Spirit Of America Management Corpny buys $18,642,297 stake in Western Gas Partners LP (WES)

Western Gas Partners LP (WES) : Spirit Of America Management Corpny scooped up 58,750 additional shares in Western Gas Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 330,069 shares of Western Gas Partners LP which is valued at $18,642,297.Western Gas Partners LP makes up approximately 2.47% of Spirit Of America Management Corpny’s portfolio.

Other Hedge Funds, Including , Creative Planning boosted its stake in WES in the latest quarter, The investment management firm added 35,503 additional shares and now holds a total of 129,586 shares of Western Gas Partners LP which is valued at $7,063,733. Western Gas Partners LP makes up approx 0.05% of Creative Planning’s portfolio.Cutler Group Lp reduced its stake in WES by selling 2,887 shares or 13.08% in the most recent quarter. The Hedge Fund company now holds 19,181 shares of WES which is valued at $1,056,298. Western Gas Partners LP makes up approx 0.06% of Cutler Group Lp’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in WES by selling 4,498 shares or 39.54% in the most recent quarter. The Hedge Fund company now holds 6,877 shares of WES which is valued at $382,361.

Western Gas Partners LP opened for trading at $56 and hit $56.65 on the upside on Friday, eventually ending the session at $56.48, with a gain of 1.18% or 0.66 points. The heightened volatility saw the trading volume jump to 2,38,798 shares. Company has a market cap of $8,055 M.

On the company’s financial health, Western Gas Partners LP reported $0.31 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $0.40. The company had revenue of $383.10 million for the quarter, compared to analysts expectations of $413.72 million. The company’s revenue was down -12.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.26 EPS.

Many Wall Street Analysts have commented on Western Gas Partners LP. Company shares were Reiterated by RBC Capital Mkts on Oct 11, 2016 to “Outperform”, Firm has raised the Price Target to $ 64 from a previous price target of $60 .

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.

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