Williams Partners L.P. (WPZ) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Williams Partners L.P. (NYSE:WPZ) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $40.00 price target on the stock.
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 topic of a number of other research reports. Citigroup Inc. reaffirmed a neutral rating on shares of Williams Partners L.P. in a research report on Wednesday, November 2nd. Credit Suisse Group AG set a $38.00 price target on Williams Partners L.P. and gave the company a hold rating in a research note on Sunday, August 14th. Raymond James Financial Inc. downgraded Williams Partners L.P. from an outperform rating to a market perform rating in a report on Wednesday, August 3rd. Evercore Partners Inc. raised their price target on Williams Partners L.P. from $35.00 to $36.00 and gave the stock a buy rating in a report on Tuesday, August 2nd. Finally, Stifel Nicolaus raised their price target on Williams Partners L.P. from $36.00 to $37.00 and gave the stock a hold rating in a report on Tuesday, November 1st. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Williams Partners L.P. presently has an average rating of Hold and an average target price of $37.36.
Williams Partners L.P. (NYSE:WPZ) opened at 35.33 on Tuesday. The company’s 50 day moving average price is $35.87 and its 200-day moving average price is $35.59. The company’s market capitalization is $20.81 billion. 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 issued its quarterly earnings data on Monday, October 31st. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.12. Williams Partners L.P. had a positive return on equity of 2.49% and a negative net margin of 18.10%. During the same quarter in the prior year, the company earned ($0.32) EPS. Equities research analysts expect that Williams Partners L.P. will post $0.76 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, November 11th. Stockholders of record on Friday, November 4th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 9.62%. The ex-dividend date of this dividend was Wednesday, November 2nd. Williams Partners L.P.’s dividend payout ratio is presently -115.65%.
In other news, insider John D. Seldenrust sold 9,023 shares of Williams Partners L.P. stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $37.67, for a total value of $339,896.41. Following the sale, the insider now directly owns 53,998 shares of the company’s stock, valued at $2,034,104.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several hedge funds have recently modified their holdings of WPZ. Penserra Capital Management LLC raised its position in Williams Partners L.P. by 152.6% in the third quarter. Penserra Capital Management LLC now owns 2,923 shares of the company’s stock worth $108,000 after buying an additional 1,766 shares during the period. Mycio Wealth Partners LLC raised its position in Williams Partners L.P. by 1.5% in the third quarter. Mycio Wealth Partners LLC now owns 3,332 shares of the company’s stock worth $124,000 after buying an additional 50 shares during the period. Cedar Wealth Management LLC bought a new position in Williams Partners L.P. during the second quarter worth $167,000. Opera Trading Capital bought a new position in Williams Partners L.P. during the second quarter worth $173,000. Finally, Tower Research Capital LLC TRC raised its position in Williams Partners L.P. by 1,669.4% in the third quarter. Tower Research Capital LLC TRC now owns 5,326 shares of the company’s stock worth $198,000 after buying an additional 5,025 shares during the period. 35.19% of the stock is currently owned by hedge funds and other institutional investors.
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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