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Brookfield Investment Management Added a Major Position in WES

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May. 21 2018, Published 1:45 p.m. ET

Recent institutional activity 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.

WES

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Why are institutional investors bullish on WES?

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

Analysts’ recommendations

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.

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