Cushing Asset Management LP increased its position in shares of Williams Partners LP (NYSE:WPZ) by 14.1% during the 4th quarter, Holdings Channel reports. The fund owned 3,350,990 shares of the pipeline company’s stock after acquiring an additional 412,874 shares during the quarter. Williams Partners comprises approximately 3.9% of Cushing Asset Management LP’s portfolio, making the stock its 5th biggest holding. Cushing Asset Management LP’s holdings in Williams Partners were worth $129,952,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors acquired a new position in shares of Williams Partners during the 4th quarter valued at about $174,000. Stuart Chaussee & Associates Inc. acquired a new position in shares of Williams Partners during the 4th quarter valued at about $187,000. Capital Analysts LLC boosted its position in shares of Williams Partners by 1,432.4% during the 4th quarter. Capital Analysts LLC now owns 6,865 shares of the pipeline company’s stock valued at $191,000 after acquiring an additional 6,417 shares during the last quarter. CAPROCK Group Inc. acquired a new position in shares of Williams Partners during the 4th quarter valued at about $217,000. Finally, Pitcairn Co. acquired a new position in shares of Williams Partners during the 4th quarter valued at about $221,000. 22.13% of the stock is currently owned by hedge funds and other institutional investors.
In other Williams Partners news, insider John D. Seldenrust sold 6,770 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $38.76, for a total value of $262,405.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Williams Partners LP (NYSE WPZ) opened at $37.48 on Tuesday. Williams Partners LP has a 1 year low of $34.74 and a 1 year high of $44.06. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $36,500.00, a PE ratio of 41.64 and a beta of 1.50.
WPZ has been the topic of several recent research reports. Stifel Nicolaus set a $45.00 price target on shares of Williams Partners and gave the company 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 shares of Williams Partners from a “hold” rating to a “buy” rating in a research report on Thursday, January 4th. Credit Suisse Group initiated coverage on shares of 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, three have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.26.
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Williams Partners Company 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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