Bank of New York Mellon Corp increased its stake in shares of Williams Partners LP (NYSE:WPZ) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,485 shares of the pipeline company’s stock after buying an additional 4,807 shares during the period. Bank of New York Mellon Corp’s holdings in Williams Partners were worth $4,428,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of WPZ. Advisory Services Network LLC bought a new position in Williams Partners during the first quarter valued at about $127,000. Quadrature Capital Ltd bought a new position in Williams Partners during the fourth quarter valued at about $268,000. Capital Investment Advisory Services LLC bought a new position in Williams Partners during the first quarter valued at about $326,000. Biondo Investment Advisors LLC raised its position in Williams Partners by 6.5% in the first quarter. Biondo Investment Advisors LLC now owns 10,172 shares of the pipeline company’s stock valued at $366,000 after buying an additional 624 shares during the period. Finally, Adell Harriman & Carpenter Inc. raised its position in Williams Partners by 28.8% in the first quarter. Adell Harriman & Carpenter Inc. now owns 10,286 shares of the pipeline company’s stock valued at $420,000 after buying an additional 2,300 shares during the period. Institutional investors own 23.35% of the company’s stock.
Shares of Williams Partners LP (WPZ) opened at 40.36 on Monday. Williams Partners LP has a 12-month low of $32.93 and a 12-month high of $42.32. The firm has a market cap of $38.56 billion, a P/E ratio of 40.52 and a beta of 1.43. The company’s 50 day moving average price is $39.21 and its 200-day moving average price is $39.72.
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Several research firms have issued reports on WPZ. Jefferies Group LLC set a $42.00 target price on Williams Partners and gave the company a “hold” rating in a research note on Saturday, June 17th. BidaskClub upgraded Williams Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. BMO Capital Markets set a $47.00 price target on Williams Partners and gave the stock a “buy” rating in a research note on Monday, June 5th. TheStreet upgraded Williams Partners from a “c+” rating to a “b-” rating in a research note on Tuesday, May 30th. Finally, Citigroup Inc. upgraded Williams Partners from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $46.00 in a research note on Friday, April 7th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $42.79.
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, and Natural gas liquid (NGL) & Petchem Services segments.
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