QS Investors LLC cut its holdings in The Williams Companies, Inc. (NYSE:WMB) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,965 shares of the pipeline company’s stock after selling 6,858 shares during the quarter. QS Investors LLC’s holdings in The Williams Companies were worth $4,274,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. TD Capital Management LLC purchased a new stake in shares of The Williams Companies in the second quarter valued at approximately $25,000. Cowen Prime Advisors LLC purchased a new stake in shares of The Williams Companies in the second quarter valued at approximately $27,000. TCI Wealth Advisors Inc. increased its position in shares of The Williams Companies by 35.8% during the second quarter. TCI Wealth Advisors Inc. now owns 1,942 shares of the pipeline company’s stock worth $52,000 after purchasing an additional 512 shares in the last quarter. IronBridge Private Wealth LLC purchased a new stake in shares of The Williams Companies during the first quarter worth approximately $50,000. Finally, Sound Income Strategies LLC increased its position in shares of The Williams Companies by 325.7% during the second quarter. Sound Income Strategies LLC now owns 2,133 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 1,632 shares in the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.
In other news, SVP Walter J. Bennett sold 43,975 shares of the company’s stock in a transaction on Friday, October 8th. The stock was sold at an average price of $28.00, for a total value of $1,231,300.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company’s stock.
The Williams Companies (NYSE:WMB) last announced its quarterly earnings results on Sunday, August 1st. The pipeline company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $2.07 billion. During the same period last year, the company earned $0.25 EPS. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. As a group, equities analysts expect that The Williams Companies, Inc. will post 1.18 earnings per share for the current year.
The Williams Companies declared that its board has initiated a stock buyback program on Wednesday, September 8th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the pipeline company to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared 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 annualized dividend and a dividend yield of 5.67%. The ex-dividend date was Thursday, September 9th. The Williams Companies’s dividend payout ratio (DPR) is presently 149.09%.
Several brokerages recently commented on WMB. Zacks Investment Research cut The Williams Companies from a “hold” rating to a “sell” rating and set a $26.00 price target for the company. in a research report on Tuesday, August 17th. Raymond James boosted their price target on 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 began coverage on The Williams Companies in a research report on Tuesday, September 28th. They set a “buy” rating for the company. Finally, Wells Fargo & Company boosted their price target on The Williams Companies from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, June 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Williams Companies has a consensus rating of “Buy” and a consensus price target of $27.33.
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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