Nuveen Asset Management LLC Sells 14,730 Shares of Western Gas Equity Partners, LP (WGP)

Nuveen Asset Management LLC decreased its stake in Western Gas Equity Partners, LP (NYSE:WGP) by 42.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,983 shares of the pipeline company’s stock after selling 14,730 shares during the period. Nuveen Asset Management LLC’s holdings in Western Gas Equity Partners, were worth $921,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Linscomb & Williams Inc. increased its position in shares of Western Gas Equity Partners, by 0.4% in the first quarter. Linscomb & Williams Inc. now owns 10,280 shares of the pipeline company’s stock worth $474,000 after buying an additional 40 shares during the last quarter. LVW Advisors LLC increased its position in shares of Western Gas Equity Partners, by 0.9% in the first quarter. LVW Advisors LLC now owns 17,300 shares of the pipeline company’s stock worth $798,000 after buying an additional 150 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in shares of Western Gas Equity Partners, by 0.4% in the first quarter. Miller Howard Investments Inc. NY now owns 48,136 shares of the pipeline company’s stock worth $2,219,000 after buying an additional 170 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Western Gas Equity Partners, by 3.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,360 shares of the pipeline company’s stock worth $478,000 after buying an additional 301 shares during the period. Finally, Level Four Advisory Services LLC boosted its position in Western Gas Equity Partners, by 9.8% in the first quarter. Level Four Advisory Services LLC now owns 6,986 shares of the pipeline company’s stock worth $325,000 after buying an additional 622 shares during the period. Institutional investors own 18.64% of the company’s stock.

Western Gas Equity Partners, LP (WGP) traded down 0.70% on Friday, hitting $39.57. The stock had a trading volume of 91,467 shares. Western Gas Equity Partners, LP has a 1-year low of $35.52 and a 1-year high of $47.82. The company has a 50-day moving average price of $41.70 and a 200-day moving average price of $43.93. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 24.34 and a beta of 1.56.

Western Gas Equity Partners, (NYSE:WGP) last released its quarterly earnings data on Tuesday, July 25th. The pipeline company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The company had revenue of $525.50 million for the quarter, compared to the consensus estimate of $505.77 million. Western Gas Equity Partners, had a return on equity of 8.78% and a net margin of 17.50%. Western Gas Equity Partners,’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. Equities analysts predict that Western Gas Equity Partners, LP will post $1.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, July 31st will be issued a dividend of $0.5275 per share. This is an increase from Western Gas Equity Partners,’s previous quarterly dividend of $0.45. This represents a $2.11 annualized dividend and a yield of 5.33%. The ex-dividend date is Thursday, July 27th. Western Gas Equity Partners,’s dividend payout ratio (DPR) is presently 129.45%.

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A number of research firms have commented on WGP. Zacks Investment Research raised shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research report on Saturday. BidaskClub raised shares of Western Gas Equity Partners, from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Scotiabank set a $51.00 target price on shares of Western Gas Equity Partners, and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank AG raised shares of Western Gas Equity Partners, from a “hold” rating to a “buy” rating and boosted their target price for the company from $50.00 to $54.00 in a research report on Thursday, July 13th. Finally, Macquarie initiated coverage on Western Gas Equity Partners, in a research note on Friday, April 21st. They issued an “outperform” rating and a $51.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $50.56.

About Western Gas Equity Partners,

Western Gas Equity Partners, LP is a limited partnership. The Company is formed to own approximately three types of partnership interests in Western Gas Partners, LP (WES). WES is an master limited partnership (MLP) engaged in the business of gathering, compressing, treating, processing and transporting natural gas, and gathering, stabilizing and transporting condensate, natural gas liquids (NGLs) and crude oil.

Institutional Ownership by Quarter for Western Gas Equity Partners, (NYSE:WGP)

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