Revenue Update on Western Gas Equity Partners LP(NYSE:WGP)

Western Gas Equity Partners LP(NYSE:WGP) 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 $440.36M. Earnings per share were $0.41. Analysts had estimated an EPS of $0.32.

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

Western Gas Equity Partners LP (WGP) made into the market gainers list on Fridays trading session with the shares advancing 0.43% or 0.16 points. Due to strong positive momentum, the stock ended at $37.36, which is also near the day’s high of $37.86. The stock began the session at $36.96 and the volume stood at 2,76,009 shares. The 52-week high of the shares is $59.69 and the 52 week low is $19.211. The company has a current market capitalization of $8,179 M and it has 21,89,22,300 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 21, 2016, Donald R. Sinclair (CEO, President & Director) sold 50,000 shares at $36.26 per share price.Also, On Jan 15, 2015, David J Tudor (director) purchased 500 shares at $51.95 per share price.

Western Gas Equity Partners LP (WGP) owns operates acquires and develops midstream energy assets. Through its subsidiary Western Gas Partners LP (WES) the Company 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. WES’s assets are located in the Rocky Mountains (Colorado Utah and Wyoming) the Mid-Continent (Kansas and Oklahoma) North-central Pennsylvania and Texas. WES’s operations and activities are managed by its general partner WES GP which is its wholly owned subsidiary. Anadarko which owns its general partner WGP GP and an 88.3% limited partner interest is an oil and gas exploration and production company.

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