Williams Partners LP (NYSE:WPZ) has tumbled 1.78% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.01% in the last four weeks. The stocks have underperformed the S&P 500 by 0.6% during the past week but Williams Partners LP (NYSE:WPZ) it has outperformed the index in 4 weeks by 2.07%.
Williams Partners LP (NYSE:WPZ): The stock opened at $33.34 on Friday but the bulls could not build on the opening and the stock topped out at $33.50 for the day. The stock traded down to $32.20 during the day, due to lack of any buying support eventually closed down at $32.54 with a loss of -1.54% for the day. The stock had closed at $33.05 on the previous day. The total traded volume was 4,018,691 shares.
The company shares have dropped -33.73% from its 1 Year high price. On Jul 16, 2015, the shares registered one year high at $52.56 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $31.37 and the 200 Day Moving Average price is recorded at $24.17.
On the companys insider trading activities, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Williams Partners L.P., Armstrong Alan S had purchased shares worth of $315,750 in a transaction dated on December 7, 2015. A total of 15,000 shares were purchased at a price of $21.05 per share. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Jefferies, maintains their rating on the shares of Williams Partners LP (NYSE:WPZ). Jefferies has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $40 per share from a prior target of $39. The rating by the firm was issued on June 8, 2016. Institutional Investors own 35.89% of Williams Partners LP shares.
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 Companys 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.