Williams Companies Receives “Neutral” Rating from Zacks (WMB)
Williams Companies (NYSE:WMB)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Tuesday. They currently have a $60.00 price target on the stock. Zacks‘s target price suggests a potential upside of 5.84% from the company’s current price.
Zacks’ analyst wrote, “Williams Companies has spent $6.0 billion to procure full general partner (GP) ownership and 50% limited partner (LP) interest in Access Midstream Partners LP. We believe that the purchase has significantly strengthened Williams Companies’ midstream business. Backed by this acquisition, Williams Companies should be able to generate higher cash flow and hike dividend over the next several years. However, we remain worried as the company has a high debt burden, which might restrict its near-term growth prospects. Therefore, we are maintaining our Neutral recommendation on the company’s shares.”
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse upgraded shares of Williams Companies from a “focus list” rating to a “focus list” rating in a research note on Tuesday, July 8th. Separately, analysts at Howard Weil raised their price target on shares of Williams Companies from $43.00 to $68.00 in a research note on Tuesday, July 1st. They now have a “hold” rating on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Williams Companies to $63.00 in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $63.70.
In other Williams Companies news, SVP Robyn L. Ewing sold 7,592 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $55.30, for a total value of $419,837.60. The transaction was disclosed in a filing with the SEC, which is available at this link.
Williams Companies (NYSE:WMB) traded down 0.14% during mid-day trading on Tuesday, hitting $56.61. 2,052,170 shares of the company’s stock traded hands. Williams Companies has a 1-year low of $33.98 and a 1-year high of $59.68. The stock’s 50-day moving average is $57.55 and its 200-day moving average is $46.83. The company has a market cap of $42.305 billion and a P/E ratio of 106.16.
Williams Companies (NYSE:WMB) last announced its earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.01. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, analysts predict that Williams Companies will post $1.04 earnings per share for the current fiscal year.
The Williams Companies, Inc (NYSE:WMB), is an energy infrastructure company focused on connecting North America’s hydrocarbon resource plays to markets for natural gas, natural gas liquids (NGLs), and olefins.
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