Raymond James Downgrades Williams Partners LP to Market Perform

Brokerage firm Raymond James Downgrades its rating on Williams Partners LP(NYSE:WPZ). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Raymond James was issued on Aug 3, 2016.

In a different note, On Aug 2, 2016, Credit Suisse said it Maintains its rating on Williams Partners LP. In the research note, the firm Raises the price-target to $32.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 2, 2016, UBS said it Maintains its rating on Williams Partners LP. In the research note, the firm Raises the price-target to $37.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 2, 2016, Evercore Partners said it Maintains its rating on Williams Partners LP. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 25, 2016, Jefferies said it Downgrades its rating on Williams Partners LP. The shares have been rated ‘Hold’ by the firm. On Jul 22, 2016, Citigroup said it Assumes its rating on Williams Partners LP. The shares have been rated ‘Neutral’ by the firm. On Jun 8, 2016, Jefferies said it Maintains its rating on Williams Partners LP. In the research note, the firm Raises the price-target to $39.00 per share. The shares have been rated ‘Buy’ by the firm.

Williams Partners LP (WPZ) made into the market gainers list on Fridays trading session with the shares advancing 1.62% or 0.57 points. Due to strong positive momentum, the stock ended at $35.75, which is also near the day’s high of $36.069. The stock began the session at $35.54 and the volume stood at 11,38,224 shares. The 52-week high of the shares is $42.44 and the 52 week low is $12.69. The company has a current market capitalization of $21,624 M and it has 60,48,57,370 shares in outstanding.

Williams Partners LP(WPZ) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.73B. Analysts had an estimated revenue of $1.87B. Earnings per share were $-0.49.

Several Insider Transactions has been reported to the SEC. On Dec 9, 2015, Alan S Armstrong (CEO) purchased 15,000 shares at $21.05 per share price.

Williams Partners L.P. formerly Access Midstream Partners L.P. owns operates develops and acquires natural gas natural gas liquids (NGLs) and oil gathering systems and other midstream energy assets. The Company’s business segments include Access Midstream Northeast G&P Atlantic-Gulf West and NGL & Petchem Services. The Access Midstream segment provides gathering treating and compression services to producers. The Northeast G&P segment includes natural gas gathering and processing and NGL fractionation businesses. Atlantic-Gulf segment includes its interstate natural gas pipeline Transcontinental Gas Pipeline Company LLC (Transco) and natural gas gathering and processing and crude oil production handling and transportation. The NGL & Petchem Services segment includes its 88.5% interest in an olefins production facility in Geismar Louisiana along with an RGP Splitter and various petrochemical and feedstock pipelines.

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