Adell Harriman & Carpenter Inc. grew its position in Williams Partners LP (NYSE:WPZ) by 13.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 15,186 shares of the pipeline company’s stock after acquiring an additional 1,777 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Williams Partners were worth $589,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. bought a new position in shares of Williams Partners in the fourth quarter worth approximately $187,000. Saratoga Research & Investment Management bought a new position in shares of Williams Partners in the third quarter worth approximately $188,000. Balentine LLC boosted its position in shares of Williams Partners by 10.6% in the second quarter. Balentine LLC now owns 4,788 shares of the pipeline company’s stock worth $192,000 after purchasing an additional 457 shares during the period. CAPROCK Group Inc. bought a new position in shares of Williams Partners in the fourth quarter worth approximately $217,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Williams Partners in the second quarter worth approximately $241,000. Institutional investors and hedge funds own 22.11% of the company’s stock.
Williams Partners LP (NYSE WPZ) opened at $39.32 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.06. Williams Partners LP has a 12-month low of $34.74 and a 12-month high of $44.06. The firm has a market cap of $38,290.00, a price-to-earnings ratio of 28.09, a P/E/G ratio of 2.67 and a beta of 1.43.
In related news, insider John D. Seldenrust sold 6,770 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $38.76, for a total transaction of $262,405.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan S. Armstrong bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average price of $35.00 per share, with a total value of $175,000.00. The disclosure for this purchase can be found here.
WPZ has been the subject of a number of recent analyst reports. Wells Fargo & Co dropped their price target on shares of Williams Partners from $49.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, October 10th. BMO Capital Markets set a $47.00 price target on shares of Williams Partners and gave the stock a “buy” rating in a research report on Friday, October 13th. BidaskClub lowered shares of Williams Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, October 20th. Stifel Nicolaus set a $45.00 price target on shares of Williams Partners and gave the stock a “buy” rating in a research report on Friday, December 1st. Finally, Barclays lowered shares of Williams Partners from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $47.00 to $45.00 in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $46.00.
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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