Research analysts at Credit Suisse Group initiated coverage on shares of Western Gas Equity Partners (NYSE:WGP) in a research note issued to investors on Thursday, The Fly reports. The firm set a “neutral” rating and a $34.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 2.91% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Co decreased their price objective on Western Gas Equity Partners from $43.00 to $39.00 and set a “market perform” rating on the stock in a report on Monday, September 24th. Citigroup raised their price objective on Western Gas Equity Partners from $41.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Barclays raised their price objective on Western Gas Equity Partners from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, August 29th. Royal Bank of Canada decreased their price objective on Western Gas Equity Partners to $42.00 and set an “outperform” rating on the stock in a report on Thursday, October 4th. Finally, ValuEngine raised Western Gas Equity Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.77.

Shares of NYSE WGP opened at $33.04 on Thursday. The stock has a market cap of $6.56 billion, a P/E ratio of 19.21 and a beta of 1.75. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.48 and a current ratio of 0.48. Western Gas Equity Partners has a 1-year low of $29.69 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.12). The firm had revenue of $435.95 million for the quarter. Western Gas Equity Partners had a net margin of 17.52% and a return on equity of 9.42%. As a group, equities analysts expect that Western Gas Equity Partners will post 2.3 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Taylor Wealth Management Partners bought a new position in Western Gas Equity Partners during the 2nd quarter worth approximately $111,000. Baldwin Brothers Inc. MA bought a new position in Western Gas Equity Partners during the 2nd quarter worth approximately $194,000. Wetherby Asset Management Inc. bought a new position in Western Gas Equity Partners during the 2nd quarter worth approximately $215,000. Stokes Capital Advisors LLC bought a new position in Western Gas Equity Partners during the 2nd quarter worth approximately $234,000. Finally, Mariner LLC bought a new position in Western Gas Equity Partners during the 1st quarter worth approximately $260,000. Institutional investors and hedge funds own 21.44% of the company’s stock.

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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Analyst Recommendations for Western Gas Equity Partners (NYSE:WGP)

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