Stephens began coverage on shares of Williams Partners L.P. (NYSE:WPZ) in a research note issued to investors on Thursday. The brokerage set an “overweight” rating and a $43.00 price target on the stock. Stephens’ price objective would suggest a potential upside of 15.62% from the stock’s previous close.
Several other equities research analysts have also commented on WPZ. Bank of America Corp. restated a “buy” rating and issued a $37.00 price target (up previously from $28.00) on shares of Williams Partners L.P. in a research note on Wednesday, June 8th. Jefferies Group restated a “buy” rating and issued a $40.00 price target (up previously from $39.00) on shares of Williams Partners L.P. in a research note on Wednesday, June 8th. TheStreet upgraded shares of Williams Partners L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. Zacks Investment Research lowered shares of Williams Partners L.P. from a “hold” rating to a “strong sell” rating in a research note on Saturday, June 11th. Finally, Royal Bank Of Canada dropped their price target on shares of Williams Partners L.P. from $54.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.00.
Shares of Williams Partners L.P. (NYSE:WPZ) opened at 37.19 on Thursday. The company has a 50-day moving average price of $37.37 and a 200-day moving average price of $32.02. Williams Partners L.P. has a 1-year low of $12.69 and a 1-year high of $40.36. The stock’s market cap is $21.90 billion.
Williams Partners L.P. (NYSE:WPZ) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.18 by $0.67. Williams Partners L.P. had a negative net margin of 25.63% and a positive return on equity of 0.30%. On average, equities analysts expect that Williams Partners L.P. will post $0.76 earnings per share for the current fiscal year.
In related news, insider John D. Seldenrust sold 9,023 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $37.67, for a total value of $339,896.41. Following the completion of the transaction, the insider now owns 53,998 shares of the company’s stock, valued at approximately $2,034,104.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
A number of institutional investors have recently bought and sold shares of WPZ. Renaissance Technologies LLC purchased a new position in Williams Partners L.P. during the first quarter worth approximately $43,289,000. State Street Corp raised its position in Williams Partners L.P. by 9.0% in the first quarter. State Street Corp now owns 242,361 shares of the company’s stock worth $4,957,000 after buying an additional 19,954 shares in the last quarter. Harvest Fund Advisors LLC raised its position in Williams Partners L.P. by 19.0% in the first quarter. Harvest Fund Advisors LLC now owns 6,537,860 shares of the company’s stock worth $133,699,000 after buying an additional 1,044,910 shares in the last quarter. Stephens Inc. AR raised its position in Williams Partners L.P. by 1.3% in the second quarter. Stephens Inc. AR now owns 26,135 shares of the company’s stock worth $905,000 after buying an additional 325 shares in the last quarter. Finally, First Republic Investment Management Inc. purchased a new position in Williams Partners L.P. during the first quarter worth approximately $736,000. 36.16% of the stock is owned by hedge funds and other institutional investors.
About Williams Partners L.P.
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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