Patten Group Inc. cut its stake in Williams Companies Inc (NYSE:WMB) by 2.9% in the first quarter, HoldingsChannel.com reports. The firm owned 24,526 shares of the pipeline company’s stock after selling 725 shares during the quarter. Patten Group Inc.’s holdings in Williams Companies were worth $704,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc boosted its stake in Williams Companies by 47.6% in the 3rd quarter. Vanguard Group Inc now owns 93,159,173 shares of the pipeline company’s stock worth $2,532,998,000 after purchasing an additional 30,031,200 shares during the period. Geode Capital Management LLC boosted its stake in shares of Williams Companies by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 15,722,127 shares of the pipeline company’s stock worth $346,152,000 after buying an additional 1,124,517 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Williams Companies by 1.9% during the 1st quarter. Northern Trust Corp now owns 14,854,724 shares of the pipeline company’s stock worth $426,629,000 after buying an additional 281,665 shares during the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Williams Companies by 1.4% during the 1st quarter. Chickasaw Capital Management LLC now owns 13,607,626 shares of the pipeline company’s stock worth $390,811,000 after buying an additional 184,192 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Williams Companies during the 4th quarter worth about $257,472,000. 88.10% of the stock is owned by hedge funds and other institutional investors.
WMB has been the subject of a number of recent research reports. Mizuho set a $32.00 price objective on shares of Williams Companies and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Bank of America set a $30.00 price objective on shares of Williams Companies and gave the stock a “buy” rating in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. Williams Companies presently has an average rating of “Buy” and an average price target of $32.33.
Williams Companies (NYSE:WMB) last issued its earnings results on Wednesday, May 1st. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.02). The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.30 billion. Williams Companies had a negative net margin of 1.29% and a positive return on equity of 5.56%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. Sell-side analysts predict that Williams Companies Inc will post 0.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, June 7th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.63%. Williams Companies’s payout ratio is 192.41%.
In other news, Director Stephen I. Chazen bought 10,000 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were bought at an average cost of $27.33 per share, with a total value of $273,300.00. Following the acquisition, the director now owns 45,730 shares in the company, valued at $1,249,800.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ted T. Timmermans sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $26.06, for a total transaction of $130,300.00. Following the completion of the sale, the vice president now directly owns 18,666 shares in the company, valued at $486,435.96. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.
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Williams Companies Company Profile
The Williams Companies, Inc operates as an energy infrastructure company primarily in the United States. The company's Northeast G&P segment engages in the natural gas gathering, compression, and processing business, as well as natural gas liquids (NGL) fractionation business in the Marcellus and Utica Shale regions in Pennsylvania, West Virginia, New York, and Ohio.
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