California Public Employees Retirement System lifted its position in shares of Williams Partners LP (NYSE:WPZ) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 461,323 shares of the pipeline company’s stock after purchasing an additional 15,500 shares during the period. California Public Employees Retirement System’s holdings in Williams Partners were worth $17,890,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Saratoga Research & Investment Management bought a new position in shares of Williams Partners during the third quarter worth approximately $188,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Williams Partners during the fourth quarter worth approximately $187,000. CAPROCK Group Inc. bought a new position in shares of Williams Partners during the fourth quarter worth approximately $217,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Williams Partners during the second quarter worth approximately $241,000. Finally, Comerica Bank acquired a new stake in Williams Partners during the fourth quarter worth approximately $318,000. Institutional investors own 21.78% of the company’s stock.
WPZ has been the topic of a number of analyst reports. Stifel Nicolaus set a $45.00 price target on Williams Partners and gave the stock a “buy” rating in a research report on Friday, December 1st. Jefferies Group reissued a “buy” rating and set a $45.00 price target on shares of Williams Partners in a research report on Wednesday, December 20th. US Capital Advisors raised Williams Partners from a “hold” rating to a “buy” rating in a research report on Thursday, January 4th. Credit Suisse Group initiated coverage on Williams Partners in a research report on Thursday, January 4th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, Royal Bank of Canada reissued a “hold” rating and set a $47.00 price target on shares of Williams Partners in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $46.20.
In other Williams Partners news, insider John D. Seldenrust sold 6,770 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $38.76, for a total value of $262,405.20. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Williams Partners LP (WPZ) opened at $38.05 on Friday. The firm has a market capitalization of $37,050.00, a price-to-earnings ratio of 42.28, a price-to-earnings-growth ratio of 2.69 and a beta of 1.43. Williams Partners LP has a twelve month low of $34.74 and a twelve month high of $44.06. The company has a quick ratio of 0.99, a current ratio of 1.06 and a debt-to-equity ratio of 0.65.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, February 2nd were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date of this dividend was Thursday, February 1st. Williams Partners’s dividend payout ratio is presently 266.67%.
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Williams Partners Profile
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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