The stock of Western Gas Partners, LP (NYSE:WES) hit a new 52-week high and has $83.05 target or 52.00% above today’s $54.64 share price. The 8 months bullish chart indicates low risk for the $8.05 billion company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $83.05 price target is reached, the company will be worth $4.19B 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 120,434 shares traded hands. Western Gas Partners, LP (NYSE:WES) has risen 44.21% since February 26, 2016 and is uptrending. It has outperformed by 33.79% the S&P500.
Analysts await Western Gas Partners, LP (NYSE:WES) to report earnings on October, 26. They expect $0.60 earnings per share, down 22.08% or $0.17 from last year’s $0.77 per share. WES’s profit will be $88.40 million for 22.77 P/E if the $0.60 EPS becomes a reality. After $0.55 actual earnings per share 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 11 analysts covering Western Gas Partners (NYSE:WES), 5 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 45% are positive. Western Gas Partners has been the topic of 20 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Thursday, November 5 by Citigroup. The firm earned “Hold” rating on Thursday, January 28 by Stifel Nicolaus. The rating was initiated by MUFG on Friday, June 17 with “Neutral”. The firm earned “An Overweight” rating on Thursday, January 14 by CapitalOne. The rating was maintained by Barclays Capital on Monday, November 2 with “Overweight”. Credit Suisse downgraded the shares of WES in a report on Thursday, March 17 to “Neutral” rating. The company was maintained on Thursday, April 7 by Citigroup. As per Monday, September 28, the company rating was maintained by FBR Capital. Morgan Stanley initiated the shares of WES in a report on Thursday, February 25 with “Equal-Weight” rating. The stock of Western Gas Partners, LP (NYSE:WES) has “Neutral” rating given on Tuesday, January 12 by Bank of America.
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 2016 Q2. Its down 0.45, from 1.3 in 2016Q1. The ratio turned negative, 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.
Ameriprise Inc, a Minnesota-based fund reported 9,780 shares. X Management Com Lc reported 248,298 shares or 0.63% of all its holdings. Miller Howard Invests Ny holds 0.77% or 852,451 shares in its portfolio. Evercore Wealth Ltd Liability last reported 2,000 shares in the company. Atlantic Tru Limited Liability Company owns 737,636 shares or 0.27% of their US portfolio. Evergreen Limited Liability owns 156,424 shares or 1.71% of their US portfolio. Clinton owns 51,160 shares or 0.11% of their US portfolio. Financial Svcs holds 0.03% of its portfolio in Western Gas Partners, LP (NYSE:WES) for 1,065 shares. Blackrock Advsr Limited Liability Company has invested 0.01% of its portfolio in Western Gas Partners, LP (NYSE:WES). Creative Planning last reported 94,083 shares in the company. Mai Cap Management accumulated 83,737 shares or 0.33% of the stock. Tortoise Cap Advsrs Ltd Limited Liability Company has 4.48% invested in the company for 12.71 million shares. Marquette Asset Mngmt last reported 0.81% of its portfolio in the stock. Kings Point Mgmt holds 0.01% of its portfolio in Western Gas Partners, LP (NYSE:WES) for 400 shares. Adams Asset Advsrs Ltd Liability last reported 0.24% of its portfolio in the stock.
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 Prnewswire.com published the news titled: “Western Gas Announces Acquisition And Fourth-Quarter And Full-Year 2015 Results” on February 24, 2016. Fool.com‘s news article titled: “Why 2016 Looks to be Another Great Year for Western Gas Partners” with publication date: March 25, 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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