Advisors Asset Management Inc. cut its holdings in Williams Partners LP (NYSE:WPZ) by 92.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 7,424 shares of the pipeline company’s stock after selling 85,409 shares during the period. Advisors Asset Management Inc.’s holdings in Williams Partners were worth $2,983,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Guggenheim Capital LLC raised its position in shares of Williams Partners by 50.6% in the 1st quarter. Guggenheim Capital LLC now owns 138,828 shares of the pipeline company’s stock worth $4,780,000 after acquiring an additional 46,651 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Williams Partners by 32.8% in the 2nd quarter. Ballentine Partners LLC now owns 38,605 shares of the pipeline company’s stock worth $1,567,000 after acquiring an additional 9,538 shares in the last quarter. Baldwin Brothers Inc. MA raised its position in shares of Williams Partners by 1,529.0% in the 2nd quarter. Baldwin Brothers Inc. MA now owns 6,516 shares of the pipeline company’s stock worth $264,000 after acquiring an additional 6,116 shares in the last quarter. First Capital Advisors Group LLC. bought a new position in shares of Williams Partners in the 2nd quarter worth about $667,000. Finally, Country Club Trust Company n.a. bought a new position in shares of Williams Partners in the 2nd quarter worth about $200,000. 22.32% of the stock is owned by hedge funds and other institutional investors.
Shares of WPZ opened at $47.37 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.83 and a quick ratio of 0.74. The stock has a market capitalization of $46.26 billion, a PE ratio of 28.71 and a beta of 1.65. Williams Partners LP has a one year low of $32.74 and a one year high of $48.11.
Williams Partners (NYSE:WPZ) last issued its earnings results on Wednesday, August 1st. The pipeline company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.04. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Williams Partners had a return on equity of 5.99% and a net margin of 8.49%. sell-side analysts forecast that Williams Partners LP will post 1.75 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on WPZ shares. Stephens lowered Williams Partners from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective for the company. in a research report on Wednesday, July 25th. Royal Bank of Canada reissued a “hold” rating and issued a $48.00 price objective on shares of Williams Partners in a research report on Friday, August 3rd. ValuEngine raised Williams Partners from a “sell” rating to a “hold” rating in a research report on Monday, June 11th. Finally, TheStreet raised Williams Partners from a “c+” rating to a “b-” rating in a research report on Monday, July 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.72.
About Williams Partners
Williams Partners L.P. operates as an energy infrastructure company. It operates through Northeast G&P, Atlantic-Gulf, and West segments. The Northeast G&P segment engages in natural gas gathering, compression, processing, and NGL fractionation businesses in the Marcellus and Utica shale regions in Pennsylvania, West Virginia, New York, and Ohio.
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