Energy Corp/De Devon Sells 1,755,174 Shares of WBI (NYSE:WBI) Stock

WBI (NYSE:WBI) major shareholder Energy Corp/De Devon sold 1,755,174 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $30.05, for a total transaction of $52,742,978.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

WBI Trading Up 6.8%

Shares of NYSE:WBI opened at $30.25 on Friday. The company’s 50-day moving average is $29.54. WBI has a 12-month low of $18.64 and a 12-month high of $36.21. The company has a market capitalization of $3.73 billion and a PE ratio of 120.98. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.79.

WBI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.20 annualized dividend and a yield of 0.7%. WBI’s dividend payout ratio is currently 80.00%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WBI shares. Wall Street Zen upgraded WBI from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Morgan Stanley lifted their target price on shares of WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Barclays upped their price target on shares of WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. The Goldman Sachs Group increased their price target on shares of WBI from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Weiss Ratings raised shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.20.

About WBI

WaterBridge Infrastructure LLC is an integrated, pure-play water infrastructure company. WaterBridge Infrastructure LLC is based in HOUSTON.