worth $481,526,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its stake in Western Gas Equity Partners, by 3.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,360 shares of the pipeline company’s stock valued at $478,000 after buying an additional 301 shares during the last quarter. Infrastructure Capital Advisors LLC increased its stake in Western Gas Equity Partners, by 99.5% in the first quarter. Infrastructure Capital Advisors LLC now owns 77,091 shares of the pipeline company’s stock valued at $3,554,000 after buying an additional 38,453 shares during the last quarter. Friedberg Investment Management increased its stake in Western Gas Equity Partners, by 129.5% in the first quarter. Friedberg Investment Management now owns 16,180 shares of the pipeline company’s stock valued at $745,000 after buying an additional 9,130 shares during the last quarter. Keybank National Association OH increased its stake in Western Gas Equity Partners, by 7.8% in the first quarter. Keybank National Association OH now owns 8,645 shares of the pipeline company’s stock valued at $399,000 after buying an additional 625 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in Western Gas Equity Partners, by 28.5% in the first quarter. Catalyst Capital Advisors LLC now owns 139,407 shares of the pipeline company’s stock valued at $6,427,000 after buying an additional 30,952 shares during the last quarter. Institutional investors own 18.64% of the company’s stock.

Western Gas Equity Partners, LP (NYSE:WGP) traded up 0.32% during trading on Friday, reaching $40.52. 74,588 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $41.29 and a 200-day moving average of $43.74. The stock has a market cap of $8.87 billion, a PE ratio of 24.92 and a beta of 1.56. Western Gas Equity Partners, LP has a 12 month low of $35.81 and a 12 month high of $47.82.

Western Gas Equity Partners, (NYSE:WGP) last announced its earnings results on Tuesday, July 25th. The pipeline company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Western Gas Equity Partners, had a return on equity of 8.78% and a net margin of 17.50%. The company had revenue of $525.50 million for the quarter, compared to analyst estimates of $505.77 million. During the same period in the prior year, the company posted $0.41 EPS. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, equities research analysts anticipate that Western Gas Equity Partners, LP will post $1.62 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, July 31st were given a dividend of $0.5275 per share. This is a positive change from Western Gas Equity Partners,’s previous quarterly dividend of $0.45. This represents a $2.11 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Thursday, July 27th. Western Gas Equity Partners,’s dividend payout ratio is currently 129.45%.

ILLEGAL ACTIVITY WARNING: This report was first reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://theolympiareport.com/2017/08/27/western-gas-equity-partners-lp-wgp-shares-bought-by-neuberger-berman-group-llc.html.

Several analysts recently issued reports on WGP shares. Deutsche Bank AG raised shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and lifted their price target for the company from $50.00 to $54.00 in a research report on Thursday, July 13th. Scotiabank set a $51.00 price target on shares of Western Gas Equity Partners, and gave the company a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Thursday, July 20th. Royal Bank Of Canada reissued a “buy” rating and issued a $53.00 price target on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. Finally, BidaskClub raised shares of Western Gas Equity Partners, from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $50.56.

Western Gas Equity Partners, Company Profile

Western Gas Equity Partners, LP is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil.

Want to see what other hedge funds are holding WGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Gas Equity Partners, LP (NYSE:WGP).

Institutional Ownership by Quarter for Western Gas Equity Partners, (NYSE:WGP)

Receive News & Ratings for Western Gas Equity Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Gas Equity Partners LP and related companies with Analyst Ratings Network's FREE daily email newsletter.