Williams Partners’ (WPZ) “Buy” Rating Reaffirmed at Jefferies Group
Jefferies Group reaffirmed their buy rating on shares of Williams Partners (NYSE:WPZ) in a research report sent to investors on Wednesday. They currently have a $45.00 price target on the pipeline company’s stock. Jefferies Group also issued estimates for Williams Partners’ Q4 2017 earnings at $0.49 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.49 EPS, Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $2.11 EPS, FY2019 earnings at $2.37 EPS, FY2020 earnings at $2.51 EPS and FY2021 earnings at $2.57 EPS.
A number of other equities analysts have also recently issued reports on the stock. BidaskClub cut shares of Williams Partners from a sell rating to a strong sell rating in a report on Friday, October 20th. Wells Fargo & Co cut their price target on Williams Partners from $49.00 to $45.00 and set an outperform rating on the stock in a report on Tuesday, October 10th. Stifel Nicolaus set a $45.00 price target on Williams Partners and gave the company a buy rating in a report on Friday, December 1st. BMO Capital Markets set a $47.00 price objective on shares of Williams Partners and gave the company a buy rating in a research note on Friday, October 13th. Finally, Wolfe Research assumed coverage on shares of Williams Partners in a research note on Monday, September 25th. They set an outperform rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine 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 an average target price of $45.15.
Shares of Williams Partners (NYSE WPZ) opened at $38.67 on Wednesday. Williams Partners has a fifty-two week low of $34.74 and a fifty-two week high of $42.32. The firm has a market capitalization of $37,647.92, a P/E ratio of 25.44, a P/E/G ratio of 2.87 and a beta of 1.43. The company has a quick ratio of 0.99, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.
In related news, insider John D. Seldenrust sold 6,770 shares of Williams Partners stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $38.76, for a total value of $262,405.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan S. Armstrong acquired 5,000 shares of Williams Partners stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average cost of $35.00 per share, with a total value of $175,000.00. The disclosure for this purchase can be found here.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in shares of Williams Partners by 9.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,779 shares of the pipeline company’s stock worth $4,764,000 after purchasing an additional 10,294 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Williams Partners by 36.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,065 shares of the pipeline company’s stock worth $1,366,000 after purchasing an additional 9,015 shares during the period. BB&T Securities LLC increased its holdings in shares of Williams Partners by 5.4% during the 2nd quarter. BB&T Securities LLC now owns 18,783 shares of the pipeline company’s stock worth $753,000 after purchasing an additional 961 shares during the period. Jennison Associates LLC increased its holdings in shares of Williams Partners by 1.0% during the 2nd quarter. Jennison Associates LLC now owns 691,344 shares of the pipeline company’s stock worth $27,730,000 after purchasing an additional 7,022 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in shares of Williams Partners during the 2nd quarter worth about $496,000. 22.47% of the stock is owned by institutional investors and hedge funds.
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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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