Scotiabank Thinks Western Gas Eq’s Stock is Going to Recover


Scotiabank analyst Richard Roberts reiterated a Buy rating on Western Gas Eq (WGP) on November 15 and set a price target of $36. The company’s shares closed yesterday at $29.28, close to its 52-week low of $28.02.

According to TipRanks.com, Roberts is a 1-star analyst with an average return of -4.9% and a 38.1% success rate. Roberts covers the Basic Materials sector, focusing on stocks such as Holly Energy Partners LP, Andeavor Logistics LP, and Western Gas.

Currently, the analyst consensus on Western Gas Eq is a Moderate Buy with an average price target of $39.50, which is a 34.9% upside from current levels. In a report issued on November 1, Stifel Nicolaus also reiterated a Buy rating on the stock with a $39 price target.

.

See today’s analyst top recommended stocks >>

The company has a one-year high of $42.92 and a one-year low of $28.02. Currently, Western Gas Eq has an average volume of 226.6K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Western Gas Equity Partners LP operates as a master limited partnership, which aims to own three types of partnership interests in Western Gas Partners, LP and its subsidiaries (WES). WES engages in the business of gathering, processing, compressing, treating, and transporting natural gas, condensate, natural gas liquids, and crude oil for Anadarko, as well as third-party producers and customers. The company was formed in September 2012 and is headquartered in The Woodlands, TX.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts