UniSuper Management Pty Ltd has expanded its stake in Williams Companies, Inc. by 1.9% during the first quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The investment fund now holds a total of 89,474 shares of the pipeline company after acquiring an additional 1,669 shares during this period. As of the latest filing, UniSuper’s holdings in Williams Companies are valued at approximately $5.35 million.
The interest in Williams Companies is not limited to UniSuper. Several other institutional investors have modified their positions recently. For instance, Menard Financial Group LLC entered the market with a new stake valued at $26,000, while HWG Holdings LP made a similar investment in the first quarter. The Saudi Central Bank also established a new stake valued at $29,000. Notably, Iron Horse Wealth Management LLC significantly increased its holdings by 4,490.9%, owning 505 shares worth approximately $30,000 after acquiring an additional 494 shares.
Currently, institutional investors collectively own 86.44% of Williams Companies stock, reflecting substantial confidence in the company’s market position.
Current Stock Performance and Dividend Announcement
On Tuesday, Williams Companies shares opened at $56.93. The company maintains a current ratio of 0.54, a quick ratio of 0.48, and a debt-to-equity ratio of 1.73. Over the past year, the stock has experienced a low of $43.98 and a high of $63.45, with a market capitalization of $69.41 billion. Its price-to-earnings ratio stands at 28.61, while the price-to-earnings growth ratio is reported at 1.91. The stock has a beta of 0.65, indicating lower volatility compared to the market.
In addition to its stock performance, Williams Companies recently announced a quarterly dividend of $0.50 per share, which is set to be paid on September 29, 2023. Shareholders of record as of September 12 will receive this dividend, resulting in an annualized dividend of $2.00 and a yield of 3.5%. The company’s dividend payout ratio currently stands at 100.50%.
Recent Analyst Ratings and Insider Activity
Recent evaluations from research firms have shown a mixed outlook for Williams Companies. Wall Street Zen downgraded the company’s rating from “hold” to “sell,” while Scotiabank raised its price target from $59.00 to $60.00, maintaining a “sector perform” rating. Similarly, Wolfe Research upgraded the stock from “underperform” to “peer perform,” indicating a positive shift in sentiment. Barclays also increased its price objective from $58.00 to $59.00, assigning an “equal weight” rating. Conversely, Royal Bank of Canada reiterated an “outperform” rating, setting a price target of $63.00.
Currently, one analyst has issued a “Strong Buy” rating, while ten have recommended a “Buy” and five a “Hold,” leading to a consensus rating of “Moderate Buy” with an average price target of $62.86.
In terms of insider activity, Larry C. Larsen, Chief Operating Officer, sold 4,500 shares on August 11, 2023, at an average price of $58.47, totaling approximately $263,115. Following this transaction, Larsen retains 77,612 shares valued at about $4.54 million, marking a 5.48% decrease in his position. Another notable transaction involved Terrance Lane Wilson, Senior Vice President, who sold 2,000 shares on September 4, 2023, for around $115,240. Wilson now owns 311,645 shares valued at approximately $17.96 million, a decrease of 0.64% in his holdings.
Over the past 90 days, insiders have sold a total of 10,500 shares of the company, amounting to $623,115. Presently, insiders retain 0.44% of the company’s stock.
Williams Companies, Inc. operates as an energy infrastructure company, primarily in the United States, with segments that include Transmission & Gulf of Mexico, Northeast Gathering & Processing, West, and Gas & NGL Marketing Services. The company is recognized for its extensive natural gas pipeline network and related energy services.
