Truist Financial Corp Sells 62,760 Shares of The Williams Companies, Inc. (NYSE:WMB)

Truist Financial Corp trimmed its stake in shares of The Williams Companies, Inc. (NYSE:WMB) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,664,834 shares of the pipeline company’s stock after selling 62,760 shares during the quarter. Truist Financial Corp owned 0.14% of Williams Companies worth $70,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Blackstone Inc. boosted its holdings in shares of Williams Companies by 109.1% in the 1st quarter. Blackstone Inc. now owns 6,466,660 shares of the pipeline company’s stock worth $252,006,000 after acquiring an additional 3,373,800 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Williams Companies by 21.3% in the fourth quarter. Wellington Management Group LLP now owns 11,593,482 shares of the pipeline company’s stock valued at $403,801,000 after buying an additional 2,039,703 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Williams Companies by 40.1% in the first quarter. Jennison Associates LLC now owns 5,753,223 shares of the pipeline company’s stock valued at $224,203,000 after buying an additional 1,647,469 shares in the last quarter. First Financial Bankshares Inc acquired a new stake in shares of Williams Companies in the fourth quarter valued at $56,223,000. Finally, Morningstar Investment Services LLC increased its stake in shares of Williams Companies by 3,821.2% in the fourth quarter. Morningstar Investment Services LLC now owns 1,579,718 shares of the pipeline company’s stock valued at $55,180,000 after buying an additional 1,539,431 shares in the last quarter. 86.44% of the stock is currently owned by institutional investors.

Williams Companies Stock Performance

Shares of WMB stock opened at $46.36 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.45 and a quick ratio of 0.39. The stock has a 50-day moving average of $44.38 and a 200-day moving average of $41.83. The Williams Companies, Inc. has a one year low of $32.49 and a one year high of $46.48. The stock has a market cap of $56.50 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 6.20 and a beta of 1.05.

Williams Companies (NYSE:WMB) last issued its quarterly earnings data on Monday, August 5th. The pipeline company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.05. Williams Companies had a return on equity of 16.17% and a net margin of 27.11%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.46 billion. During the same period in the previous year, the firm earned $0.42 EPS. Williams Companies’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts expect that The Williams Companies, Inc. will post 1.93 earnings per share for the current year.

Williams Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.475 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.90 annualized dividend and a dividend yield of 4.10%. Williams Companies’s dividend payout ratio is presently 79.83%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WMB. Truist Financial raised their target price on Williams Companies from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, June 18th. UBS Group lifted their price objective on Williams Companies from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays lifted their price objective on Williams Companies from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. StockNews.com lowered Williams Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada lifted their price objective on Williams Companies from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.50.

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 natural gas pipelines; Transco, Northwest pipeline, MountainWest, and related natural gas storage facilities; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region.