Chicago Partners Investment Group LLC Grows Stake in Williams Partners LP (WPZ)
Chicago Partners Investment Group LLC increased its stake in shares of Williams Partners LP (NYSE:WPZ) by 75.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,700 shares of the pipeline company’s stock after purchasing an additional 76,673 shares during the period. Williams Partners makes up 1.2% of Chicago Partners Investment Group LLC’s investment portfolio, making the stock its 22nd largest holding. Chicago Partners Investment Group LLC’s holdings in Williams Partners were worth $6,913,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new stake in Williams Partners during the second quarter valued at approximately $125,000. Pathstone Family Office LLC purchased a new stake in Williams Partners during the second quarter valued at approximately $130,000. Saratoga Research & Investment Management purchased a new stake in Williams Partners during the third quarter valued at approximately $188,000. Balentine LLC increased its holdings in Williams Partners by 10.6% during the second quarter. Balentine LLC now owns 4,788 shares of the pipeline company’s stock valued at $192,000 after buying an additional 457 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in Williams Partners by 8.3% during the second quarter. Penserra Capital Management LLC now owns 4,854 shares of the pipeline company’s stock valued at $194,000 after buying an additional 374 shares during the last quarter. 22.47% of the stock is owned by hedge funds and other institutional investors.
In other Williams Partners news, Director H Brent Austin acquired 1,000 shares of the stock in a transaction on Friday, September 22nd. The stock was acquired at an average price of $38.66 per share, for a total transaction of $38,660.00. Following the completion of the transaction, the director now directly owns 9,958 shares of the company’s stock, valued at $384,976.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan S. Armstrong acquired 5,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were acquired at an average price of $35.00 per share, with a total value of $175,000.00. The disclosure for this purchase can be found here.
Shares of Williams Partners LP (NYSE WPZ) traded down $0.19 during trading hours on Friday, hitting $38.16. 1,471,845 shares of the company were exchanged, compared to its average volume of 1,191,759. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.65. Williams Partners LP has a 12-month low of $33.12 and a 12-month high of $42.32. The company has a market capitalization of $36,742.27, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 2.80 and a beta of 1.43.
A number of brokerages have commented on WPZ. Jefferies Group reaffirmed a “buy” rating and set a $44.00 target price on shares of Williams Partners in a report on Tuesday, August 22nd. TheStreet lowered shares of Williams Partners from a “b-” rating to a “c+” rating in a research report on Monday, August 21st. Wolfe Research began coverage on shares of Williams Partners in a research report on Monday, September 25th. They issued an “outperform” rating and a $45.00 price target for the company. BMO Capital Markets set a $47.00 price target on shares of Williams Partners and gave the stock a “buy” rating in a research report on Friday, August 18th. Finally, Stifel Nicolaus set a $45.00 price target on shares of Williams Partners and gave the stock a “buy” rating in a research report on Friday, December 1st. One investment 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 stock. The company currently has an average rating of “Buy” and a consensus price target of $44.71.
Williams Partners Profile
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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