Bank of Nova Scotia Trims Stock Holdings in Williams Companies, Inc. (The) $WMB

Bank of Nova Scotia lessened its position in shares of Williams Companies, Inc. (The) (NYSE:WMB) by 23.0% during the 2nd quarter, Holdings Channel reports. The firm owned 576,024 shares of the pipeline company’s stock after selling 171,637 shares during the quarter. Bank of Nova Scotia’s holdings in Williams Companies were worth $36,180,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of WMB. Flaharty Asset Management LLC acquired a new stake in shares of Williams Companies during the first quarter worth about $25,000. Hartford Funds Management Co LLC acquired a new position in Williams Companies in the 2nd quarter worth approximately $29,000. Private Wealth Management Group LLC raised its position in Williams Companies by 104.8% during the 2nd quarter. Private Wealth Management Group LLC now owns 469 shares of the pipeline company’s stock worth $29,000 after buying an additional 240 shares during the last quarter. Saudi Central Bank acquired a new stake in Williams Companies during the 1st quarter valued at approximately $29,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Williams Companies in the 2nd quarter valued at $32,000. 86.44% of the stock is owned by institutional investors and hedge funds.

Williams Companies Stock Performance

WMB opened at $61.92 on Tuesday. The firm’s fifty day simple moving average is $60.78 and its two-hundred day simple moving average is $59.68. Williams Companies, Inc. has a 52-week low of $51.58 and a 52-week high of $65.55. The company has a market cap of $75.62 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 1.68 and a beta of 0.62. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 1.73.

Williams Companies (NYSE:WMB) last released its quarterly earnings results on Monday, November 3rd. The pipeline company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.87 billion. Williams Companies had a return on equity of 16.74% and a net margin of 20.61%.The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. Williams Companies has set its FY 2025 guidance at 2.010-2.190 EPS. Equities analysts anticipate that Williams Companies, Inc. will post 2.08 earnings per share for the current fiscal year.

Williams Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Friday, December 12th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, December 12th. Williams Companies’s dividend payout ratio (DPR) is 103.09%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WMB shares. Zacks Research lowered shares of Williams Companies from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Morgan Stanley increased their price target on Williams Companies from $70.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Citigroup boosted their price objective on Williams Companies from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Barclays upped their target price on Williams Companies from $65.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Finally, Argus reissued a “buy” rating and issued a $66.00 price target on shares of Williams Companies in a report on Thursday, August 14th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Williams Companies presently has an average rating of “Moderate Buy” and a consensus target price of $68.21.

Insider Activity

In related news, SVP Terrance Lane Wilson sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $60.53, for a total transaction of $242,120.00. Following the completion of the sale, the senior vice president directly owned 302,645 shares in the company, valued at approximately $18,319,101.85. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.44% of the stock is owned by corporate insiders.

Williams Companies Profile

The Williams Companies, Inc, together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services segments. The Transmission & Gulf of Mexico segment comprises natural gas pipelines; Transco, Northwest pipeline, MountainWest, and related natural gas storage facilities; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region.