Williams Companies (NYSE:WMB) Reaches New 52-Week High Following Better-Than-Expected Earnings

The Williams Companies, Inc. (NYSE:WMB)’s share price hit a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $39.99 and last traded at $39.89, with a volume of 966804 shares traded. The stock had previously closed at $39.06.

The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.49 by $0.10. Williams Companies had a net margin of 29.22% and a return on equity of 16.20%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the firm posted $0.56 earnings per share. Williams Companies’s revenue for the quarter was down 10.1% compared to the same quarter last year.

Williams Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, June 7th. Williams Companies’s payout ratio is 72.52%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wolfe Research restated an “underperform” rating and issued a $34.00 price target on shares of Williams Companies in a report on Thursday, April 18th. US Capital Advisors downgraded shares of Williams Companies from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Truist Financial upped their price objective on shares of Williams Companies from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, March 25th. UBS Group lifted their target price on Williams Companies from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Barclays increased their price target on Williams Companies from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Donoghue Forlines LLC lifted its holdings in Williams Companies by 89.3% in the first quarter. Donoghue Forlines LLC now owns 35,529 shares of the pipeline company’s stock worth $1,385,000 after acquiring an additional 16,756 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Williams Companies by 3.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 24,932 shares of the pipeline company’s stock worth $972,000 after purchasing an additional 814 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Williams Companies during the 1st quarter valued at approximately $919,000. Sei Investments Co. increased its position in Williams Companies by 18.9% in the first quarter. Sei Investments Co. now owns 936,849 shares of the pipeline company’s stock worth $36,509,000 after buying an additional 148,647 shares during the period. Finally, Atomi Financial Group Inc. bought a new stake in Williams Companies in the first quarter valued at $242,000. 86.44% of the stock is owned by institutional investors and hedge funds.

Williams Companies Trading Up 0.1 %

The firm’s fifty day moving average price is $38.01 and its 200-day moving average price is $36.06. The company has a market cap of $47.65 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 6.07 and a beta of 1.05. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.73.

Williams Companies Company 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.