Kayne Anderson Capital Advisors LP cut its stake in Western Gas Equity Partners LP (NYSE:WGP) by 16.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,405 shares of the pipeline company’s stock after selling 31,375 shares during the quarter. Kayne Anderson Capital Advisors LP owned about 0.07% of Western Gas Equity Partners worth $5,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of WGP. Taylor Wealth Management Partners bought a new position in Western Gas Equity Partners in the 2nd quarter worth $111,000. Baldwin Brothers Inc. MA bought a new position in Western Gas Equity Partners in the 2nd quarter worth $194,000. Oxbow Advisors LLC purchased a new stake in shares of Western Gas Equity Partners in the 1st quarter worth about $202,000. Wetherby Asset Management Inc. purchased a new stake in shares of Western Gas Equity Partners in the 2nd quarter worth about $215,000. Finally, First Republic Investment Management Inc. purchased a new stake in shares of Western Gas Equity Partners in the 1st quarter worth about $223,000. Institutional investors and hedge funds own 19.22% of the company’s stock.

WGP has been the topic of a number of recent research reports. Zacks Investment Research downgraded shares of Western Gas Equity Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 17th. Deutsche Bank initiated coverage on shares of Western Gas Equity Partners in a research report on Thursday, April 19th. They issued a “buy” rating and a $38.00 target price on the stock. ValuEngine downgraded shares of Western Gas Equity Partners from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Bank of America upped their target price on shares of Western Gas Equity Partners from $35.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 5th. Finally, Barclays reduced their target price on shares of Western Gas Equity Partners from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $42.36.

NYSE:WGP opened at $35.79 on Friday. The stock has a market capitalization of $7.94 billion, a PE ratio of 20.81 and a beta of 1.70. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14. Western Gas Equity Partners LP has a 1-year low of $31.63 and a 1-year high of $42.92.

Western Gas Equity Partners (NYSE:WGP) last announced its quarterly earnings data on Tuesday, July 31st. The pipeline company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.12). Western Gas Equity Partners had a net margin of 17.52% and a return on equity of 9.42%. The firm had revenue of $435.95 million for the quarter. analysts forecast that Western Gas Equity Partners LP will post 1.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 23rd. Investors of record on Wednesday, August 1st will be given a dividend of $0.582 per share. This represents a $2.33 annualized dividend and a yield of 6.50%. This is an increase from Western Gas Equity Partners’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, July 31st. Western Gas Equity Partners’s dividend payout ratio is 135.47%.

About Western Gas Equity Partners

Western Gas Equity Partners, LP, together with its subsidiaries, engages in the gathering, processing, compressing, treating, stabilizing, and transporting natural gas, condensate, natural gas liquids, and crude oil primarily in the United States. It is also involved in the gathering and disposing of produced water; and buying and selling of natural gas.

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

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