Williams Partners LP (NYSE:WPZ) had its target price lowered by Wells Fargo & Company from $49.00 to $45.00 in a report issued on Tuesday morning. The brokerage currently has an outperform rating on the pipeline company’s stock.
A number of other equities analysts also recently issued reports on WPZ. Jefferies Group LLC set a $42.00 price target on Williams Partners and gave the company a hold rating in a research note on Saturday, June 17th. BidaskClub downgraded Williams Partners from a hold rating to a sell rating in a research note on Wednesday, August 9th. TheStreet downgraded Williams Partners from a b- rating to a c+ rating in a research note on Monday, August 21st. Wolfe Research assumed coverage on Williams Partners in a research note on Monday, September 25th. They set an outperform rating and a $45.00 price target for the company. Finally, BMO Capital Markets set a $47.00 price target on Williams Partners and gave the company a buy rating in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Williams Partners presently has a consensus rating of Buy and an average target price of $44.93.
Williams Partners (WPZ) opened at 39.49 on Tuesday. The firm has a market capitalization of $37.74 billion, a PE ratio of 23.75 and a beta of 1.40. The company’s 50-day moving average price is $39.03 and its 200 day moving average price is $39.77. Williams Partners has a 12 month low of $32.93 and a 12 month high of $42.32.
Williams Partners (NYSE:WPZ) last released its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.13 billion. Williams Partners had a net margin of 17.82% and a return on equity of 5.90%. On average, equities research analysts predict that Williams Partners will post $0.76 earnings per share for the current year.
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In other Williams Partners news, Director H Brent Austin bought 1,000 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were purchased at an average price of $38.66 per share, for a total transaction of $38,660.00. Following the purchase, the director now directly owns 9,958 shares of the company’s stock, valued at $384,976.28. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new position in shares of Williams Partners in the 1st quarter worth approximately $105,000. Captrust Financial Advisors purchased a new position in shares of Williams Partners in the 2nd quarter worth approximately $125,000. Pathstone Family Office LLC purchased a new position in shares of Williams Partners in the 2nd quarter worth approximately $130,000. Balentine LLC boosted its stake in shares of Williams Partners by 10.6% in the 2nd quarter. Balentine LLC now owns 4,788 shares of the pipeline company’s stock worth $192,000 after buying an additional 457 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Williams Partners by 8.3% in the 2nd quarter. Penserra Capital Management LLC now owns 4,854 shares of the pipeline company’s stock worth $194,000 after buying an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 22.76% of the company’s stock.
Williams Partners Company Profile
Williams Partners L.P. is an energy infrastructure company. The Company has operations across the natural gas value chain from gathering, processing, and interstate transportation of natural gas and natural gas liquids to petchem production of ethylene, propylene, and other olefins. It operates through its Northeast G&P, Atlantic-Gulf, West segment.
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