Shares of The Williams Companies, Inc. (NYSE:WMB – Get Rating) fell 5.1% on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $32.21 and last traded at $32.27. 160,408 shares changed hands during trading, a decline of 98% from the average session volume of 6,713,449 shares. The stock had previously closed at $34.00.
The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.04). The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Williams Companies had a net margin of 13.95% and a return on equity of 12.20%. The company’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share.
Williams Companies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Friday, September 9th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Thursday, September 8th. Williams Companies’s dividend payout ratio (DPR) is 141.67%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. TD Securities raised their price objective on shares of Williams Companies from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, May 4th. Mizuho raised their price objective on shares of Williams Companies from $35.00 to $39.00 in a research report on Wednesday, May 4th. Wells Fargo & Company lowered their price objective on shares of Williams Companies from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Friday, May 20th. US Capital Advisors reissued a “hold” rating on shares of Williams Companies in a research report on Wednesday, June 1st. Finally, Raymond James raised their price objective on shares of Williams Companies from $36.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 20th. Five 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.54.
Insider Activity at Williams Companies
In related news, SVP Debbie L. Cowan sold 36,228 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $37.75, for a total value of $1,367,607.00. Following the completion of the sale, the senior vice president now owns 62,891 shares in the company, valued at $2,374,135.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.43% of the company’s stock.
Hedge Funds Weigh In On Williams Companies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in Williams Companies during the first quarter worth about $27,000. Clearstead Advisors LLC acquired a new position in Williams Companies during the first quarter worth about $28,000. Total Clarity Wealth Management Inc. acquired a new position in Williams Companies during the second quarter worth about $26,000. American National Bank grew its holdings in shares of Williams Companies by 63.6% during the first quarter. American National Bank now owns 908 shares of the pipeline company’s stock worth $30,000 after buying an additional 353 shares in the last quarter. Finally, Atwood & Palmer Inc. grew its holdings in shares of Williams Companies by 306.4% during the first quarter. Atwood & Palmer Inc. now owns 951 shares of the pipeline company’s stock worth $32,000 after buying an additional 717 shares in the last quarter. Institutional investors and hedge funds own 86.10% of the company’s stock.
Williams Companies Trading Down 3.7 %
The firm has a market capitalization of $39.89 billion, a PE ratio of 28.33, a P/E/G ratio of 6.47 and a beta of 1.19. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.49. The business’s fifty day moving average price is $33.15 and its 200 day moving average price is $32.77.
About Williams Companies
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 Transco and Northwest natural gas pipelines; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region, as well as various petrochemical and feedstock pipelines.