Williams Partners L.P. (WPZ) Shares Bought by Trust Asset Management LLC
Trust Asset Management LLC increased its stake in Williams Partners L.P. (NYSE:WPZ) by 186.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,845 shares of the company’s stock after buying an additional 164,703 shares during the period. Williams Partners L.P. makes up 3.7% of Trust Asset Management LLC’s investment portfolio, making the stock its 8th largest position. Trust Asset Management LLC’s holdings in Williams Partners L.P. were worth $9,403,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cedar Wealth Management LLC acquired a new position in shares of Williams Partners L.P. during the second quarter valued at about $167,000. Opera Trading Capital acquired a new position in shares of Williams Partners L.P. during the second quarter valued at about $173,000. Burke & Herbert Bank & Trust Co. acquired a new position in shares of Williams Partners L.P. during the second quarter valued at about $203,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Williams Partners L.P. during the second quarter valued at about $210,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Williams Partners L.P. during the second quarter valued at about $211,000. Institutional investors and hedge funds own 36.08% of the company’s stock.
Williams Partners L.P. (NYSE:WPZ) traded down 0.90% during trading on Wednesday, hitting $35.18. 1,110,791 shares of the company were exchanged. Williams Partners L.P. has a 1-year low of $12.69 and a 1-year high of $40.36. The firm’s 50 day moving average price is $35.98 and its 200-day moving average price is $35.06. The stock’s market capitalization is $20.72 billion.
Williams Partners L.P. (NYSE:WPZ) last released its quarterly earnings data on Monday, October 31st. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.12. Williams Partners L.P. had a negative net margin of 18.10% and a positive return on equity of 2.49%. During the same period last year, the firm earned ($0.32) earnings per share. Equities analysts predict that Williams Partners L.P. will post $0.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 11th. Investors of record on Friday, November 4th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 9.66%. The ex-dividend date of this dividend was Wednesday, November 2nd. Williams Partners L.P.’s dividend payout ratio (DPR) is presently -115.65%.
Several research analysts recently issued reports on the stock. Citigroup Inc. reiterated a “neutral” rating on shares of Williams Partners L.P. in a research note on Wednesday, November 2nd. Credit Suisse Group AG set a $38.00 price target on shares of Williams Partners L.P. and gave the stock a “hold” rating in a research note on Sunday, August 14th. Raymond James Financial Inc. lowered shares of Williams Partners L.P. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded shares of Williams Partners L.P. from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, November 4th. Finally, Evercore Partners Inc. increased 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 report on Tuesday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $37.18.
In other Williams Partners L.P. news, insider John D. Seldenrust sold 9,023 shares of the business’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 completion of the transaction, the insider now directly owns 53,998 shares in the company, valued at $2,034,104.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Williams Partners L.P. Company Profile
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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