Barclays PLC upgraded Western Gas Equity Partners LP (NYSE:WGP) to Overweight in a report released today.
- Updated: October 10, 2016
Yesterday Western Gas Equity Partners LP (NYSE:WGP) traded 2.56% higher at $43.37. The company’s 50-day moving average is $38.57 and its 200-day moving average is $38.42. The last stock close price is up 12.44% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 97,403 shares of the stock were exchanged, down from an average trading volume of 278,663
Barclays PLC has upgraded Western Gas Equity Partners LP (NYSE:WGP) to Overweight in a report released on 10/10/2016.
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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 43.37 The company’s market cap is currently $0.
In addition to Barclays PLC reporting its target price, a total of 16 firms have reported on the stock. The consensus target price is $36.00 with 2 firms rating the stock a strong buy, 3 firms rating the stock a buy, 11 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.
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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