Zacks Investment Research lowered shares of Western Gas Equity Partners, LP (NYSE:WGP) from a buy rating to a hold rating in a research note published on Saturday morning.

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. “

Several other brokerages have also recently issued reports on WGP. Royal Bank Of Canada reiterated a buy rating and set a $53.00 price target on shares of Western Gas Equity Partners, in a research report on Monday, August 21st. BidaskClub cut shares of Western Gas Equity Partners, from a sell rating to a strong sell rating in a report on Thursday, July 27th. Scotiabank restated a buy rating and issued a $51.00 price objective on shares of Western Gas Equity Partners, in a report on Wednesday, October 25th. TheStreet cut shares of Western Gas Equity Partners, from a b rating to a c+ rating in a report on Monday, October 16th. Finally, Morgan Stanley cut their price objective on shares of Western Gas Equity Partners, from $45.00 to $40.00 and set an equal weight rating on the stock in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $49.67.

Western Gas Equity Partners, (NYSE WGP) opened at $36.37 on Friday. Western Gas Equity Partners, has a 52-week low of $35.77 and a 52-week high of $47.82. The stock has a market cap of $8,142.12, a PE ratio of 22.40 and a beta of 1.55. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.91 and a quick ratio of 0.91.

Western Gas Equity Partners, (NYSE:WGP) last released its quarterly earnings data on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Western Gas Equity Partners, had a net margin of 16.96% and a return on equity of 8.99%. The firm had revenue of $574.70 million for the quarter, compared to analysts’ expectations of $530.80 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. equities research analysts expect that Western Gas Equity Partners, will post 1.67 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This story was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://theolympiareport.com/2017/11/15/western-gas-equity-partners-lp-wgp-cut-to-hold-at-zacks-investment-research.html.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 2nd will be issued a dividend of $0.5375 per share. This is a boost from Western Gas Equity Partners,’s previous quarterly dividend of $0.53. This represents a $2.15 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend is Wednesday, November 1st. Western Gas Equity Partners,’s dividend payout ratio is currently 130.30%.

Several hedge funds and other institutional investors have recently made changes to their positions in WGP. Saratoga Research & Investment Management purchased a new position in Western Gas Equity Partners, during the third quarter valued at $146,000. BNP Paribas Arbitrage SA grew its stake in Western Gas Equity Partners, by 14.7% during the second quarter. BNP Paribas Arbitrage SA now owns 3,923 shares of the pipeline company’s stock valued at $169,000 after acquiring an additional 503 shares in the last quarter. Clinton Group Inc. purchased a new position in Western Gas Equity Partners, during the second quarter valued at $201,000. Proficio Capital Partners LLC grew its stake in Western Gas Equity Partners, by 10.8% during the second quarter. Proficio Capital Partners LLC now owns 5,342 shares of the pipeline company’s stock valued at $226,000 after acquiring an additional 519 shares in the last quarter. Finally, Doliver Capital Advisors LP purchased a new position in Western Gas Equity Partners, during the second quarter valued at $241,000. 17.77% of the stock is owned by hedge funds and other institutional investors.

About Western Gas Equity Partners,

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.

Get a free copy of the Zacks research report on Western Gas Equity Partners, (WGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations 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.