A statement released earlier today by Zacks Investment Research about Western Gas Equity Partners LP (NYSE:WGP) bumps the target price to $48.00
- Updated: October 11, 2016
Zacks Investment Research raised the target price of Western Gas Equity Partners LP (NYSE:WGP) to $48.00 reporting a possible upside of 0.13%.
Yesterday Western Gas Equity Partners LP (NYSE:WGP) traded -1.73% lower at $42.38. The company’s 50-day moving average is $38.77 and its 200-day moving average is $38.59. The last stock close price is up 10.19% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 467,855 shares of the stock were exchanged, up from an average trading volume of 278,048
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Western Gas Equity Partners LP has a 52 week low of $19.21 and a 52 week high of $46.58 with a P/E ratio of 42.69 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 16 firms have reported on the stock. The consensus target price is $36.00 with 2 brokers rating the stock a strong buy, 3 brokers rating the stock a buy, 11 brokers rating the stock a hold, one equity analyst rating the company a underperform, and lastly zero equity analysts rating the company a sell.
Brief Synopsis About Western Gas Equity Partners LP (NYSE:WGP)
Western Gas Equity Partners, LP (WGP) is a limited partnership formed in to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES owns, operates, acquires and develops midstream energy assets. Through its subsidiary 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). The types of partnership interests owned by WGP include the general partner interest in WES, held through Western Gas Holdings, LLC (WES GP); the incentive distribution rights (IDRs) in WES, which entitle WGP to receive increasing percentages, till approximately 48%, of any incremental cash distributed by WES as certain target distribution levels are reached in any quarter, and a limited partner interest in WES. WES's assets are located in the Rocky Mountains, the Mid-Continent, North-central Pennsylvania and Texas.
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