Brookfield Investment Management Added a Major Position in WES

Brookfield Investment Management added a major position of 4.3 million shares in Western Gas Partners (WES) during the first quarter. Among the top institutional holders in WES, 6.0 million positions were added.

Institutional investors’ bullishness toward WES can be attributed to the following factors:

• strong crude oil prices
• a strong distribution growth outlook
• significant expansion plans, particularly in the prolific Delaware and DJ Basins

Deutsche Bank last initiated coverage on WES with a “buy” rating. Now, 57.9% of analysts have rated WES as a “buy,” and the remaining 42.1% have rated it as a “hold.” WES’s average target price of $55.3 implies a ~5.0% upside potential from its current price level.

For more details on recent institutional activity in the top US utilities, read Institutional Investors Happy with S&P 500 Utilities, Up Stakes.