Stephens Begins Coverage on Williams Partners L.P. (WPZ)
Stephens assumed coverage on shares of Williams Partners L.P. (NYSE:WPZ) in a note issued to investors on Thursday. The firm set an “overweight” rating on the stock.
Several other equities analysts have also weighed in on the stock. BMO Capital Markets reiterated a “hold” rating and set a $26.00 price objective on shares of Williams Partners L.P. in a report on Thursday, July 7th. Citigroup Inc. began coverage on shares of Williams Partners L.P. in a report on Friday, July 22nd. They issued a “neutral” rating and a $40.00 target price on the stock. Morgan Stanley upgraded shares of Williams Partners L.P. from an “equal weight” rating to an “overweight” rating in a report on Tuesday, August 2nd. Credit Suisse Group AG set a $38.00 target price on shares of Williams Partners L.P. and gave the stock a “hold” rating in a report on Sunday, August 14th. Finally, Jefferies Group lowered shares of Williams Partners L.P. from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.60.
Shares of Williams Partners L.P. (NYSE:WPZ) opened at 38.41 on Thursday. Williams Partners L.P. has a 1-year low of $12.69 and a 1-year high of $40.36. The firm has a 50 day moving average price of $37.23 and a 200 day moving average price of $31.84. The firm’s market cap is $22.62 billion.
Williams Partners L.P. (NYSE:WPZ) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.67. Williams Partners L.P. had a negative net margin of 25.63% and a positive return on equity of 0.30%. Analysts anticipate that Williams Partners L.P. will post $0.76 EPS for the current year.
In other news, insider John D. Seldenrust sold 9,023 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $37.67, for a total transaction of $339,896.41. Following the completion of the transaction, the insider now directly owns 53,998 shares of the company’s stock, valued at approximately $2,034,104.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in Williams Partners L.P. during the first quarter worth $43,289,000. State Street Corp increased its position in Williams Partners L.P. by 9.0% in the first quarter. State Street Corp now owns 242,361 shares of the company’s stock worth $4,957,000 after buying an additional 19,954 shares in the last quarter. Harvest Fund Advisors LLC increased its position in Williams Partners L.P. by 19.0% in the first quarter. Harvest Fund Advisors LLC now owns 6,537,860 shares of the company’s stock worth $133,699,000 after buying an additional 1,044,910 shares in the last quarter. Stephens Inc. AR increased its position in Williams Partners L.P. by 1.3% in the second quarter. Stephens Inc. AR now owns 26,135 shares of the company’s stock worth $905,000 after buying an additional 325 shares in the last quarter. Finally, First Republic Investment Management Inc. bought a new position in Williams Partners L.P. during the first quarter worth $736,000. 36.16% of the stock is owned by hedge funds and other institutional investors.
About Williams Partners L.P.
Williams Partners L.P., formerly Access Midstream Partners, L.P, is an energy infrastructure master limited partnership with operations across the natural gas value chain. The Company’s segments include Central, Northeast G&P, Atlantic-Gulf, West, and NGL & Petchem Services. Its Central segment provides domestic gathering, treating, and compression services to producers under long-term, fixed fee contracts.
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