Williams Partners L.P. (NYSE:WPZ) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Williams Partners L.P. is a master limited partnership. The company is engaged in gathering, processing, transportation and storage of natural gas and natural gas liquids. It operates primarily in U.S. and Canada. Williams Partners L.P., formerly known as Access Midstream Partners, L.P., is headquartered in Oklahoma City. “
Other analysts have also issued reports about the stock. Evercore Partners Inc. upped their target price on shares of Williams Partners L.P. from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Jefferies Group reiterated a “buy” rating and issued a $40.00 price target (up from $39.00) on shares of Williams Partners L.P. in a research note on Wednesday, June 8th. Bank of America Corp. reiterated a “buy” rating and issued a $37.00 price target (up from $28.00) on shares of Williams Partners L.P. in a research note on Wednesday, June 8th. BMO Capital Markets reiterated a “hold” rating and issued a $26.00 price target on shares of Williams Partners L.P. in a research note on Thursday, July 7th. Finally, TheStreet upgraded shares of Williams Partners L.P. from a “sell” rating to a “hold” rating in a research note on Thursday, June 9th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $39.00.
Williams Partners L.P. (NYSE:WPZ) opened at 36.47 on Thursday. The stock’s 50 day moving average is $37.37 and its 200 day moving average is $32.62. Williams Partners L.P. has a 12-month low of $12.69 and a 12-month high of $40.36. The stock’s market capitalization is $21.48 billion.
Williams Partners L.P. (NYSE:WPZ) last released its earnings results on Monday, August 1st. The company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.67. Williams Partners L.P. had a positive return on equity of 0.30% and a negative net margin of 25.63%. Equities research analysts forecast that Williams Partners L.P. will post $0.76 EPS for the current fiscal year.
In other Williams Partners L.P. news, insider John D. Seldenrust sold 9,023 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $37.67, for a total value of $339,896.41. Following the completion of the sale, the insider now owns 53,998 shares of the company’s stock, valued at $2,034,104.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
A number of large investors have recently added to or reduced their stakes in WPZ. Renaissance Technologies LLC acquired a new stake in Williams Partners L.P. during the first quarter worth approximately $43,289,000. Harvest Fund Advisors LLC increased its stake 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 during the period. Stephens Inc. AR increased its stake 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 during the period. First Republic Investment Management Inc. acquired a new stake in Williams Partners L.P. during the first quarter worth approximately $736,000. Finally, Capital Advisors Inc. OK acquired a new stake in Williams Partners L.P. during the second quarter worth approximately $540,000. 36.16% of the stock is owned by 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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