Market Overview

UPDATE: Citigroup Initiates Western Gas Equity Partners at Buy on Attractive Total Return

Related WGP
Benzinga's Top Initiations
Mizuho Securities Initiates Western Gas Equity Partners With Neutral

Citigroup initiated coverage on Western Gas Equity Partners (NYSE: WGP) with a Buy rating and a $32.50 price target.

Citigroup commented, "We are initiating coverage on WGP with a Buy (1) as we believe investors will generate an attractive total return based on a current yield of 2.3% and our projected distribution growth of 38% over the next 12-months. Despite strong unit price appreciation post-IPO, units remain attractive given the visibility to multiple years of double digit growth that is supported by strong midstream fundamentals in liquid rich resource basins, a beneficial relationship with APC, and leveraged upside from incentive distribution rights."

Western Gas Equity Partners closed at $29.92 on Monday.

Latest Ratings for WGP

DateFirmActionFromTo
Sep 2014Mizuho SecuritiesInitiates Coverage onNeutral
Jul 2014CitigroupMaintainsNeutral
May 2014Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for WGP
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

Related Articles (WGP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters