State Street Corp Sells 2,247,554 Shares of The Williams Companies, Inc. (NYSE:WMB)

State Street Corp reduced its stake in shares of The Williams Companies, Inc. (NYSE:WMB) by 3.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,286,431 shares of the pipeline company’s stock after selling 2,247,554 shares during the period. State Street Corp owned about 0.05% of The Williams Companies worth $1,302,528,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Blackstone Group Inc bought a new position in shares of The Williams Companies during the 2nd quarter valued at approximately $632,483,000. Brookfield Asset Management Inc. purchased a new stake in shares of The Williams Companies during the 2nd quarter valued at approximately $205,877,000. CI Investments Inc. lifted its stake in shares of The Williams Companies by 6.9% during the 3rd quarter. CI Investments Inc. now owns 8,806,779 shares of the pipeline company’s stock valued at $173,053,000 after buying an additional 566,508 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of The Williams Companies by 74.8% during the 2nd quarter. Jennison Associates LLC now owns 6,826,068 shares of the pipeline company’s stock valued at $129,832,000 after buying an additional 2,921,897 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of The Williams Companies by 12.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,333,447 shares of the pipeline company’s stock valued at $120,463,000 after buying an additional 689,706 shares in the last quarter. 83.57% of the stock is owned by hedge funds and other institutional investors.

The Williams Companies stock opened at $20.34 on Friday. The firm’s fifty day moving average price is $19.44 and its 200-day moving average price is $19.85. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.90 and a current ratio of 0.96. The stock has a market cap of $24.68 billion, a P/E ratio of 184.93, a price-to-earnings-growth ratio of 3.71 and a beta of 1.72. The Williams Companies, Inc. has a fifty-two week low of $8.41 and a fifty-two week high of $24.17.

The Williams Companies (NYSE:WMB) last posted its quarterly earnings data on Saturday, November 7th. The pipeline company reported $0.27 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.76 billion. The Williams Companies had a net margin of 1.86% and a return on equity of 7.77%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS. On average, analysts predict that The Williams Companies, Inc. will post 1.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, December 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 7.87%. The ex-dividend date is Thursday, December 10th. The Williams Companies’s dividend payout ratio (DPR) is currently 161.62%.

A number of brokerages recently commented on WMB. The Goldman Sachs Group cut shares of The Williams Companies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $21.00 in a research note on Wednesday, October 14th. Royal Bank of Canada restated a “buy” rating on shares of The Williams Companies in a research note on Tuesday, August 11th. Citigroup upped their price target on shares of The Williams Companies from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Credit Suisse Group increased their target price on shares of The Williams Companies from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Finally, TD Securities increased their target price on shares of The Williams Companies from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $23.50.

About The Williams Companies

The Williams Companies, Inc, together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Atlantic-Gulf, Northeast G&P, and West segments. The Atlantic-Gulf segment comprises Transco, an interstate natural gas pipeline; and natural gas gathering and processing, and crude oil production handling and transportation assets.

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Institutional Ownership by Quarter for The Williams Companies (NYSE:WMB)

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