Reaves W H & Co. Inc. boosted its holdings in shares of Williams Partners LP (NYSE:WPZ) by 128.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 445,000 shares of the pipeline company’s stock after purchasing an additional 250,000 shares during the quarter. Reaves W H & Co. Inc.’s holdings in Williams Partners were worth $17,311,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of WPZ. Center Coast Capital Advisors LP bought a new stake in Williams Partners during the 2nd quarter valued at approximately $183,318,000. Alps Advisors Inc. raised its stake in Williams Partners by 11.4% during the 3rd quarter. Alps Advisors Inc. now owns 20,559,321 shares of the pipeline company’s stock valued at $799,758,000 after purchasing an additional 2,105,286 shares during the period. Balyasny Asset Management LLC raised its stake in Williams Partners by 9,962.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,428,863 shares of the pipeline company’s stock valued at $57,312,000 after purchasing an additional 1,414,663 shares during the period. Parametric Portfolio Associates LLC increased its stake in Williams Partners by 297.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 653,260 shares of the pipeline company’s stock worth $26,202,000 after acquiring an additional 488,919 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new stake in Williams Partners in the 2nd quarter worth approximately $13,490,000. 22.78% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on WPZ. BidaskClub downgraded Williams Partners from a “sell” rating to a “strong sell” rating in a research note on Friday, October 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $44.00 target price on shares of Williams Partners in a report on Monday, October 16th. BMO Capital Markets set a $47.00 target price on Williams Partners and gave the company a “buy” rating in a research report on Friday, October 13th. Wells Fargo & Company reduced their price target on Williams Partners from $49.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, October 10th. Finally, Wolfe Research assumed coverage on Williams Partners in a research report on Monday, September 25th. They issued an “outperform” rating and a $45.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $44.93.
Williams Partners LP (NYSE WPZ) traded down $0.39 during trading on Friday, reaching $35.02. The company’s stock had a trading volume of 1,364,000 shares, compared to its average volume of 1,165,658. Williams Partners LP has a one year low of $33.12 and a one year high of $42.32. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.06. The firm has a market capitalization of $34,210.00, a PE ratio of 23.30, a PEG ratio of 2.59 and a beta of 1.46.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 10th. Shareholders of record on Friday, November 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend was Thursday, November 2nd. Williams Partners’s dividend payout ratio is presently 171.43%.
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In other Williams Partners news, CEO Alan S. Armstrong acquired 5,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were bought at an average price of $35.00 per share, with a total value of $175,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director H Brent Austin acquired 1,000 shares of the stock in a transaction on Friday, September 22nd. The stock was acquired at an average cost of $38.66 per share, for a total transaction of $38,660.00. Following the acquisition, the director now directly owns 9,958 shares in the company, valued at approximately $384,976.28. The disclosure for this purchase can be found here.
About Williams Partners
Williams Partners L.P. is an energy infrastructure company. The Company has operations across the natural gas value chain from gathering, processing, and interstate transportation of natural gas and natural gas liquids to petchem production of ethylene, propylene, and other olefins. It operates through its Northeast G&P, Atlantic-Gulf, West segment.
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