Western Gas Equity Partners, LP (NYSE:WGP) close to 52-week high, short interest increasing

Western Gas Equity Partners, LP (NYSE:WGP) (TREND ANALYSIS) shares were traded with thin volume. The stock closed last trading session at $59.88, up by 0.45%, with a volume of 124,998 shares against an average volume for the last 3 months of 156,684.

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Western Gas Equity Partners, LP (NYSE:WGP) stock is currently trading 9.6% below its 52-week-high, 18.53% above its 52-week-low. The 1-year stock price history is in the range of $50.52 – $66.24. Western Gas Equity Partners, LP (WGP) has a price to earnings ratio of 57.58 versus Basic Materials sector average of 38.56. WGP stock price has underperformed the S&P 500 by 3%. The Oil & Gas Midstream company is currently valued at $13.11 billion and its share price closed the last trading session at $59.88. The stock has a 50-day moving average of $62.12 and a 200-day moving average of $60.96.

Western Gas Equity Partners, LP (WGP) current short interest stands at 0.84 million shares. It has increased by 11% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.21 million shares, the number of days required to cover the short positions stand at 4 days.

The company is expected to announce next quarter earnings on August 04, at consensus estimate of $0.25. Western Gas Equity Partners, LP (WGP) reported last quarter earnings on May 05. The Oil & Gas Midstream company announced earnings per share of $0.25 against a consensus Street estimate of $0.33, missing estimate by $0.08. This corresponds to an increase of $0.1 compared to the same quarter of the previous fiscal year.

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There are currently sixteen analysts that cover Western Gas Equity Partners, LP stock. Of those sixteen, eleven have a Buy rating, five have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $71.2.

A recent analyst activity consisted of JP Morgan who initiated their coverage on the stock with Overweight rating on June 19. JP Morgan fixed their price target at $76. This corresponds to a 26.92% upside from the last closing price. On the date of report, the stock closed at $59.88.

Deutsche Bank initiated their coverage on the stock with Hold rating on May 19, and fixed their price target at $67. This corresponds to a 11.89% upside from the last closing price. On the date of report, the stock closed at $63.98.

Another research firm was Citigroup who reiterated their Neutral stance on February 24. Citigroup decreased price target from $68 to $67. This translates to a 11.89% upside from the last closing price. On the date of report, the stock closed at $61.3.

Company profile

Western Gas Equity Partners, LP owns, operates, acquires, and develops oil and gas properties. The company was incorporated in 2007 and is based in The Woodlands, Texas.

Western Gas Equity Partners, LP (NYSE:WGP) close to 52-week high, short interest increasing was last modified: June 22nd, 2015 by Joe Duerr