Western Gas Eq. Receives a Hold from Credit SuisseBy Ryan Adsit
Credit Suisse analyst John Edwards reiterated a Hold rating on Western Gas Eq. (NYSE: WGP) on November 3 and set a price target of $43. The company’s shares closed yesterday at $42.13, close to its 52-week high of $46.38.
According to TipRanks.com, Edwards is a 2-star analyst with an average return of 0.2% and a 47.5% success rate. Edwards covers the Basic Materials sector, focusing on stocks such as Calumet Specialty Products, Dcp Midstream Partners Lp, and EnLink Midstream Partners.
Western Gas Eq. has an analyst consensus of Moderate Buy, with a price target consensus of $52.
The company has a one year high of $46.38 and a one year low of $19.21. Currently, Western Gas Eq. has an average volume of 263.9K.
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.