WBI (NYSE:WBI) Shares Up 3.8% – Here’s What Happened

WBI (NYSE:WBI)’s share price shot up 3.8% during trading on Thursday . The stock traded as high as $29.97 and last traded at $29.9610. 118,184 shares were traded during mid-day trading, a decline of 87% from the average session volume of 902,793 shares. The stock had previously closed at $28.86.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WBI shares. Morgan Stanley upped their price objective on WBI from $38.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Barclays boosted their price target on WBI from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Weiss Ratings upgraded WBI from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. The Goldman Sachs Group increased their price objective on shares of WBI from $36.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company lifted their price objective on shares of WBI from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.71.

WBI Price Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a fifty day simple moving average of $32.48 and a two-hundred day simple moving average of $30.19. The firm has a market cap of $3.68 billion and a PE ratio of 371.69.

WBI (NYSE:WBI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $217.77 million for the quarter. WBI had a return on equity of 0.85% and a net margin of 0.54%. Equities analysts predict that WBI will post 0.31 EPS for the current fiscal year.

WBI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, August 27th. WBI’s payout ratio is currently 250.00%.

About WBI

WBI Holdings, Inc was a holding company associated with businesses in the natural gas industry. Through its subsidiaries, the company was involved primarily in the transmission, storage and related transportation of natural gas.

Its operations served energy markets in the northern United States, including areas connected to the Williston Basin and surrounding states. The company’s activities supported the movement of natural gas from production regions to utilities, industrial customers and other end users.

Publicly available information about WBI Holdings, Inc’s current operating status, leadership and corporate structure is limited, and the company is not generally identified as an active operating company under the NYSE:WBI symbol.