Williams Companies, Inc. (The) $WMB Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Williams Companies stake by 21.2% in the third quarter, adding 302,258 shares to hold about 1.73 million shares valued at $119.6 million. Institutional investors collectively own 86.44% of the company.
• Williams reported quarterly EPS of $0.54, in line with estimates, while revenue of $3.22 billion exceeded forecasts and rose 10.3% year over year.
• The company announced a quarterly dividend of $0.525 per share, equivalent to $2.10 annually and a 3.2% yield. Analysts’ consensus rating is “Buy,” with an average price target of $86.33.

Allspring Global Investments Holdings LLC grew its holdings in Williams Companies, Inc. (The) (NYSE:WMB - Free Report) by 21.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,727,718 shares of the pipeline company's stock after acquiring an additional 302,258 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of Williams Companies worth $119,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WMB. Main Street Group LTD acquired a new stake in Williams Companies in the 1st quarter valued at $26,000. James T. Borello RIA acquired a new position in shares of Williams Companies during the third quarter worth about $27,000. Allied Private Wealth LLC acquired a new position in shares of Williams Companies during the second quarter worth about $28,000. Bayforest Capital Ltd acquired a new position in shares of Williams Companies during the second quarter worth about $28,000. Finally, Bfsg LLC purchased a new stake in shares of Williams Companies in the third quarter worth about $28,000. Institutional investors and hedge funds own 86.44% of the company's stock.

Williams Companies Price Performance

WMB stock opened at $66.51 on Tuesday. The stock's 50 day moving average is $71.63 and its two-hundred day moving average is $72.47. Williams Companies, Inc. has a 52-week low of $58.09 and a 52-week high of $80.07. The company has a market capitalization of $83.16 billion, a PE ratio of 29.25, a P/E/G ratio of 1.45 and a beta of 0.62. The company has a quick ratio of 0.43, a current ratio of 0.75 and a debt-to-equity ratio of 1.48.

Williams Companies (NYSE:WMB - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The pipeline company reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. Williams Companies had a net margin of 24.99% and a return on equity of 17.02%. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The firm's quarterly revenue was up 10.3% on a year-over-year basis. Analysts predict that Williams Companies, Inc. will post 2.39 earnings per share for the current fiscal year.

Williams Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, December 11th will be given a $0.5250 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $2.10 annualized dividend and a dividend yield of 3.2%. Williams Companies's payout ratio is presently 82.68%.

Insider Buying and Selling at Williams Companies

In other news, SVP Terrance Wilson sold 2,000 shares of the company's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $74.17, for a total value of $148,340.00. Following the sale, the senior vice president owned 260,259 shares in the company, valued at approximately $19,303,410.03. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 19,000 shares of company stock valued at $1,408,470. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Melius Research assumed coverage on Williams Companies in a research note on Tuesday, September 22nd. They issued a "buy" rating and a $84.00 target price for the company. Jefferies Financial Group dropped their target price on Williams Companies from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, October 14th. Canadian Imperial Bank of Commerce reduced their price target on Williams Companies from $85.00 to $82.00 and set an "outperformer" rating on the stock in a research report on Thursday, October 22nd. Scotiabank decreased their price target on Williams Companies from $86.00 to $85.00 and set a "sector outperform" rating for the company in a report on Thursday, September 10th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Williams Companies in a research report on Monday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Williams Companies currently has a consensus rating of "Buy" and a consensus target price of $86.33.

About Williams Companies

Williams Companies is an energy infrastructure company focused primarily on gathering, processing, transporting and storing natural gas. Its systems connect natural gas-producing regions with utilities, power generators, industrial customers and other energy markets.

The company operates pipelines and related facilities across the United States. Its Transco pipeline system carries natural gas from the Gulf Coast and other supply areas to customers along the East Coast, while its gathering and processing operations serve producers in regions including the Northeast, the West and the Gulf Coast.

Williams traces its roots to 1908, when brothers Miller and David Williams established a construction business that later expanded into energy infrastructure.

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