Williams Partners L.P. to Post Q3 2016 Earnings of $0.46 Per Share, Jefferies Group Forecasts (WPZ)
Williams Partners L.P. (NYSE:WPZ) – Investment analysts at Jefferies Group increased their Q3 2016 earnings per share estimates for Williams Partners L.P. in a report issued on Thursday. Jefferies Group analyst C. Sighinolfi now forecasts that the firm will earn $0.46 per share for the quarter, up from their previous estimate of $0.11. Jefferies Group currently has a “Hold” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Williams Partners L.P.’s FY2017 earnings at $1.31 EPS.
Williams Partners L.P. (NYSE:WPZ) last released its quarterly earnings data 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 negative net margin of 25.63% and a positive return on equity of 0.30%.
A number of other research firms have also weighed in on WPZ. Stephens began coverage on shares of Williams Partners L.P. in a research report on Thursday, September 29th. They set an “overweight” rating and a $43.00 price target on the stock. US Capital Advisors lowered shares of Williams Partners L.P. from an “overweight” rating to a “hold” rating in a research report on Thursday, September 8th. Raymond James Financial Inc. lowered shares of Williams Partners L.P. from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. Evercore Partners Inc. boosted their target price on shares of Williams Partners L.P. from $35.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Finally, Citigroup Inc. began coverage on shares of Williams Partners L.P. in a report on Friday, July 22nd. They issued a “neutral” rating and a $40.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.00.
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Williams Partners L.P. (NYSE:WPZ) opened at 36.19 on Monday. Williams Partners L.P. has a 1-year low of $12.69 and a 1-year high of $40.36. The company’s market capitalization is $21.31 billion. The stock’s 50 day moving average is $37.39 and its 200-day moving average is $33.15.
In related news, insider John D. Seldenrust sold 9,023 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $37.67, for a total transaction of $339,896.41. Following the sale, the insider now directly owns 53,998 shares of the company’s stock, valued at approximately $2,034,104.66. The sale was disclosed in a legal filing with the SEC, which is available through this link.
A number of hedge funds and other institutional investors have recently bought and sold shares of WPZ. Renaissance Technologies LLC purchased a new position in Williams Partners L.P. during the first quarter valued at approximately $43,289,000. Harvest Fund Advisors LLC boosted its position in Williams Partners L.P. by 19.0% in the first quarter. Harvest Fund Advisors LLC now owns 6,537,860 shares of the company’s stock valued at $133,699,000 after buying an additional 1,044,910 shares during the period. Spirit of America Management Corp NY boosted its position in Williams Partners L.P. by 24.1% in the third quarter. Spirit of America Management Corp NY now owns 330,417 shares of the company’s stock valued at $12,288,000 after buying an additional 64,230 shares during the period. Stephens Inc. AR boosted its position in Williams Partners L.P. by 1.3% in the second quarter. Stephens Inc. AR now owns 26,135 shares of the company’s stock valued at $905,000 after buying an additional 325 shares during the period. Finally, First Republic Investment Management Inc. purchased a new position in Williams Partners L.P. during the first quarter valued at approximately $736,000. Institutional investors own 36.16% of the company’s stock.
About Williams Partners L.P.
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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