In a report released yesterday, Justin Jenkins from Raymond James reiterated a Buy rating on Williams Co (WMB), with a price target of $27.00. The company’s shares closed last Tuesday at $23.84, close to its 52-week high of $23.89.
According to TipRanks.com, Jenkins is a 4-star analyst with an average return of 6.3% and a 61.1% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Crossamerica Partners, and Phillips 66 Partners.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Williams Co with a $26.00 average price target, which is a 13.0% upside from current levels. In a report issued on February 9, Merrill Lynch also maintained a Buy rating on the stock with a $25.00 price target.
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Based on Williams Co’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.93 billion and net profit of $309 million. In comparison, last year the company earned revenue of $2.11 billion and had a net profit of $124 million.
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The Williams Cos., Inc. operates as an energy infrastructure company, which explores, produces, transports, sells and processes natural gas and petroleum products. It operates through three segments: Williams Partners; and Others. The Williams Partners segment includes gas pipeline and domestic midstream businesses. The gas pipeline business includes interstate natural gas pipelines and pipeline joint venture investments, and the midstream business provides natural gas gathering, treating and processing services; NGL production, fractionation, storage, marketing and transportation and deepwater production handling and crude oil transportation services. The Other segment comprises of corporate operations; olefins pipeline assets; and Canada assets. The company was founded by David Williams and Miller Williams in 1908 and is headquartered in Tulsa, OK.
