Stock Update: Williams Companies Inc (NYSE:WMB) – Williams Partners, Shell and Nexen Reach Agreement on Deepwater Gulf Project
March 11, 2016 at 08:00 AM EST
[Business Wire] – Williams Partners L.P. announced today that it has reached an agreement with Shell Offshore Inc. and Nexen Petroleum Offshore U.S.A. Inc. to provide deepwater gas gathering services to the Appomattox development, located 80 miles offshore from the nearest shoreline in Louisiana, in approximately 7,200 feet of water. Read more on this. Williams Companies, Inc. (WMB) , with a current market cap of $12.23B, began trading this morning at $16.41. Today’s price range has been between $15.92 and $16.59 per share with its 52-week range being $10.22 to $61.38. WMB shares are currently priced at 15.48x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 2.97x earnings multiple. The company pays shareholders $2.56 per share annually in dividends, yielding 13.43%. According to a consensus of 6 analysts, the earnings estimate of $0.27 per share would be $0.11 better than the year-ago quarter and a $0.04 sequential increase. The full-year EPS estimate is $1.16, which would be a $0.62 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.07 Billion. If realized, that would be a 20.35% increase over the year-ago quarter. Recently, Jefferies upgraded WMB from Hold to Buy (Dec 18, 2015). Previously, Scotia Howard Weil downgraded WMB from Sector Outperform to Sector Perform. Given all the information above, we should disclose to readers that the average price target is $34.64, which is 111.09% above than it opened this morning. See more in (NYSE:WMB) Similar Articles: Market Update: Williams Companies Inc (NYSE:WMB) – Williams Announces Filing of Its Annual Report on Form 10-K Company Update: Williams Companies Inc (NYSE:WMB) – Williams and Williams Partners Announce 2016 Capital and Financing Plan, Cost Reductions and Fourth Quarter Operational Update Company Update (NYSE:WMB): WILLIAMS COMPANIES INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of The Williams Companies, Inc.