Williams Partners LP (NYSE:WPZ) declared a quarterly dividend on Monday, July 24th, RTT News reports. Shareholders of record on Friday, August 4th will be paid a dividend of 0.60 per share by the pipeline company on Friday, August 11th. This represents a $2.40 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend is Wednesday, August 2nd.
Williams Partners has decreased its dividend by an average of 0.1% annually over the last three years. Williams Partners has a payout ratio of 131.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Williams Partners to earn $1.78 per share next year, which means the company may not be able to cover its $2.40 annual dividend with an expected future payout ratio of 134.8%.
Williams Partners (NYSE WPZ) traded up 0.08% during mid-day trading on Friday, reaching $37.74. 560,549 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $40.03 and a 200-day moving average of $40.11. Williams Partners has a 12 month low of $32.93 and a 12 month high of $42.32. The firm has a market cap of $36.07 billion, a price-to-earnings ratio of 22.69 and a beta of 1.43.
WPZ has been the topic of several recent research reports. Credit Suisse Group raised shares of Williams Partners from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $45.00 to $47.00 in a report on Friday, May 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price objective on shares of Williams Partners in a report on Friday, July 21st. BidaskClub raised shares of Williams Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Zacks Investment Research raised shares of Williams Partners from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Tuesday, July 18th. Finally, BMO Capital Markets set a $47.00 price objective on shares of Williams Partners and gave the company a “buy” rating in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $44.77.
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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