Duff & Phelps Investment Management Co. Has $52,928,000 Position in Williams Partners L.P. (WPZ)
Duff & Phelps Investment Management Co. boosted its stake in Williams Partners L.P. (NYSE:WPZ) by 1.4% during the third quarter, Holdings Channel reports. The fund owned 1,423,184 shares of the company’s stock after buying an additional 20,000 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Williams Partners L.P. were worth $52,928,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. Cedar Wealth Management LLC purchased a new stake in Williams Partners L.P. during the second quarter valued at about $167,000. Opera Trading Capital purchased a new stake in Williams Partners L.P. during the second quarter valued at about $173,000. Burke & Herbert Bank & Trust Co. purchased a new stake in Williams Partners L.P. during the second quarter valued at about $203,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Williams Partners L.P. during the second quarter valued at about $210,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Williams Partners L.P. during the second quarter valued at about $211,000. Hedge funds and other institutional investors own 35.19% of the company’s stock.
Shares of Williams Partners L.P. (NYSE:WPZ) traded up 3.11% during midday trading on Wednesday, hitting $36.43. 137,329 shares of the stock were exchanged. The stock’s market cap is $21.45 billion. Williams Partners L.P. has a 52-week low of $12.69 and a 52-week high of $40.36. The firm’s 50 day moving average price is $35.87 and its 200-day moving average price is $35.59.
Williams Partners L.P. (NYSE:WPZ) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.12. Williams Partners L.P. had a positive return on equity of 2.49% and a negative net margin of 18.10%. During the same period last year, the firm posted ($0.32) earnings per share. On average, equities research analysts expect that Williams Partners L.P. will post $0.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 11th. Shareholders of record on Friday, November 4th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 9.62%. The ex-dividend date was Wednesday, November 2nd. Williams Partners L.P.’s dividend payout ratio (DPR) is -115.65%.
TRADEMARK VIOLATION WARNING: This piece was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of international copyright and trademark legislation. The original version of this piece can be viewed at http://www.dailypolitical.com/2016/11/30/duff-phelps-investment-management-co-has-52928000-position-in-williams-partners-l-p-wpz.html.
WPZ has been the subject of several recent analyst reports. Evercore Partners Inc. upped their target price on shares of Williams Partners L.P. from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Williams Partners L.P. from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Friday, November 4th. Stifel Nicolaus upped their target price on shares of Williams Partners L.P. from $36.00 to $37.00 and gave the stock a “hold” rating in a research note on Tuesday, November 1st. US Capital Advisors lowered shares of Williams Partners L.P. from an “overweight” rating to a “hold” rating in a research note on Thursday, September 8th. Finally, Credit Suisse Group AG set a $38.00 price target on shares of Williams Partners L.P. and gave the company a “hold” rating in a research report on Sunday, August 21st. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $37.36.
In other Williams Partners L.P. news, insider John D. Seldenrust sold 9,023 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $37.67, for a total value of $339,896.41. Following the completion of the transaction, the insider now owns 53,998 shares of the company’s stock, valued at approximately $2,034,104.66. The sale was disclosed in a legal filing with the SEC, which is available through this link.
About Williams Partners L.P.
Williams Partners L.P., formerly Access Midstream Partners, L.P, is an energy infrastructure master limited partnership with operations across the natural gas value chain. The Company’s segments include Central, Northeast G&P, Atlantic-Gulf, West, and NGL & Petchem Services. Its Central segment provides domestic gathering, treating, and compression services to producers under long-term, fixed fee contracts.
Want to see what other hedge funds are holding WPZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Williams Partners L.P. (NYSE:WPZ).
Receive News & Ratings for Williams Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Williams Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.