Investors Buy Western Gas Partners (WES) on Weakness
Investors purchased shares of Western Gas Partners, LP (NYSE:WES) on weakness during trading hours on Friday. $101.80 million flowed into the stock on the tick-up and $11.54 million flowed out of the stock on the tick-down, for a money net flow of $90.26 million into the stock. Of all stocks tracked, Western Gas Partners had the 7th highest net in-flow for the day. Western Gas Partners traded down ($0.07) for the day and closed at $52.36
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Western Gas Partners from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, July 26th. ValuEngine raised shares of Western Gas Partners from a “hold” rating to a “buy” rating in a report on Friday. TheStreet raised shares of Western Gas Partners from a “c+” rating to a “b-” rating in a report on Wednesday, May 23rd. Deutsche Bank began coverage on shares of Western Gas Partners in a report on Thursday, April 19th. They issued a “buy” rating and a $53.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of Western Gas Partners from $62.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $54.77.
The stock has a market capitalization of $8.00 billion, a PE ratio of 63.17, a P/E/G ratio of 4.30 and a beta of 1.31. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.13.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 13th. Shareholders of record on Wednesday, August 1st will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date of this dividend is Tuesday, July 31st. This is a positive change from Western Gas Partners’s previous quarterly dividend of $0.94. Western Gas Partners’s dividend payout ratio is presently 292.31%.
Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in shares of Western Gas Partners by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 28,692 shares of the pipeline company’s stock worth $1,380,000 after acquiring an additional 1,981 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Western Gas Partners by 40.3% during the 4th quarter. Guggenheim Capital LLC now owns 34,596 shares of the pipeline company’s stock worth $1,664,000 after acquiring an additional 9,945 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Western Gas Partners during the 4th quarter worth approximately $204,000. Global X Management Co. LLC boosted its position in shares of Western Gas Partners by 12.1% during the 1st quarter. Global X Management Co. LLC now owns 868,373 shares of the pipeline company’s stock worth $37,053,000 after acquiring an additional 94,021 shares in the last quarter. Finally, Albert D Mason Inc. acquired a new stake in shares of Western Gas Partners during the 1st quarter worth approximately $737,000. Hedge funds and other institutional investors own 60.04% of the company’s stock.
About Western Gas Partners
Western Gas Partners LP engages in the owning, operating, acquiring, and developing of midstream energy assets. It involves in the gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil. The company was founded in August 2007 and is headquartered in The Woodlands, TX.
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