Trust Asset Management LLC Buys 244,783 Shares of Williams Partners LP (WPZ)
Trust Asset Management LLC raised its stake in shares of Williams Partners LP (NYSE:WPZ) by 176.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 383,244 shares of the pipeline company’s stock after acquiring an additional 244,783 shares during the period. Williams Partners makes up approximately 5.4% of Trust Asset Management LLC’s holdings, making the stock its 7th biggest position. Trust Asset Management LLC’s holdings in Williams Partners were worth $14,908,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Captrust Financial Advisors bought a new position in Williams Partners during the 2nd quarter valued at about $125,000. Pathstone Family Office LLC bought a new position in Williams Partners during the 2nd quarter valued at about $130,000. Saratoga Research & Investment Management bought a new position in shares of Williams Partners in the 3rd quarter worth approximately $188,000. Balentine LLC lifted its stake in shares of Williams Partners by 10.6% in the 2nd quarter. Balentine LLC now owns 4,788 shares of the pipeline company’s stock worth $192,000 after purchasing an additional 457 shares during the period. Finally, Penserra Capital Management LLC lifted its stake in shares of Williams Partners by 8.3% in the 2nd quarter. Penserra Capital Management LLC now owns 4,854 shares of the pipeline company’s stock worth $194,000 after purchasing an additional 374 shares during the period. Institutional investors and hedge funds own 22.35% of the company’s stock.
In related news, Director H Brent Austin acquired 1,000 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was acquired at an average cost of $38.66 per share, with a total value of $38,660.00. Following the acquisition, the director now directly owns 9,958 shares in the company, valued at approximately $384,976.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several equities analysts have recently weighed in on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $44.00 price objective on shares of Williams Partners in a research note on Monday, October 16th. Zacks Investment Research cut shares of Williams Partners from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. BidaskClub cut shares of Williams Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Barclays PLC upgraded shares of Williams Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $44.00 to $47.00 in a research note on Tuesday, July 18th. Finally, BMO Capital Markets set a $47.00 price objective on shares of Williams Partners and gave the stock a “buy” rating in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Williams Partners currently has an average rating of “Buy” and a consensus target price of $44.93.
Shares of Williams Partners LP (WPZ) traded up $0.48 on Monday, reaching $36.93. 183,766 shares of the company’s stock were exchanged, compared to its average volume of 1,150,000. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.06. Williams Partners LP has a twelve month low of $32.93 and a twelve month high of $42.32. The stock has a market cap of $35,540.00, a price-to-earnings ratio of 23.98, a P/E/G ratio of 2.67 and a beta of 1.46.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, November 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend is Thursday, November 2nd. Williams Partners’s dividend payout ratio (DPR) is currently 171.43%.
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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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