Global Hunter Securities Reiterates a 'Buy' on Western Gas Partners (WES); This Level of Distribution Growth Isn't Boring
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Price: $48.92 +1.30%
Rating Summary:
14 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
14 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Global Hunter Securities reiterates a 'Buy' on Western Gas Partners (NYSE: WES) price target raised from $52 to $54.
Analystl, Bernard Colson, said, "We reiterate our rating on WES and raise our price target to $54, after the MLP reported its Q1:12 results. EBITDA and DCFPU were higher than estimated and WES raised its distribution 18% YoY, in line with our expectations. We also continue to project 18% distribution growth over the next year driven primarily by dropdowns from Anadarko (APC). However, WES also has several organic growth projects it is building that are expected to contribute to growth. We continue to believe that WES offers an attractive combination of 95% fee-based cash flow and 18% distribution growth and would be buyers despite the low 3.8% yield."
For an analyst ratings summary and ratings history on Western Gas Partners click here. For more ratings news on Western Gas Partners click here.
Shares of Western Gas Partners closed at $46.25 yesterday.
Analystl, Bernard Colson, said, "We reiterate our rating on WES and raise our price target to $54, after the MLP reported its Q1:12 results. EBITDA and DCFPU were higher than estimated and WES raised its distribution 18% YoY, in line with our expectations. We also continue to project 18% distribution growth over the next year driven primarily by dropdowns from Anadarko (APC). However, WES also has several organic growth projects it is building that are expected to contribute to growth. We continue to believe that WES offers an attractive combination of 95% fee-based cash flow and 18% distribution growth and would be buyers despite the low 3.8% yield."
For an analyst ratings summary and ratings history on Western Gas Partners click here. For more ratings news on Western Gas Partners click here.
Shares of Western Gas Partners closed at $46.25 yesterday.
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