Williams Partners L.P. (WPZ) Trading 2.2% Higher
Shares of Williams Partners L.P. (NYSE:WPZ) traded up 2.2% on Wednesday . The company traded as high as $38.07 and last traded at $37.53, with a volume of 400,819 shares traded. The stock had previously closed at $36.73.
A number of analysts have weighed in on the company. US Capital Advisors downgraded Williams Partners L.P. from an “overweight” rating to a “hold” rating in a report on Thursday, September 8th. Raymond James Financial Inc. downgraded Williams Partners L.P. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. Evercore Partners Inc. raised their target price on Williams Partners L.P. from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Citigroup Inc. assumed coverage on Williams Partners L.P. in a research note on Friday, July 22nd. They issued a “neutral” rating and a $40.00 target price for the company. Finally, Jefferies Group downgraded Williams Partners L.P. from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $38.60.
The company has a 50-day moving average of $37.01 and a 200-day moving average of $31.13. The stock’s market cap is $22.35 billion.
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Williams Partners L.P. (NYSE:WPZ) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.67. Williams Partners L.P. had a positive return on equity of 0.30% and a negative net margin of 25.63%. Equities analysts forecast that Williams Partners L.P. will post $0.76 earnings per share for the current year.
In related news, insider John D. Seldenrust sold 9,023 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $37.67, for a total value of $339,896.41. Following the completion of the transaction, the insider now directly owns 53,998 shares of the company’s stock, valued at $2,034,104.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
A number of institutional investors have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Williams Partners L.P. by 6.7% in the first quarter. Bessemer Group Inc. now owns 7,856 shares of the company’s stock worth $160,000 after buying an additional 491 shares during the last quarter. Cedar Wealth Management LLC acquired a new stake in shares of Williams Partners L.P. during the second quarter worth $167,000. Opera Trading Capital acquired a new stake in shares of Williams Partners L.P. during the second quarter worth $173,000. Burke & Herbert Bank & Trust Co. acquired a new stake in shares of Williams Partners L.P. during the second quarter worth $203,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Williams Partners L.P. during the second quarter worth $210,000. 36.16% of the stock is owned by institutional investors.
Williams Partners L.P. Company Profile
Williams Partners L.P., formerly Access Midstream Partners, L.P, is an energy infrastructure master limited partnership with operations across the natural gas value chain. The Company’s segments include Central, Northeast G&P, Atlantic-Gulf, West, and NGL & Petchem Services. Its Central segment provides domestic gathering, treating, and compression services to producers under long-term, fixed fee contracts.
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