Salient Capital Advisors buys $190.2 Million stake in Western Gas Equity Partners LP (WGP)

Western Gas Equity Partners LP (WGP) : Salient Capital Advisors scooped up 299,389 additional shares in Western Gas Equity Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 4,732,412 shares of Western Gas Equity Partners LP which is valued at $190.2 Million.Western Gas Equity Partners LP makes up approximately 4.76% of Salient Capital Advisors’s portfolio.

Other Hedge Funds, Including , Cypress Wealth Advisors boosted its stake in WGP in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 22,350 shares of Western Gas Equity Partners LP which is valued at $898,470. Western Gas Equity Partners LP makes up approx 0.32% of Cypress Wealth Advisors’s portfolio.Catalyst Capital Advisors boosted its stake in WGP in the latest quarter, The investment management firm added 14,974 additional shares and now holds a total of 34,596 shares of Western Gas Equity Partners LP which is valued at $1.4 Million. Western Gas Equity Partners LP makes up approx 0.25% of Catalyst Capital Advisors’s portfolio. Hirtle Callaghan Co sold out all of its stake in WGP during the most recent quarter. The investment firm sold 2,326 shares of WGP which is valued $93,831.Yorkville Capital Management boosted its stake in WGP in the latest quarter, The investment management firm added 3,540 additional shares and now holds a total of 91,996 shares of Western Gas Equity Partners LP which is valued at $3.7 Million. Western Gas Equity Partners LP makes up approx 4.43% of Yorkville Capital Management’s portfolio. Thompson Davis added WGP to its portfolio by purchasing 699 company shares during the most recent quarter which is valued at $28,198. Western Gas Equity Partners LP makes up approx 0.04% of Thompson Davis’s portfolio.

Western Gas Equity Partners LP opened for trading at $43.23 and hit $44.815 on the upside on Friday, eventually ending the session at $44.54, with a gain of 3.08% or 1.33 points. The heightened volatility saw the trading volume jump to 1,47,301 shares. Company has a market cap of $9,751 M.

On the company’s financial health, Western Gas Equity Partners LP reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.27. The company had revenue of $383.14 million for the quarter, compared to analysts expectations of $407.02 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 $-0.19 EPS.

Many Wall Street Analysts have commented on Western Gas Equity Partners LP. Western Gas Equity Partners LP was Downgraded by Credit Suisse to ” Neutral” on Mar 17, 2016. Western Gas Equity Partners LP was Downgraded by Goldman to ” Neutral” on Mar 11, 2016. Shares were Reiterated by Barclays on Feb 29, 2016 to “Equal Weight” and Lowered the Price Target to $ 34 from a previous price target of $35 .

Western Gas Equity Partners LP (WGP) owns operates acquires and develops midstream energy assets. Through its subsidiary Western Gas Partners LP (WES) the Company 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. WES’s assets are located in the Rocky Mountains (Colorado Utah and Wyoming) the Mid-Continent (Kansas and Oklahoma) North-central Pennsylvania and Texas. WES’s operations and activities are managed by its general partner WES GP which is its wholly owned subsidiary. Anadarko which owns its general partner WGP GP and an 88.3% limited partner interest is an oil and gas exploration and production company.

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