Western Gas Eq. Receives a Buy from BarclaysBy Carrie Williams
Barclays analyst Heejung Ryoo maintained a Buy rating on Western Gas Eq. (NYSE: WGP) yesterday and set a price target of $52. The company’s shares closed yesterday at $42.13, close to its 52-week high of $46.38.
According to TipRanks.com, Ryoo is a 4-star analyst with an average return of 10.5% and a 63.0% success rate. Ryoo covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners Lp, Antero Midstream Partners, and Targa Resources Corp.
Western Gas Eq. has an analyst consensus of Moderate Buy, with a price target consensus of $52.
Based on Western Gas Eq.’s latest earnings report from September 30, the company posted quarterly revenue of $481.6M and quarterly net profit of $274.2M. In comparison, last year the company earned revenue of $385.1M and had a net profit of $264.9M.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2016, Thomas Hix, a Director at WGP bought 1,447 shares for a total of $58,169.
Western Gas Equity Partners LP owns, operates, acquires and develops midstream energy assets. The company has no operations other than its ownership of these interests in Western Gas Partners. Western Gas Equity Partners was founded in September 2012 and is headquartered in The Woodlands, TX.