Williams Companies (NYSE:WMB) Price Target Raised to $40.00

Williams Companies (NYSE:WMBGet Rating) had its price target raised by Wells Fargo & Company from $39.00 to $40.00 in a report published on Wednesday, MarketBeat.com reports. They currently have an overweight rating on the pipeline company’s stock.

WMB has been the subject of several other reports. Truist Financial initiated coverage on shares of Williams Companies in a research report on Monday, May 2nd. They issued a buy rating and a $37.00 price objective for the company. Raymond James boosted their price objective on shares of Williams Companies from $36.00 to $40.00 and gave the stock a strong-buy rating in a research note on Wednesday, April 20th. TD Securities boosted their price objective on shares of Williams Companies from $36.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday, May 4th. US Capital Advisors restated a hold rating on shares of Williams Companies in a research note on Wednesday, June 1st. Finally, Morgan Stanley upped their price target on shares of Williams Companies from $34.00 to $40.00 and gave the company an equal weight rating in a research note on Tuesday, April 26th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $35.92.

Williams Companies Stock Performance

Shares of NYSE WMB opened at $32.22 on Wednesday. Williams Companies has a 52-week low of $23.53 and a 52-week high of $37.97. The company has a market cap of $39.26 billion, a P/E ratio of 25.17, a P/E/G ratio of 6.14 and a beta of 1.19. The firm’s fifty day moving average is $32.79 and its two-hundred day moving average is $32.81. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.69 and a current ratio of 0.65.

Williams Companies (NYSE:WMBGet Rating) last released its quarterly earnings results on Monday, August 1st. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). Williams Companies had a return on equity of 13.43% and a net margin of 14.57%. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the firm posted $0.27 earnings per share. Williams Companies’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts anticipate that Williams Companies will post 1.52 EPS for the current fiscal year.

Williams Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Thursday, September 8th. Williams Companies’s dividend payout ratio (DPR) is presently 132.81%.

Insider Transactions at Williams Companies

In related news, SVP Debbie L. Cowan sold 36,228 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $37.75, for a total value of $1,367,607.00. Following the completion of the sale, the senior vice president now owns 62,891 shares in the company, valued at approximately $2,374,135.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Williams Companies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Williams Companies by 6.3% in the 1st quarter. Vanguard Group Inc. now owns 122,908,600 shares of the pipeline company’s stock valued at $4,106,376,000 after acquiring an additional 7,243,812 shares during the last quarter. BlackRock Inc. grew its stake in Williams Companies by 5.0% in the 1st quarter. BlackRock Inc. now owns 113,613,075 shares of the pipeline company’s stock valued at $3,795,812,000 after acquiring an additional 5,388,309 shares during the last quarter. State Street Corp grew its stake in Williams Companies by 5.1% in the 1st quarter. State Street Corp now owns 88,199,537 shares of the pipeline company’s stock valued at $2,946,747,000 after acquiring an additional 4,301,481 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Williams Companies by 17.1% during the 1st quarter. Bank of America Corp DE now owns 35,897,960 shares of the pipeline company’s stock worth $1,199,352,000 after purchasing an additional 5,244,814 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Williams Companies by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 23,035,416 shares of the pipeline company’s stock worth $598,316,000 after purchasing an additional 577,908 shares during the last quarter. 86.10% of the stock is owned by institutional investors and hedge funds.

Williams Companies Company Profile

(Get Rating)

The Williams Companies, Inc, together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services segments. The Transmission & Gulf of Mexico segment comprises Transco and Northwest natural gas pipelines; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region, as well as various petrochemical and feedstock pipelines.

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