RBC Capital disclosed Western Gas Equity Partners (NYSE:WGP), boosting its price target to $48.00 earlier today
- Updated: October 10, 2016
Reporting a potential upside of 0.11%, RBC Capital upped the price target of Western Gas Equity Partners (NYSE:WGP) to $48.00
Boasting a price of $43.27, Western Gas Equity Partners (NYSE:WGP) traded 2.56% higher on the day. With the last close up 12.44% from the two hundred day average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time. The company has recorded a 50-day moving average of $38.57 and a 200-day moving average of $38.42. 97,403 shares of the stock were exchanged, down from an average trading volume of 278,663
See Chart Below
Western Gas Equity Partners 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.
A total of 16 equity analysts have released a ratings update on WGP. Two equity analysts rating the company a strong buy, three equity analysts rating the company a buy, eleven equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $36.00.
Brief Synopsis About Western Gas Equity Partners (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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.