Western Gas Equity Partners LP (WGP) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 48 from a previous price target of $44 . RBC Capital Mkts advised their investors in a research report released on Oct 11, 2016.
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.
Western Gas Equity Partners LP closed down -0.07 points or -0.17% at $42.12 with 1,60,351 shares getting traded on Friday. Post opening the session at $42.5, the shares hit an intraday low of $41.84 and an intraday high of $43.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jun 21, 2016, Donald R. Sinclair (CEO, President & Director) sold 50,000 shares at $36.26 per share price. According to the SEC, 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.