Western Gas Partners LP (WES) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 64

Western Gas Partners LP (WES) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 64 from a previous price target of $60 . RBC Capital Mkts advised their investors in a research report released on Oct 11, 2016.

On the company’s financial health, Western Gas Partners LP reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.40. The company had revenue of $383.10 million for the quarter, compared to analysts expectations of $413.72 million. The company’s revenue was down -12.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.26 EPS.

Western Gas Partners LP closed down -0.03 points or -0.05% at $54.62 with 2,39,469 shares getting traded on Friday. Post opening the session at $55.42, the shares hit an intraday low of $54.21 and an intraday high of $55.42 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Oct 4, 2016, James R Crane (director) sold 96,862 shares at $55.37 per share price. According to the SEC, on Sep 15, 2016, David J Tudor (director) sold 4,000 shares at $49.12 per share price. On Jun 21, 2016, Donald R. Sinclair (CEO, President & Director) sold 10,000 shares at $46.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Western Gas Partners LP (the Partnership) is a master limited partnership (MLP) that owns operates acquires and develops midstream energy assets. The Partnership 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) and its consolidated subsidiaries as well as third-party producers and customers. Anadarko is an independent oil and gas exploration and production company engaged in upstream oil and gas business and explores for and produces natural gas crude oil condensate and NGLs. The Partnership’s services include gathering stabilization compression treating and dehydration processing fractionation and storage transportation and marketing.

Western Gas Partners LP

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