Shares of Williams Partners L.P. (NYSE:WPZ) saw unusually-strong trading volume on Monday following a dividend announcement from the company,AnalystRatings.NET reports. Approximately 3,539,725 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 3,927,790 shares.The stock last traded at $23.27 and had previously closed at $21.45.
The newly announced dividend which will be paid on Friday, February 12th. Investors of record on Friday, February 5th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 15.85%.
Several equities research analysts recently weighed in on WPZ shares. Jefferies Group reduced their price objective on shares of Williams Partners L.P. to $39.00 in a report on Thursday, January 14th. Credit Suisse reduced their price objective on shares of Williams Partners L.P. from $61.00 to $42.00 in a report on Friday, October 30th. Evercore ISI started coverage on shares of Williams Partners L.P. in a report on Wednesday, October 21st. They issued a “buy” rating and a $38.00 price objective for the company. Ladenburg Thalmann raised shares of Williams Partners L.P. from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday, November 3rd. Finally, Zacks Investment Researchraised shares of Williams Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $46.71.
The company’s market cap is $13.40 billion. The stock has a 50 day moving average of $23.34 and a 200-day moving average of $34.20.
Williams Partners L.P. (NYSE:WPZ) last released its quarterly earnings data on Wednesday, October 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.50. Analysts expect that Williams Partners L.P. will post $0.76 earnings per share for the current year.
A number of hedge funds and institutional investors recently added to or reduced their stakes in the company. BB&T Securities raised its position in Williams Partners L.P. by 5.3% in the fourth quarter. BB&T Securities now owns 18,335 shares of the company’s stock valued at $510,000 after buying an additional 920 shares in the last quarter. Capital One National Association raised its position in Williams Partners L.P. by 10.6% in the fourth quarter. Capital One National Association now owns 15,615 shares of the company’s stock valued at $435,000 after buying an additional 1,494 shares in the last quarter. Searle & Company raised its position in Williams Partners L.P. by 20.6% in the fourth quarter. Searle & Company now owns 10,034 shares of the company’s stock valued at $285,000 after buying an additional 1,717 shares in the last quarter. Taylor Wealth Management Partners raised its position in Williams Partners L.P. by 46.9% in the fourth quarter. Taylor Wealth Management Partners now owns 5,975 shares of the company’s stock valued at $166,000 after buying an additional 1,908 shares in the last quarter. Finally, Saturna Capital bought a new position in Williams Partners L.P. during the third quarter valued at about $62,000.
Williams Partners L.P., formerly Access Midstream Partners, L.P., owns, operates, develops and acquires natural gas, natural gas liquids (NYSE:WPZ) and oil gathering systems, and other midstream energy assets. The Company’s business segments include Access Midstream, Northeast G&P, Atlantic-Gulf, West and NGL & Petchem Services. The Access Midstream segment provides gathering, treating, and compression services to producers. The Northeast G&P segment includes natural gas gathering and processing and NGL fractionation businesses. Atlantic-Gulf segment includes its interstate natural gas pipeline, Transcontinental Gas Pipeline Company, LLC (Transco), and natural gas gathering and processing and crude oil production handling and transportation. The NGL & Petchem Services segment includes its 88.5% interest in an olefins production facility in Geismar, Louisiana, along with an RGP Splitter and various petrochemical and feedstock pipelines.
Williams Partners L.P. (WPZ) Sees Strong Trading Volume Following Dividend Announcement
Shares of Williams Partners L.P. (NYSE:WPZ) saw unusually-strong trading volume on Monday following a dividend announcement from the company, AnalystRatings.NET reports. Approximately 3,539,725 shares were traded during mid-day trading, a decline of 10% from the previous session's volume of 3,927,790 shares.The stock last traded at $23.27 and had previously closed at $21.45.
No comments:
Post a Comment