Williams Cos Inc [NYSE: WMB] surged by $0.11 during the normal trading session on while it closed the day at $33.97. The company report on January 3, 2024 at 4:15 PM that Williams Closes Acquisition of Major Natural Gas Storage Portfolio.
Williams (NYSE: WMB) today announced that it has closed its acquisition of a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion. The transaction includes six underground natural gas storage facilities located in Louisiana and Mississippi with total capacity of 115 billion cubic feet (Bcf), as well as 230 miles of gas transmission pipeline and 30 pipeline interconnects to attractive markets, including LNG markets, and connections to Transco, the nation’s largest natural gas transmission pipeline. The acquisition price represents an approximate 10x estimated 2024 EBITDA multiple.
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“Demand for natural gas has greatly outpaced natural gas storage capacity since 2010, demonstrating the intrinsic value this well-connected and strategically located Gulf Coast storage portfolio brings to our transportation network as we serve growing demand driven by LNG exports and power generation,” said Williams President and Chief Executive Officer Alan Armstrong. “With the acquisition now complete, we look forward to welcoming the Hartree team to Williams and integrating this premier storage platform into our suite of natural gas transportation and marketing services, while delivering additional value to our shareholders.”.
Williams Cos Inc stock has also loss -2.72% of its value over the past 7 days. However, WMB stock has declined by -4.50% in the 3 months of the year. Over the past six months meanwhile, it has gained 0.35% and lost -2.47% year-on date.
The market cap for WMB stock reached $41.32 billion, with 1.22 billion shares outstanding and 1.21 billion shares in the current float. Compared to the average trading volume of 6.65M shares, WMB reached a trading volume of 6657322 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Williams Cos Inc [WMB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WMB shares is $38.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WMB stock is a recommendation set at 2.24. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Williams Cos Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 06, 2023.
The Average True Range (ATR) for Williams Cos Inc is set at 0.61, with the Price to Sales ratio for WMB stock in the period of the last 12 months amounting to 4.01. The Price to Book ratio for the last quarter was 3.50, with the Price to Cash per share for the same quarter was set at 1.70. Price to Free Cash Flow for WMB in the course of the last twelve months was 15.60 with Quick ratio for the last quarter at 0.72.
WMB stock trade performance evaluation
Williams Cos Inc [WMB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.72. With this latest performance, WMB shares dropped by -3.14% in over the last four-week period, additionally plugging by 0.35% over the last 6 months – not to mention a rise of 6.39% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WMB stock in for the last two-week period is set at 37.05, with the RSI for the last a single of trading hit 31.97, and the three-weeks RSI is set at 40.64 for Williams Cos Inc [WMB]. The present Moving Average for the last 50 days of trading for this stock 35.29, while it was recorded at 34.05 for the last single week of trading, and 33.26 for the last 200 days.
Williams Cos Inc [WMB]: An insightful look at the core fundamentals
Williams Cos Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.72 and a Current Ratio set at 0.77.
Earnings per share (EPS) analysis for Williams Cos Inc [WMB] stock
With the latest financial reports released by the company, Williams Cos Inc posted 0.55/share EPS, while the average EPS was predicted by analysts to be reported at 0.49/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WMB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Williams Cos Inc go to 2.00%.
Williams Cos Inc [WMB]: Institutional Ownership
The top three institutional holders of WMB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WMB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WMB stock with ownership which is approximately 5.8325%.
