Gradient Investments LLC lifted its stake in The Williams Companies, Inc. (NYSE:WMB – Get Rating) by 8,267.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,606 shares of the pipeline company’s stock after acquiring an additional 5,539 shares during the period. Gradient Investments LLC’s holdings in Williams Companies were worth $175,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in WMB. Norges Bank bought a new position in shares of Williams Companies in the 4th quarter worth $243,127,000. BlackRock Inc. increased its position in Williams Companies by 8.0% during the 4th quarter. BlackRock Inc. now owns 108,224,766 shares of the pipeline company’s stock valued at $2,818,173,000 after buying an additional 8,047,294 shares in the last quarter. Royal Bank of Canada increased its position in Williams Companies by 85.8% during the 1st quarter. Royal Bank of Canada now owns 16,352,215 shares of the pipeline company’s stock valued at $546,327,000 after buying an additional 7,551,749 shares in the last quarter. Vanguard Group Inc. increased its position in Williams Companies by 6.3% during 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 buying an additional 7,243,812 shares in the last quarter. Finally, Bank of America Corp DE increased its position in 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 valued at $1,199,352,000 after buying an additional 5,244,814 shares in the last quarter. 85.40% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on WMB. The Goldman Sachs Group lowered Williams Companies from a “neutral” rating to a “sell” rating and reduced their target price for the company from $35.00 to $30.00 in a research report on Wednesday, September 7th. Raymond James upped their target price on Williams Companies from $40.00 to $42.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 3rd. US Capital Advisors reaffirmed a “hold” rating on shares of Williams Companies in a research report on Wednesday, June 1st. Mizuho boosted their price target on Williams Companies from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Wells Fargo & Company boosted their price target on Williams Companies from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.86.
Williams Companies Stock Performance
Williams Companies (NYSE:WMB – Get Rating) last issued its quarterly earnings results on Monday, August 1st. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The business had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Williams Companies had a return on equity of 13.43% and a net margin of 14.57%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 EPS. Analysts expect that The Williams Companies, Inc. will post 1.48 EPS for the current fiscal year.
Williams Companies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Friday, September 9th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.70 dividend on an annualized basis and a yield of 5.34%. Williams Companies’s dividend payout ratio is currently 132.81%.
Williams Companies Company Profile
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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