|Bid||0.00 x 800|
|Ask||43.00 x 2200|
|Day's Range||40.93 - 41.52|
|52 Week Range||32.74 - 44.06|
|PE Ratio (TTM)||67.92|
|Forward Dividend & Yield||2.46 (6.55%)|
|1y Target Est||N/A|
Williams Companies will purchase all of the outstanding public common units of Williams Partners as part of an agreement announced Thursday. The stock-for-unit transaction is valued at $10.5 billion, the Tulsa World reported . The announcement follows a Federal Energy Regulatory Commission decision earlier this year to revise a tax policy permitting master limited partnership interstate oil and natural gas pipelines to maintain an income tax allowance in cost-of-service rates.
On May 17, the EIA released its weekly natural gas storage report. The EIA reported that US natural gas inventories increased by 106 Bcf (billion cubic feet) to 1,538 Bcf on May 4–11—the largest build in US natural gas inventories for this time of the year since 2015. However, the inventories were lower by 821 Bcf or 34.8% year-over-year.
Stocks that moved substantially or traded heavily on Thursday: Cisco Systems Inc., down $1.70 to $43.46 The seller of switches, routers and software's results met expectations, but analysts worried about ...
Williams Partners (WPZ) rallied 7% early yesterday following a merger announcement with its GP, Williams Companies (WMB). The c-corp GP has agreed to acquire all the outstanding units of the MLP in a stock-for-unit deal valued at $10.5 billion.
Observers of natural gas pipeline operator Williams Cos. are applauding its announcement this morning that it's buying the units it doesn't already own of master limited partnership Williams Partners for $10.5 billion. Williams Cos. – which is led by CEO Alan Armstrong – originally agreed to buy Williams Partners back in 2015 for $13.8 billion, but then called it off when it agreed to be acquired by Energy Transfer Equity for $37.7 billion. Then that deal fell apart after a Delaware judge ruled that Energy Transfer Equity could back out because of unfavorable tax advantages.
Energy Transfer Partners (ETP) posted strong earnings growth in the recent quarter. High leverage and a complex capital structure have been a drag on Energy Transfer Partners’ market performance. While the partnership’s leverage position improved considerably in recent quarters due to balance sheet strengthening measures and earnings growth, its cost of equity continued to stay higher.
Two deals involving seven entities will further the pipeline sector's streamlining wave -- and hint at more to come.
Moody's Investors Service (Moody's) placed the ratings of The Williams Companies, Inc. (Williams) under review for upgrade, including the Ba2 Corporate Family Rating (CFR), Ba2-PD Probability of Default Rating (PDR), and the Ba2 senior unsecured ratings. Moody's also changed the rating outlooks to stable from positive for Williams Partners, LP (WPZ) and its wholly-owned pipeline subsidiaries, Northwest Pipeline GP (Northwest) and Transcontinental Gas Pipeline Company, LLC (Transco).
Pipeline operator The Williams Cos. said on Thursday it will buy all outstanding shares of its master limited partnership William Partners for $10.5 billion.
Pipeline operator The Williams Cos. WMB said on Thursday it would buy the remaining 26 percent stake that it does not already own in its master limited partnership, William Partners WPZ , for $10.5 billion. Williams would give 1.494 of its shares for each share of Williams Partners, with the offer representing a premium of 6.4 percent based on Wednesday's closing price. The deal simplifies Williams' corporate structure, streamlines governance and maintains investment-grade credit ratings, the company said.
Shares of Williams Companies shot up 5.8% in premarket trade Thursday, after the natural gas infrastructure company announced a deal to buy the outstanding common shares of Williams Partners LP in a deal ...
Williams Companies said the all-stock deal would fold the 256 million outstanding shares of Williams Partners into the parent at a ratio of 1.494 Williams Co. shares for each partnership unit. Based on that ratio, the companies said, Williams Co. will issue 382.5 new shares in connection with the deal, which it nonetheless said would be immediately cash accretive and open shareholders to new dividends. "This strategic transaction will provide immediate benefits to Williams and Williams Partners investors (and) also simplifies our corporate structure, streamlines governance and maintains investment-grade credit rating," said CEO Alan Armstrong.
Pipeline operator Williams Cos said on Thursday it will buy all outstanding shares of its master limited partnership William Partners LP for $10.5 billion. The offer represents a premium of 6.4 percent ...
Investors with a long-term horizong may find it valuable to assess Williams Partners LP.’s (NYSE:WPZ) earnings trend over time and against its industry benchmark as opposed to simply looking atRead More...
Of the analysts covering Kinder Morgan (KMI), 64% recommended “buy,” and 36% recommended “hold.” Their price target for Kinder Morgan is $21, implying a 28% upside to its current price of $16.45.
The number of Enterprise Products Partners (EPD) shares shorted fell ~37.5% from ~17.3 million on April 13 to ~10.8 million on April 30. According to data released on May 9, short interest in Enterprise Products Partners as a percentage of its float is ~0.8%. Enterprise Products’ short interest ratio is 2x, which shows that it would take nearly two days to cover all open short positions in EPD.
According to recent filings, the top ten investors in Kinder Morgan (KMI) added net 20.3 million Kinder Morgan shares to their positions. According to a March 9 filing, Richard Kinder added 0.5 million KMI shares to his position. Kinder owns nearly 246 million KMI shares, which represent 11.1% of KMI’s total outstanding shares. BlackRock Institutional Trust disclosed an addition of 0.6 million KMI shares in a March 31 filing.
MLPs recovered last week after two weeks of sluggishness. The Alerian MLP Index (^AMZ), which includes 50 energy MLPs, rose 2.0% during the week to end at 259.6. Out of the total 90 MLPs, 55 ended in the green, four remained unchanged, and the remaining 31 ended in the red. Among the top MLPs, Energy Transfer Partners (ETP), Williams Partners (WPZ), and Enterprise Products Partners (EPD) rose 5.5%, 2.7%, and 2.1%, respectively, while Plains All American Pipelines (PAA) fell 2.8%.
Kinder Morgan’s (KMI) net debt stood at $37.0 billion at the end of 1Q18, $331 million higher quarter-over-quarter. Of the $331 million increase, nearly $100 million was associated with increased debt at Kinder Morgan Canada (KML.TO). Notably, Kinder Morgan’s net debt has fallen ~$5.8 billion since the end of 1Q15.
All four companies we’re analyzing—Enterprise Products Partners (EPD), Kinder Morgan (KMI), Williams Partners (WPZ), and MPLX (MPLX)—raised their capital expenditure YoY (year-over-year) in 2017. Enterprise Products Partners’ capital spending rose 11% in 2017 while Williams Partners’ rose 24%.
All four midstream companies we’re analyzing in this series—Enterprise Products Partners (EPD), Kinder Morgan (KMI), Williams Partners (WPZ), and MPLX (MPLX)—are trading at attractive yields. Enterprise Products Partners and MPLX are trading at yields of 6.4% and 7.1%, respectively, while Williams Partners is trading at a yield of ~6.7%. Kinder Morgan’s recent 60% dividend increase has raised its yield to ~5.0%.
MPLX’s (MPLX) EBITDA (earnings before interest, tax, depreciation, and amortization) grew 80% YoY (year-over-year) in 1Q18, boosted by drop-down assets from parent Marathon Petroleum (MPC). MPLX’s EBITDA grew 41% YoY in fiscal 2017.