Bank of New York Mellon Corp Raises Position in Williams Partners LP (NYSE:WPZ)
Bank of New York Mellon Corp raised its position in shares of Williams Partners LP (NYSE:WPZ) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,485 shares of the pipeline company’s stock after buying an additional 4,807 shares during the period. Bank of New York Mellon Corp’s holdings in Williams Partners were worth $4,428,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the stock. Advisory Services Network LLC acquired a new stake in shares of Williams Partners during the first quarter worth approximately $127,000. Quadrature Capital Ltd acquired a new stake in shares of Williams Partners during the fourth quarter worth approximately $268,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Williams Partners during the first quarter worth approximately $326,000. Biondo Investment Advisors LLC increased its stake in shares of Williams Partners by 6.5% in the first quarter. Biondo Investment Advisors LLC now owns 10,172 shares of the pipeline company’s stock worth $366,000 after buying an additional 624 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. increased its stake in shares of Williams Partners by 28.8% in the first quarter. Adell Harriman & Carpenter Inc. now owns 10,286 shares of the pipeline company’s stock worth $420,000 after buying an additional 2,300 shares during the last quarter. 23.35% of the stock is owned by institutional investors.
Williams Partners LP (NYSE WPZ) traded down 0.73% during trading on Friday, hitting $39.42. The stock had a trading volume of 1,043,507 shares. The company has a 50-day moving average price of $39.76 and a 200-day moving average price of $40.27. Williams Partners LP has a 52-week low of $32.93 and a 52-week high of $42.32. The company has a market cap of $37.68 billion, a price-to-earnings ratio of 23.68 and a beta of 1.43.
Williams Partners (NYSE:WPZ) last issued its earnings results on Wednesday, August 2nd. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.09. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $2.13 billion. Williams Partners had a return on equity of 5.97% and a net margin of 17.82%. Equities research analysts forecast that Williams Partners LP will post $0.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, August 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 6.09%. The ex-dividend date is Wednesday, August 2nd. Williams Partners’s dividend payout ratio is currently 143.71%.
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A number of brokerages recently commented on WPZ. Zacks Investment Research downgraded Williams Partners from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. TheStreet raised Williams Partners from a “c+” rating to a “b-” rating in a report on Tuesday, May 30th. BidaskClub raised Williams Partners from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. BMO Capital Markets set a $47.00 price objective on Williams Partners and gave the company a “buy” rating in a report on Tuesday, May 2nd. Finally, Barclays PLC raised Williams Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $44.00 to $47.00 in a report on Tuesday, July 18th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Williams Partners has a consensus rating of “Buy” and a consensus price target of $44.77.
About Williams Partners
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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