Williams Partners LP (WPZ) Declares Quarterly Dividend of $0.60
Williams Partners LP (NYSE:WPZ) announced a quarterly dividend on Monday, October 23rd, RTT News reports. Investors of record on Friday, November 3rd will be given a dividend of 0.60 per share by the pipeline company on Friday, November 10th. This represents a $2.40 dividend on an annualized basis and a yield of 6.35%.
Williams Partners has decreased its dividend payment by an average of 0.1% per year over the last three years. Williams Partners has a dividend payout ratio of 131.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Williams Partners to earn $1.88 per share next year, which means the company may not be able to cover its $2.40 annual dividend with an expected future payout ratio of 127.7%.
Williams Partners (NYSE WPZ) traded down 1.8836% during midday trading on Monday, reaching $37.7552. 423,443 shares of the company were exchanged. The company has a market capitalization of $36.09 billion, a PE ratio of 22.7031 and a beta of 1.40. Williams Partners has a 52 week low of $32.93 and a 52 week high of $42.32. The firm has a 50-day moving average price of $39.24 and a 200-day moving average price of $39.71.
Williams Partners (NYSE:WPZ) last released its 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 firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $2.13 billion. Williams Partners had a return on equity of 5.90% and a net margin of 17.82%. Equities research analysts anticipate that Williams Partners will post $0.76 earnings per share for the current fiscal year.
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A number of equities analysts recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price target on shares of Williams Partners in a research note on Friday, July 21st. Zacks Investment Research raised Williams Partners from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, July 18th. Jefferies Group LLC raised Williams Partners from a “hold” rating to a “buy” rating and lifted their price target for the stock from $42.00 to $44.00 in a research note on Wednesday, July 12th. BMO Capital Markets set a $47.00 price target on Williams Partners and gave the stock a “buy” rating in a research note on Friday, August 18th. Finally, TheStreet cut Williams Partners from a “b-” rating to a “c+” rating in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $44.93.
In other news, Director H Brent Austin purchased 1,000 shares of Williams Partners stock in a transaction dated Friday, September 22nd. The stock was acquired at an average cost of $38.66 per share, for a total transaction of $38,660.00. Following the acquisition, the director now directly owns 9,958 shares in the company, valued at $384,976.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
About Williams Partners
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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