Williams Partners LP (WPZ) Position Trimmed by Royal Bank of Canada
Royal Bank of Canada decreased its position in shares of Williams Partners LP (NYSE:WPZ) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,675 shares of the pipeline company’s stock after selling 12,264 shares during the quarter. Royal Bank of Canada’s holdings in Williams Partners were worth $7,687,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Balyasny Asset Management LLC lifted its position in Williams Partners by 9,962.4% during the second quarter. Balyasny Asset Management LLC now owns 1,428,863 shares of the pipeline company’s stock worth $57,312,000 after purchasing an additional 1,414,663 shares during the period. Doliver Capital Advisors LP bought a new stake in Williams Partners during the second quarter worth about $228,000. Stifel Financial Corp lifted its position in Williams Partners by 0.5% during the second quarter. Stifel Financial Corp now owns 492,661 shares of the pipeline company’s stock worth $19,754,000 after purchasing an additional 2,223 shares during the period. Veritable L.P. lifted its position in Williams Partners by 3.4% during the second quarter. Veritable L.P. now owns 32,951 shares of the pipeline company’s stock worth $1,322,000 after purchasing an additional 1,095 shares during the period. Finally, Global Endowment Management LP lifted its position in Williams Partners by 14.4% during the second quarter. Global Endowment Management LP now owns 43,000 shares of the pipeline company’s stock worth $1,725,000 after purchasing an additional 5,400 shares during the period. 22.76% of the stock is owned by institutional investors and hedge funds.
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In other news, Director H Brent Austin acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were bought at an average cost of $38.66 per share, with a total value of $38,660.00. Following the acquisition, the director now owns 9,958 shares in the company, valued at approximately $384,976.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Several equities research analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $44.00 price objective on shares of Williams Partners in a research report on Monday. Zacks Investment Research cut shares of Williams Partners from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. BidaskClub raised shares of Williams Partners from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 28th. Barclays PLC raised shares of Williams Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $44.00 to $47.00 in a research report on Tuesday, July 18th. Finally, BMO Capital Markets set a $47.00 target price on Williams Partners and gave the stock a “buy” rating in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $44.93.
Williams Partners LP (NYSE WPZ) opened at 38.58 on Thursday. Williams Partners LP has a 1-year low of $32.93 and a 1-year high of $42.32. The firm has a market cap of $36.88 billion, a P/E ratio of 23.20 and a beta of 1.40. The stock has a 50 day moving average price of $39.25 and a 200 day moving average price of $39.73.
Williams Partners (NYSE:WPZ) last announced its quarterly earnings data on Wednesday, August 2nd. The pipeline company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.09). The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Williams Partners had a net margin of 17.82% and a return on equity of 5.90%. On average, analysts anticipate that Williams Partners LP will post $0.76 EPS for the current year.
About Williams Partners
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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