Revenue Update on Western Gas Partners LP(NYSE:WES)

Western Gas Partners LP(NYSE:WES) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $428.66M. Analysts estimated a revenue of $438.63M. Earnings per share were $0.55. Analysts had estimated an EPS of $0.47.

In a different note, Mitsubishi UFG said it Initiates Coverage on Western Gas Partners LP, according to a research note issued on Jun 17, 2016. The shares have been rated ‘Neutral’ by the firm.

Western Gas Partners LP (WES) shares turned negative on Fridays trading session with the shares closing down -0.11 points or -0.22% at a volume of 2,64,200. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $51.27. The peak price level was also seen at $51.27 while the days lowest was $50. Finally the shares closed at $50.95. The 52-week high of the shares is $61.07 while the 52-week low is $25.4. According to the latest information available, the market cap of the company is $7,266 M.

Several Insider Transactions has been reported to the SEC. On Jul 14, 2016, James R Crane (director) sold 60,456 shares at $50.19 per share price.Also, On Jun 21, 2016, Donald R. Sinclair (CEO, President & Director) sold 10,000 shares at $46.90 per share price.On Apr 26, 2016, Darrell E Hollek (director) purchased 80 shares at $55.21 per share price, according to the Form-4 filing with the securities and exchange commission.

Western Gas Partners LP (the Partnership) is a master limited partnership (MLP) that owns operates acquires and develops midstream energy assets. The Partnership is engaged in the business of gathering processing compressing treating and transporting natural gas condensate Natural gas liquids (NGLs) and crude oil for Anadarko Petroleum Corporation (Anadarko) and its consolidated subsidiaries as well as third-party producers and customers. Anadarko is an independent oil and gas exploration and production company engaged in upstream oil and gas business and explores for and produces natural gas crude oil condensate and NGLs. The Partnership’s services include gathering stabilization compression treating and dehydration processing fractionation and storage transportation and marketing.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *