Williams Companies (NYSE:WMB) Sets New 12-Month High Following Better-Than-Expected Earnings

The Williams Companies, Inc. (NYSE:WMB)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a better than expected earnings announcement. The stock traded as high as $39.99 and last traded at $39.89, with a volume of 966804 shares changing hands. The stock had previously closed at $39.06.

The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.10. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Williams Companies had a net margin of 29.22% and a return on equity of 16.20%. Williams Companies’s revenue for the quarter was down 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share.

Williams Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be given a dividend of $0.475 per share. The ex-dividend date is Friday, June 7th. This represents a $1.90 annualized dividend and a dividend yield of 4.81%. Williams Companies’s dividend payout ratio is presently 72.52%.

Wall Street Analyst Weigh In

WMB has been the topic of several research reports. UBS Group increased their price target on shares of Williams Companies from $43.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Wolfe Research reissued an “underperform” rating and set a $34.00 price target on shares of Williams Companies in a research report on Thursday, April 18th. Barclays upped their target price on shares of Williams Companies from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Truist Financial upped their target price on shares of Williams Companies from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Monday, March 25th. Finally, US Capital Advisors lowered shares of Williams Companies from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Williams Companies has an average rating of “Hold” and an average price target of $39.22.

Hedge Funds Weigh In On Williams Companies

Several hedge funds have recently added to or reduced their stakes in WMB. Western Pacific Wealth Management LP purchased a new position in Williams Companies in the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Williams Companies in the fourth quarter valued at approximately $26,000. Rise Advisors LLC purchased a new position in Williams Companies in the first quarter valued at approximately $27,000. Carmel Capital Partners LLC purchased a new position in Williams Companies in the third quarter valued at approximately $31,000. Finally, Fairman Group LLC purchased a new position in shares of Williams Companies during the fourth quarter worth approximately $31,000. 86.44% of the stock is currently owned by hedge funds and other institutional investors.

Williams Companies Trading Up 1.2 %

The company has a debt-to-equity ratio of 1.57, a current ratio of 0.77 and a quick ratio of 0.73. The firm has a market capitalization of $48.18 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 6.07 and a beta of 1.05. The business’s 50-day moving average price is $37.93 and its 200-day moving average price is $36.03.

Williams Companies Company Profile

The Williams Companies, Inc, together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services segments. The Transmission & Gulf of Mexico segment comprises natural gas pipelines; Transco, Northwest pipeline, MountainWest, and related natural gas storage facilities; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region.