Hilton Capital Management LLC Decreases Stake in Williams Partners LP (WPZ)
Hilton Capital Management LLC lowered its position in Williams Partners LP (NYSE:WPZ) by 31.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,003 shares of the pipeline company’s stock after selling 6,067 shares during the period. Hilton Capital Management LLC’s holdings in Williams Partners were worth $506,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in WPZ. Center Coast Capital Advisors LP bought a new position in shares of Williams Partners in the 2nd quarter worth approximately $183,318,000. Alps Advisors Inc. increased its position in Williams Partners by 11.4% during the 3rd quarter. Alps Advisors Inc. now owns 20,559,321 shares of the pipeline company’s stock valued at $799,758,000 after buying an additional 2,105,286 shares in the last quarter. Balyasny Asset Management LLC increased its position in Williams Partners by 9,962.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,428,863 shares of the pipeline company’s stock valued at $57,312,000 after buying an additional 1,414,663 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Williams Partners by 297.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 653,260 shares of the pipeline company’s stock valued at $26,202,000 after buying an additional 488,919 shares in the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in Williams Partners during the 2nd quarter valued at approximately $13,490,000. 22.78% of the stock is owned by hedge funds and other institutional investors.
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A number of research firms recently weighed in on WPZ. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price objective on shares of Williams Partners in a research report on Friday, July 21st. Zacks Investment Research lowered Williams Partners from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. BMO Capital Markets set a $47.00 price objective on Williams Partners and gave the company a “buy” rating in a research report on Friday, October 13th. BidaskClub raised Williams Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $44.00 price objective on shares of Williams Partners in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $44.93.
In other news, Director H Brent Austin purchased 1,000 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were purchased at an average cost of $38.66 per share, for a total transaction of $38,660.00. Following the purchase, the director now directly owns 9,958 shares in the company, valued at approximately $384,976.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Williams Partners LP (WPZ) traded up $0.23 during trading on Thursday, hitting $35.41. The company’s stock had a trading volume of 948,400 shares, compared to its average volume of 1,164,761. The company has a market cap of $34,340.00, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46. Williams Partners LP has a twelve month low of $33.12 and a twelve month high of $42.32. The company has a current ratio of 1.06, a quick ratio of 0.99 and a debt-to-equity ratio of 0.65.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, November 3rd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.78%. The ex-dividend date of this dividend was Thursday, November 2nd. Williams Partners’s payout ratio is 171.43%.
Williams Partners Company Profile
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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