APG Asset Management N.V. boosted its stake in shares of The Williams Companies, Inc. (NYSE:WMB) by 12.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,664,161 shares of the pipeline company’s stock after buying an additional 400,803 shares during the quarter. APG Asset Management N.V.’s holdings in The Williams Companies were worth $82,033,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in WMB. Mercer Global Advisors Inc. ADV grew its position in shares of The Williams Companies by 90.8% in the first quarter. Mercer Global Advisors Inc. ADV now owns 34,836 shares of the pipeline company’s stock valued at $825,000 after purchasing an additional 16,581 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of The Williams Companies by 69.3% in the first quarter. Quadrant Capital Group LLC now owns 10,144 shares of the pipeline company’s stock valued at $240,000 after purchasing an additional 4,153 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of The Williams Companies in the first quarter valued at approximately $204,000. Ensign Peak Advisors Inc grew its position in shares of The Williams Companies by 97.5% in the first quarter. Ensign Peak Advisors Inc now owns 211,830 shares of the pipeline company’s stock valued at $5,019,000 after purchasing an additional 104,568 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of The Williams Companies by 16.7% in the first quarter. Prudential Financial Inc. now owns 1,500,826 shares of the pipeline company’s stock valued at $35,555,000 after purchasing an additional 214,858 shares during the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.
A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of The Williams Companies from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. Raymond James raised their target price on shares of The Williams Companies from $28.00 to $30.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 21st. Bank of America assumed coverage on shares of The Williams Companies in a research report on Tuesday, September 28th. They set a “buy” rating on the stock. Finally, Zacks Investment Research lowered shares of The Williams Companies from a “hold” rating to a “sell” rating and set a $26.00 target price on the stock. in a research report on Tuesday, August 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $27.33.
The Williams Companies (NYSE:WMB) last issued its earnings results on Sunday, August 1st. The pipeline company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The Williams Companies had a net margin of 12.94% and a return on equity of 10.13%. The business had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the business posted $0.25 EPS. The business’s revenue was up 28.2% on a year-over-year basis. Research analysts forecast that The Williams Companies, Inc. will post 1.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 27th. Stockholders of record on Friday, September 10th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date was Thursday, September 9th. The Williams Companies’s dividend payout ratio is presently 149.09%.
The Williams Companies declared that its Board of Directors has authorized a stock buyback program on Wednesday, September 8th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the pipeline company to purchase up to 5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other news, SVP Walter J. Bennett sold 43,975 shares of the firm’s stock in a transaction on Friday, October 8th. The shares were sold at an average price of $28.00, for a total value of $1,231,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.34% of the company’s stock.
About The Williams Companies
The Williams Cos., Inc operates as an energy infrastructure company, which explores, produces, transports, sells and processes natural gas and petroleum products. It operates through the following segments: Transmission and Gulf of Mexico; Northeast G&P; and West. The Transmission and Gulf of Mexico segment comprises of interstate natural gas pipelines, Transco and Northwest Pipeline, as well as natural gas gathering and processing and crude oil production handling and transportation assets in the Gulf Coast region.
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