The Williams Companies, Inc. (NYSE:WMB) Shares Acquired by Harvest Portfolios Group Inc.

by · The Cerbat Gem

Harvest Portfolios Group Inc. raised its position in The Williams Companies, Inc. (NYSE:WMB – Free Report) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,801 shares of the pipeline company’s stock after purchasing an additional 708 shares during the period. Harvest Portfolios Group Inc.’s holdings in Williams Companies were worth $5,697,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. SouthState Corp acquired a new stake in Williams Companies in the 2nd quarter worth about $31,000. GHP Investment Advisors Inc. acquired a new stake in shares of Williams Companies in the second quarter worth approximately $34,000. Rosenberg Matthew Hamilton grew its holdings in Williams Companies by 50.4% in the third quarter. Rosenberg Matthew Hamilton now owns 752 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 252 shares during the period. Quarry LP acquired a new position in Williams Companies during the second quarter worth approximately $35,000. Finally, Kimelman & Baird LLC purchased a new position in Williams Companies during the second quarter worth approximately $42,000. 86.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Scotiabank boosted their target price on Williams Companies from $43.00 to $48.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Bank of America assumed coverage on Williams Companies in a research report on Thursday, October 17th. They issued a “buy” rating and a $55.00 target price on the stock. Citigroup boosted their price objective on Williams Companies from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. UBS Group upped their price objective on shares of Williams Companies from $51.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Truist Financial raised their price objective on shares of Williams Companies from $42.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.38.

Get Our Latest Stock Analysis on Williams Companies

Williams Companies Stock Performance

Shares of NYSE:WMB opened at $54.83 on Wednesday. The company’s 50 day simple moving average is $48.19 and its 200 day simple moving average is $44.06. The stock has a market capitalization of $66.82 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 5.84 and a beta of 1.03. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.45 and a quick ratio of 0.39. The Williams Companies, Inc. has a 1 year low of $32.65 and a 1 year high of $55.18.

Williams Companies (NYSE:WMB – Get Free Report) last released its earnings results on Monday, August 5th. The pipeline company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. Williams Companies had a return on equity of 16.17% and a net margin of 27.11%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. As a group, research analysts predict that The Williams Companies, Inc. will post 1.91 EPS for the current fiscal year.

Williams Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.47%. Williams Companies’s payout ratio is currently 81.55%.

Insiders Place Their Bets

In related news, SVP Terrance Lane Wilson sold 2,000 shares of Williams Companies stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $45.29, for a total value of $90,580.00. Following the completion of the sale, the senior vice president now owns 304,200 shares of the company’s stock, valued at approximately $13,777,218. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.44% of the company’s stock.

Williams Companies Profile

(Free Report)

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.

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