The stock of Western Gas Partners, LP (NYSE:WES) hit a new 52-week high and has $87.71 target or 55.00% above today’s $56.59 share price. The 6 months bullish chart indicates low risk for the $8.31B company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $87.71 price target is reached, the company will be worth $4.57B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 30,943 shares traded hands. Western Gas Partners, LP (NYSE:WES) has risen 37.59% since March 14, 2016 and is uptrending. It has outperformed by 31.98% the S&P500.
Analysts await Western Gas Partners, LP (NYSE:WES) to report earnings on October, 26. They expect $0.60 EPS, down 22.08% or $0.17 from last year’s $0.77 per share. WES’s profit will be $88.11M for 23.58 P/E if the $0.60 EPS becomes a reality. After $0.55 actual EPS reported by Western Gas Partners, LP for the previous quarter, Wall Street now forecasts 9.09% EPS growth.
Western Gas Partners, LP (NYSE:WES) Ratings Coverage
Out of 13 analysts covering Western Gas Partners (NYSE:WES), 7 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 54% are positive. $76 is the highest target while $35 is the lowest. The $59.33 average target is 4.84% above today’s ($56.59) stock price. Western Gas Partners has been the topic of 22 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, March 30 by JP Morgan. The firm has “Outperform” rating given on Tuesday, October 11 by RBC Capital Markets. The firm earned “Buy” rating on Friday, July 31 by MLV. The firm has “Overweight” rating given on Monday, October 10 by . The rating was initiated by CapitalOne with “An Overweight” on Thursday, January 14. On Thursday, April 7 the stock rating was maintained by Citigroup with “Neutral”. The company was maintained on Monday, November 2 by Barclays Capital. The stock of Western Gas Partners, LP (NYSE:WES) earned “Outperform” rating by FBR Capital on Monday, September 28. The firm earned “Neutral” rating on Thursday, March 17 by Credit Suisse. Bank of America downgraded the shares of WES in a report on Tuesday, January 12 to “Neutral” rating.
According to Zacks Investment Research, “WESTERN GAS PARTNERS is a growth-oriented Delaware limited partnership formed by Anadarko Petroleum Corporation to own, operate, acquire and develop midstream energy assets.”
Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.45, from 1.3 in 2016Q1. The ratio worsened, as 19 funds sold all Western Gas Partners, LP shares owned while 53 reduced positions. 14 funds bought stakes while 47 increased positions. They now own 66.74 million shares or 2.90% less from 68.74 million shares in 2016Q1.
Moreover, Rockefeller Service Inc has 0.04% invested in Western Gas Partners, LP (NYSE:WES) for 41,481 shares. Janney Montgomery Scott Limited Liability Com holds 22,250 shares or 0.02% of its portfolio. The Tennessee-based Chickasaw Capital Management Ltd Liability has invested 2.83% in Western Gas Partners, LP (NYSE:WES). Bank & Trust Of New York Mellon Corporation last reported 54,371 shares in the company. Tower Capital Ltd Liability (Trc) last reported 190 shares in the company. Virtu Fin Ltd holds 30,225 shares or 0.2% of its portfolio. Metropolitan Life Insurance Ny has 188,851 shares for 0.07% of their US portfolio. Cullen Frost Bankers has invested 0.03% of its portfolio in Western Gas Partners, LP (NYSE:WES). Reilly Fin Advsrs Limited Com last reported 100 shares in the company. Stifel Financial Corp holds 0.01% of its portfolio in Western Gas Partners, LP (NYSE:WES) for 52,172 shares. Moody Bancorp Tru Division holds 12,100 shares or 0.03% of its portfolio. Deutsche Bancorp Ag holds 0.01% or 323,631 shares in its portfolio. Chilton Limited Liability Co owns 49,747 shares or 0.24% of their US portfolio. Barnett Incorporated, a Tennessee-based fund reported 16,475 shares. Creative Planning holds 94,083 shares or 0.03% of its portfolio.
More recent Western Gas Partners, LP (NYSE:WES) news were published by: Prnewswire.com which released: “Western Gas Partners Announces New Long-Term Agreements In Delaware Basin” on September 27, 2016. Also Moodys.com published the news titled: “Moody’s rates new Western Gas notes Ba1” on October 06, 2016. Prnewswire.com‘s news article titled: “Western Gas Partners Announces Pricing Of $200 Million Of Senior Notes” with publication date: October 06, 2016 was also an interesting one.
WES Company Profile
Western Gas Partners, LP, incorporated on August 21, 2007, is a master limited partnership (MLP) that acquires, owns, develops and operates midstream energy assets. The Firm is engaged in the business of gathering, processing, compressing, treating and transporting natural gas, condensate, natural gas liquids (NGLs) and crude oil for Anadarko Petroleum Corporation (Anadarko), as well as third-party producers and customers. The Firm operates in the segment of gathering, processing, compressing, treating and transporting Anadarko and third-party natural gas, condensate, NGLs and crude oil in the United States. The Company’s activities and activities are managed by its general partner, which is indirectly controlled by Anadarko through Western Gas Equity Partners, LP (WGP).
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