Market Overview

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

Related WGP
Why Western Gas Equity Is The Best Delaware Basin Midstream Play
25 Stocks Which Rallied Four Days, Then Sold Off Yesterday
Western Gas Equity Partners beats by $0.02, beats on revenue (Seeking Alpha)

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

Oct 2016BarclaysUpgradesEqual-WeightOverweight
Oct 2016BarclaysMaintainsEqual-weight
Oct 2016Deutsche BankMaintainsHold

View More Analyst Ratings for WGP
View the Latest Analyst Ratings

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


Related Articles (WGP)

View Comments and Join the Discussion!