Western Gas Equity Partners LP (WGP) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.32 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.27. The company posted revenue of $383.14 million in the period, 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 closed down -0.47 points or -1.16% at $39.91 with 51,052 shares getting traded on Monday. Post opening the session at $39.71, the shares hit an intraday low of $39.474 and an intraday high of $40.7493 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jan 15, 2015, David J Tudor (director) purchased 500 shares at $51.95 per share price.
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.