Viking Fund Management LLC Has $20.32 Million Position in Williams Companies Inc (WMB)
Viking Fund Management LLC lessened its holdings in Williams Companies Inc (NYSE:WMB) by 7.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 666,300 shares of the pipeline company’s stock after selling 56,200 shares during the quarter. Williams Companies comprises 3.3% of Viking Fund Management LLC’s investment portfolio, making the stock its 3rd biggest position. Viking Fund Management LLC’s holdings in Williams Companies were worth $20,315,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Duff & Phelps Investment Management Co. raised its position in shares of Williams Companies by 4.6% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,161,934 shares of the pipeline company’s stock worth $34,870,000 after buying an additional 51,325 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Williams Companies during the third quarter valued at about $2,848,000. Vaughan David Investments Inc. IL raised its position in Williams Companies by 32.2% during the third quarter. Vaughan David Investments Inc. IL now owns 509,104 shares of the pipeline company’s stock valued at $24,091,000 after purchasing an additional 124,051 shares in the last quarter. Zeke Capital Advisors LLC purchased a new stake in Williams Companies during the third quarter valued at about $318,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Williams Companies by 5.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 432,492 shares of the pipeline company’s stock valued at $12,979,000 after purchasing an additional 24,054 shares in the last quarter. Institutional investors own 84.62% of the company’s stock.
A number of research firms have weighed in on WMB. Jefferies Group restated a “buy” rating and set a $37.00 price target on shares of Williams Companies in a research report on Friday, January 12th. Barclays downgraded Williams Companies from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $36.00 to $35.00 in a research report on Wednesday. Royal Bank of Canada restated a “buy” rating and set a $38.00 price target on shares of Williams Companies in a research report on Tuesday. Bank of America began coverage on Williams Companies in a research report on Tuesday, January 9th. They set a “buy” rating on the stock. Finally, Credit Suisse Group began coverage on Williams Companies in a research report on Thursday, January 4th. They set an “outperform” rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $34.42.
Williams Companies (NYSE:WMB) last released its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.04). The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Williams Companies had a return on equity of 3.23% and a net margin of 5.90%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS. analysts expect that Williams Companies Inc will post 0.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 26th. Stockholders of record on Friday, December 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.20 annualized dividend and a dividend yield of 3.72%. Williams Companies’s dividend payout ratio is currently 210.53%.
In related news, CEO Alan S. Armstrong acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were purchased at an average price of $27.23 per share, for a total transaction of $163,380.00. Following the completion of the acquisition, the chief executive officer now owns 345,527 shares in the company, valued at $9,408,700.21. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Ted T. Timmermans sold 1,500 shares of Williams Companies stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $28.75, for a total value of $43,125.00. Following the completion of the transaction, the vice president now owns 9,594 shares in the company, valued at approximately $275,827.50. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.
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About Williams Companies
The Williams Companies, Inc is an energy infrastructure company. The Company is focused on connecting North America’s hydrocarbon resource plays to markets for natural gas, natural gas liquids (NGL), and olefins. As of December 31, 2016, its interstate gas pipelines, midstream and olefins production interests were held through its investment in Williams Partners L.P.
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