Institutional & Family Asset Management LLC acquired a new stake in shares of Western Gas Equity Partners LP (NYSE:WGP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 37,361 shares of the pipeline company’s stock, valued at approximately $1,539,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WGP. Wetherby Asset Management Inc. boosted its holdings in shares of Western Gas Equity Partners by 11.1% during the 2nd quarter. Wetherby Asset Management Inc. now owns 6,000 shares of the pipeline company’s stock valued at $258,000 after acquiring an additional 600 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Western Gas Equity Partners by 2.0% during the 2nd quarter. Alps Advisors Inc. now owns 26,623 shares of the pipeline company’s stock valued at $1,145,000 after acquiring an additional 532 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Western Gas Equity Partners by 10.8% during the 2nd 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. Bank of New York Mellon Corp boosted its holdings in shares of Western Gas Equity Partners by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 72,002 shares of the pipeline company’s stock valued at $3,098,000 after acquiring an additional 683 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Western Gas Equity Partners by 14.7% during the 2nd 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. 18.39% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on WGP shares. Zacks Investment Research downgraded Western Gas Equity Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. Royal Bank of Canada reissued a “buy” rating and set a $53.00 price objective on shares of Western Gas Equity Partners in a report on Monday, August 21st. Morgan Stanley cut their price objective on 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. Scotiabank reissued a “buy” rating and set a $51.00 price objective on shares of Western Gas Equity Partners in a report on Wednesday, October 25th. Finally, BidaskClub raised Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.67.

Shares of Western Gas Equity Partners LP (WGP) traded up $0.06 during trading hours on Friday, reaching $36.84. The company had a trading volume of 211,000 shares, compared to its average volume of 158,596. The company has a market cap of $8,052.36, a price-to-earnings ratio of 22.16 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 0.91. Western Gas Equity Partners LP has a twelve month low of $33.92 and a twelve month high of $47.82.

Western Gas Equity Partners (NYSE:WGP) last announced its earnings results on Tuesday, October 31st. The pipeline company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. The business had revenue of $574.70 million during the quarter, compared to analyst estimates of $530.80 million. Western Gas Equity Partners had a return on equity of 8.99% and a net margin of 16.96%. Western Gas Equity Partners’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. equities analysts anticipate that Western Gas Equity Partners LP will post 1.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Thursday, November 2nd were given a dividend of $0.5375 per share. This is a positive change from Western Gas Equity Partners’s previous quarterly dividend of $0.53. This represents a $2.15 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend was Wednesday, November 1st. Western Gas Equity Partners’s dividend payout ratio (DPR) is currently 130.30%.

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Western Gas Equity Partners 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.

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

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