State Board of Administration of Florida Retirement System Raises Stake in The Williams Companies, Inc. (NYSE:WMB)

State Board of Administration of Florida Retirement System lifted its position in shares of The Williams Companies, Inc. (NYSE:WMB) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,523,126 shares of the pipeline company’s stock after purchasing an additional 11,100 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in The Williams Companies were worth $40,439,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Evercore Wealth Management LLC grew its holdings in shares of The Williams Companies by 16,558.9% during the 1st quarter. Evercore Wealth Management LLC now owns 2,218,296 shares of the pipeline company’s stock worth $52,551,000 after purchasing an additional 2,204,980 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of The Williams Companies by 2.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 149,395 shares of the pipeline company’s stock worth $3,539,000 after purchasing an additional 4,032 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of The Williams Companies by 15.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,669,692 shares of the pipeline company’s stock worth $158,006,000 after purchasing an additional 887,087 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in The Williams Companies in the 1st quarter worth approximately $1,224,000. Finally, Panagora Asset Management Inc. boosted its holdings in The Williams Companies by 39.4% in the 1st quarter. Panagora Asset Management Inc. now owns 1,300,165 shares of the pipeline company’s stock worth $30,801,000 after acquiring an additional 367,715 shares during the period. Institutional investors and hedge funds own 83.54% of the company’s stock.

WMB stock opened at $24.75 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 1.48. The firm has a market cap of $30.07 billion, a P/E ratio of 26.33, a P/E/G ratio of 4.12 and a beta of 1.49. The Williams Companies, Inc. has a 12-month low of $18.26 and a 12-month high of $28.35. The stock’s 50 day simple moving average is $25.00 and its 200 day simple moving average is $25.11.

The Williams Companies (NYSE:WMB) last posted its quarterly earnings results on Sunday, August 1st. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.07 billion. The Williams Companies had a net margin of 12.94% and a return on equity of 10.13%. The business’s revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. On average, research analysts forecast that The Williams Companies, Inc. will post 1.18 EPS for the current fiscal year.

The Williams Companies announced that its Board of Directors has authorized a stock buyback program on Wednesday, September 8th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to repurchase up to 5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 27th. Shareholders of record on Friday, September 10th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 6.63%. The ex-dividend date is Thursday, September 9th. The Williams Companies’s dividend payout ratio is presently 149.09%.

WMB has been the subject of a number of analyst reports. Royal Bank of Canada upped their price target on The Williams Companies from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, May 19th. Credit Suisse Group upped their price target on The Williams Companies from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, May 18th. Raymond James upped their price target on The Williams Companies from $28.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 21st. Wells Fargo & Company upped their price target on The Williams Companies from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Thursday, June 24th. Finally, Zacks Investment Research cut The Williams Companies from a “hold” rating to a “sell” rating and set a $26.00 price target for the company. in a report on Tuesday, August 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $27.33.

About The Williams Companies

The Williams Cos., Inc operates as an energy infrastructure company, which explores, produces, transports, sells and processes natural gas and petroleum products. It operates through the following segments: Transmission and Gulf of Mexico; Northeast G&P; and West. The Transmission and Gulf of Mexico segment comprises of interstate natural gas pipelines, Transco and Northwest Pipeline, as well as natural gas gathering and processing and crude oil production handling and transportation assets in the Gulf Coast region.

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Institutional Ownership by Quarter for The Williams Companies (NYSE:WMB)

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