Envestnet Asset Management Inc. Sells 330,519 Shares of The Williams Companies, Inc. (NYSE:WMB)

Envestnet Asset Management Inc. decreased its position in shares of The Williams Companies, Inc. (NYSE:WMB) by 5.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,252,548 shares of the pipeline company’s stock after selling 330,519 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.43% of Williams Companies worth $223,233,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in shares of Williams Companies during the 1st quarter valued at $27,000. Western Pacific Wealth Management LP acquired a new stake in shares of Williams Companies during the 4th quarter valued at $25,000. SouthState Corp acquired a new stake in shares of Williams Companies during the 2nd quarter valued at $31,000. GHP Investment Advisors Inc. acquired a new stake in shares of Williams Companies during the 2nd quarter valued at $34,000. Finally, Fairman Group LLC acquired a new stake in shares of Williams Companies during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 86.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Argus raised Williams Companies from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. Scotiabank lifted their target price on Williams Companies from $43.00 to $48.00 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Barclays lifted their target price on Williams Companies from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Truist Financial lifted their target price on Williams Companies from $40.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, June 18th. Finally, Morgan Stanley lifted their target price on Williams Companies from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Williams Companies has a consensus rating of “Hold” and a consensus target price of $42.83.

Williams Companies Stock Performance

Shares of WMB opened at $45.03 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.39 and a current ratio of 0.45. The stock has a 50 day moving average price of $43.79 and a two-hundred day moving average price of $41.07. The firm has a market capitalization of $54.88 billion, a P/E ratio of 18.92, a P/E/G ratio of 6.19 and a beta of 1.05. The Williams Companies, Inc. has a 52 week low of $32.49 and a 52 week high of $45.81.

Williams Companies (NYSE:WMB) last issued its quarterly earnings data on Monday, August 5th. The pipeline company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.46 billion. Williams Companies had a return on equity of 16.17% and a net margin of 27.11%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 EPS. Equities analysts forecast that The Williams Companies, Inc. will post 1.93 earnings per share for the current fiscal year.

Williams Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, September 13th. Williams Companies’s dividend payout ratio is presently 79.83%.

Williams Companies Company Profile

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.