Williams Co (WMB) Initiated with a Buy at SMBC Nikko


SMBC Nikko analyst SMBC Nikko initiated coverage with a Buy rating on Williams Co (WMB) yesterday and set a price target of $26.00. The company’s shares closed last Thursday at $21.56, close to its 52-week high of $24.17.

Williams Co has an analyst consensus of Strong Buy, with a price target consensus of $24.20.

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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 billion and had a net profit of $221 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.

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