Williams Partners L.P. (WPZ) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “Williams Partners L.P. is a master limited partnership. The company is engaged in gathering, processing, transportation and storage of natural gas and natural gas liquids. It operates primarily in U.S. and Canada. Williams Partners L.P., formerly known as Access Midstream Partners, L.P., is headquartered in Oklahoma City. “
WPZ has been the subject of a number of other research reports. Credit Suisse Group AG set a $38.00 price objective on shares of Williams Partners L.P. and gave the company a hold rating in a research note on Sunday, August 14th. Jefferies Group reaffirmed a buy rating and set a $40.00 price objective (up previously from $39.00) on shares of Williams Partners L.P. in a research note on Wednesday, June 8th. TheStreet raised shares of Williams Partners L.P. from a sell rating to a hold rating in a research note on Thursday, June 9th. Raymond James Financial Inc. downgraded shares of Williams Partners L.P. from an outperform rating to a market perform rating in a research note on Wednesday, August 3rd. Finally, Evercore Partners Inc. upped their price objective on shares of Williams Partners L.P. from $35.00 to $36.00 and gave the company a buy rating in a research note on Tuesday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $39.00.
Shares of Williams Partners L.P. (NYSE:WPZ) traded up 0.727% during mid-day trading on Thursday, reaching $36.715. 304,272 shares of the company traded hands. The company’s market capitalization is $21.62 billion. The firm’s 50 day moving average price is $37.41 and its 200-day moving average price is $32.50. Williams Partners L.P. has a 52-week low of $12.69 and a 52-week high of $40.36.
Williams Partners L.P. (NYSE:WPZ) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.49) EPS for the quarter, missing the Zacks’ 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%. Equities analysts predict that Williams Partners L.P. will post $0.76 earnings per share for the current fiscal year.
In other Williams Partners L.P. news, insider John D. Seldenrust sold 9,023 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $37.67, for a total value of $339,896.41. Following the sale, the insider now owns 53,998 shares in the company, valued at $2,034,104.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Several large investors have recently bought and sold shares of WPZ. IFP Advisors Inc boosted its stake in Williams Partners L.P. by 4.5% in the first quarter. IFP Advisors Inc now owns 11,551 shares of the company’s stock worth $236,000 after buying an additional 500 shares during the last quarter. Bessemer Group Inc. boosted its stake in Williams Partners L.P. by 6.7% in the first quarter. Bessemer Group Inc. now owns 7,856 shares of the company’s stock worth $160,000 after buying an additional 491 shares during the last quarter. ING Groep NV boosted its stake in Williams Partners L.P. by 62.5% in the first quarter. ING Groep NV now owns 6,913,797 shares of the company’s stock worth $141,387,000 after buying an additional 2,659,597 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Williams Partners L.P. by 50.6% in the first quarter. Rafferty Asset Management LLC now owns 104,937 shares of the company’s stock worth $2,146,000 after buying an additional 35,261 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Williams Partners L.P. during the first quarter worth approximately $1,309,000. Hedge funds and other institutional investors own 36.16% of the company’s stock.
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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