WBI (NYSE:WBI) Price Target Raised to $41.00 at The Goldman Sachs Group

WBI (NYSE:WBI) had its target price boosted by The Goldman Sachs Group from $36.00 to $41.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley upped their target price on shares of WBI from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Wall Street Zen raised shares of WBI from a “sell” rating to a “hold” rating in a report on Sunday. Weiss Ratings upgraded shares of WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Barclays lifted their target price on shares of WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, WBI presently has a consensus rating of “Moderate Buy” and an average target price of $34.20.

WBI Trading Down 4.0%

NYSE WBI opened at $34.44 on Wednesday. WBI has a 1-year low of $18.64 and a 1-year high of $36.37. The firm has a market capitalization of $4.25 billion and a P/E ratio of 137.76. The firm’s 50 day moving average is $30.99. 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 (NYSE:WBI) last issued its earnings results on Wednesday, May 6th. The company reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $200.98 million during the quarter. On average, analysts predict that WBI will post 0.37 earnings per share for the current year.

WBI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, June 4th. WBI’s payout ratio is currently 80.00%.

Insider Activity at WBI

In other WBI news, major shareholder Energy Corp/De Devon sold 1,755,174 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $30.05, for a total value of $52,742,978.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Waterbridge Resources Llc sold 5,894,826 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $30.05, for a total transaction of $177,139,521.30. Following the completion of the transaction, the insider directly owned 1,980,921 shares of the company’s stock, valued at approximately $59,526,676.05. This represents a 74.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 19,439,652 shares of company stock worth $584,161,543 in the last 90 days. Corporate insiders own 50.61% of the company’s stock.

About WBI

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