Williams Partners LP (WPZ) Downgraded by BidaskClub to “Strong Sell”
BidaskClub downgraded shares of Williams Partners LP (NYSE:WPZ) from a sell rating to a strong sell rating in a report published on Friday morning.
A number of other research analysts have also recently issued reports on the stock. Jefferies Group LLC reissued a buy rating and set a $44.00 price target on shares of Williams Partners in a research report on Monday, October 16th. BMO Capital Markets set a $47.00 price target on shares of Williams Partners and gave the company a buy rating in a research report on Friday, October 13th. Wells Fargo & Company lowered their price target on shares of Williams Partners from $49.00 to $45.00 and set an outperform rating for the company in a research report on Tuesday, October 10th. Wolfe Research assumed coverage on shares of Williams Partners in a research report on Monday, September 25th. They set an outperform rating and a $45.00 price target for the company. Finally, TheStreet cut shares of Williams Partners from a b- rating to a c+ rating in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Williams Partners has an average rating of Buy and a consensus target price of $44.93.
Williams Partners (NYSE:WPZ) traded down 0.82% during midday trading on Friday, hitting $38.48. 672,937 shares of the stock traded hands. Williams Partners has a 52 week low of $32.93 and a 52 week high of $42.32. The stock has a market capitalization of $36.78 billion, a P/E ratio of 23.14 and a beta of 1.40. The stock’s 50-day moving average price is $39.24 and its 200-day moving average price is $39.71.
Williams Partners (NYSE:WPZ) last issued its quarterly earnings results on Wednesday, August 2nd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). Williams Partners had a net margin of 17.82% and a return on equity of 5.90%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Equities research analysts expect that Williams Partners will post $0.76 EPS for the current fiscal year.
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In related news, Director H Brent Austin purchased 1,000 shares of Williams Partners stock in a transaction dated Friday, September 22nd. The stock was purchased at an average cost of $38.66 per share, for a total transaction of $38,660.00. Following the completion of the purchase, the director now directly owns 9,958 shares of the company’s stock, valued at approximately $384,976.28. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Several hedge funds have recently made changes to their positions in the company. Spirit of America Management Corp NY grew its stake in shares of Williams Partners by 8.1% in the third quarter. Spirit of America Management Corp NY now owns 552,867 shares of the pipeline company’s stock worth $21,507,000 after acquiring an additional 41,400 shares during the period. Adams Asset Advisors LLC bought a new stake in shares of Williams Partners in the third quarter worth approximately $1,178,000. GWM Advisors LLC bought a new stake in shares of Williams Partners in the second quarter worth approximately $288,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Williams Partners by 2.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 181,515 shares of the pipeline company’s stock worth $7,281,000 after acquiring an additional 3,936 shares during the period. Finally, Balentine LLC grew its stake in shares of Williams Partners by 10.6% in the second quarter. Balentine LLC now owns 4,788 shares of the pipeline company’s stock worth $192,000 after acquiring an additional 457 shares during the period. Hedge funds and other institutional investors own 22.76% of the company’s stock.
Williams Partners Company 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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