Boothbay Fund Management LLC Makes New $270,000 Investment in The Williams Companies, Inc. (NYSE:WMB)

Posted by Defense World Staff on Mar 4th, 2023

Boothbay Fund Management LLC purchased a new position in The Williams Companies, Inc. (NYSE:WMB – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 9,439 shares of the pipeline company’s stock, valued at approximately $270,000.

A number of other large investors have also bought and sold shares of the stock. Nations Financial Group Inc. IA ADV increased its stake in Williams Companies by 2.2% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 13,880 shares of the pipeline company’s stock worth $397,000 after purchasing an additional 300 shares during the period. Independent Advisor Alliance increased its stake in Williams Companies by 2.1% in the 3rd quarter. Independent Advisor Alliance now owns 14,708 shares of the pipeline company’s stock worth $421,000 after purchasing an additional 309 shares during the period. Salem Investment Counselors Inc. increased its stake in Williams Companies by 52.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 915 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 315 shares during the period. RMB Capital Management LLC grew its position in shares of Williams Companies by 3.0% in the 2nd quarter. RMB Capital Management LLC now owns 12,017 shares of the pipeline company’s stock worth $375,000 after buying an additional 349 shares during the last quarter. Finally, Northern Oak Wealth Management Inc. grew its position in shares of Williams Companies by 4.3% in the 3rd quarter. Northern Oak Wealth Management Inc. now owns 8,499 shares of the pipeline company’s stock worth $243,000 after buying an additional 350 shares during the last quarter. 85.38% of the stock is owned by hedge funds and other institutional investors.

Williams Companies Trading Up 1.8 %

NYSE WMB opened at $30.97 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. The stock’s 50 day moving average is $31.86 and its 200 day moving average is $32.37. The Williams Companies, Inc. has a twelve month low of $28.30 and a twelve month high of $37.97. The firm has a market capitalization of $37.74 billion, a PE ratio of 18.43, a P/E/G ratio of 4.83 and a beta of 1.17.

Williams Companies (NYSE:WMB – Get Rating) last released its earnings results on Monday, February 20th. The pipeline company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.47 by $0.06. Williams Companies had a return on equity of 16.02% and a net margin of 18.69%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the company posted $0.39 earnings per share. Research analysts forecast that The Williams Companies, Inc. will post 1.8 earnings per share for the current fiscal year.

Williams Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 27th. Shareholders of record on Monday, March 13th will be issued a $0.4475 dividend. This represents a $1.79 annualized dividend and a yield of 5.78%. This is an increase from Williams Companies’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 10th. Williams Companies’s payout ratio is 101.19%.

Analyst Ratings Changes

WMB has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Williams Companies in a research report on Thursday, December 8th. They issued a “neutral” rating and a $36.00 price objective on the stock. Sanford C. Bernstein lowered Williams Companies from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $37.00 to $34.00 in a research report on Monday, February 27th. US Capital Advisors upgraded Williams Companies from a “hold” rating to an “overweight” rating in a research report on Tuesday, January 31st. Wells Fargo & Company cut their price objective on Williams Companies from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 22nd. Finally, Mizuho cut their price objective on Williams Companies from $40.00 to $39.00 in a research report on Friday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Williams Companies presently has a consensus rating of “Hold” and an average price target of $36.82.

About Williams Companies

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The Williams Cos., Inc operates as an energy infrastructure company, which explores, produces, transports, sells and processes natural gas and petroleum products. It operates through the following segments: Transmission and Gulf of Mexico, Northeast G&P, and West. The Transmission and Gulf of Mexico segment consists of interstate natural gas pipelines, the Transco and Northwest Pipelines, as well as natural gas gathering and processing and crude oil production handling and transportation assets in the Gulf Coast region.