Grove Bank & Trust Reduces Holdings in The Williams Companies, Inc. (NYSE:WMB)

by · The Cerbat Gem

Grove Bank & Trust lessened its position in shares of The Williams Companies, Inc. (NYSE:WMB – Free Report) by 12.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,186 shares of the pipeline company’s stock after selling 1,928 shares during the quarter. Grove Bank & Trust’s holdings in Williams Companies were worth $602,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WMB. Clearbridge Investments LLC raised its position in Williams Companies by 5.9% in the first quarter. Clearbridge Investments LLC now owns 20,983,727 shares of the pipeline company’s stock valued at $817,736,000 after purchasing an additional 1,175,628 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in shares of Williams Companies by 1.2% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 12,670,175 shares of the pipeline company’s stock worth $538,482,000 after purchasing an additional 144,713 shares during the period. Wellington Management Group LLP lifted its stake in Williams Companies by 21.3% during the fourth quarter. Wellington Management Group LLP now owns 11,593,482 shares of the pipeline company’s stock worth $403,801,000 after purchasing an additional 2,039,703 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Williams Companies by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,648,918 shares of the pipeline company’s stock valued at $410,064,000 after buying an additional 311,530 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its holdings in shares of Williams Companies by 13.4% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 8,540,611 shares of the pipeline company’s stock valued at $332,828,000 after buying an additional 1,010,658 shares during the period. 86.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WMB. Scotiabank boosted their price target on shares of Williams Companies from $43.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Royal Bank of Canada boosted their price target on shares of Williams Companies from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. StockNews.com cut Williams Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Argus raised Williams Companies from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Finally, Barclays lifted their price target on shares of Williams Companies from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.08.

Get Our Latest Report on Williams Companies

Insider Activity at Williams Companies

In other Williams Companies news, SVP Terrance Lane Wilson sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $45.29, for a total transaction of $90,580.00. Following the sale, the senior vice president now directly owns 304,200 shares in the company, valued at approximately $13,777,218. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.44% of the stock is currently owned by company insiders.

Williams Companies Trading Up 1.1 %

Shares of WMB stock opened at $51.05 on Tuesday. The Williams Companies, Inc. has a 1-year low of $32.65 and a 1-year high of $51.19. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.45 and a quick ratio of 0.39. The business’s fifty day moving average price is $45.63 and its 200 day moving average price is $42.54. The firm has a market capitalization of $62.22 billion, a PE ratio of 21.45, a P/E/G ratio of 6.89 and a beta of 1.05.

Williams Companies (NYSE:WMB – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The pipeline company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Williams Companies had a net margin of 27.11% and a return on equity of 16.17%. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that The Williams Companies, Inc. will post 1.9 EPS for the current fiscal year.

Williams Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, September 13th. Williams Companies’s dividend payout ratio (DPR) is 79.83%.

About Williams Companies

(Free Report)

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 natural gas pipelines; Transco, Northwest pipeline, MountainWest, and related natural gas storage facilities; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region.

See Also

Want to see what other hedge funds are holding WMB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Williams Companies, Inc. (NYSE:WMB – Free Report).