Williams Partners L.P. (NYSE:WPZ).
Appaloosa Lp says it decreased its stake in Williams Partners L.P. shares by 1,745,748 shares in the quarter ending 09/30/2017. Its investment was valued at $289,288,000 a decrease of 21.5% as of quarter end.
These firms have modified their investment in WPZ. As of quarter end Summit Equities Inc had sold 1,745,748 shares trimming its position 19.0%. The value of the investment in (WPZ) increased from $1,078,000 to $1,009,725,000 a change of 93,566.5% quarter to quarter. As of the end of the quarter Appaloosa Lp had disposed of a total of 1,745,748 shares trimming its holdings by 19.0%. The value of the total investment in Williams Partners L.P. went from $368,308,000 to $289,288,000 a change of $79,020,000 since the last quarter.
Appaloosa Lp trimmed its investment by shedding 917 shares a decrease of 3.4% as of 09/30/2017. Appaloosa Lp currently owns 7,436,701 shares with a value of $289,288,000. The total value of its holdings decreased 21.5%. As of the end of the quarter Raymond James & Associates had disposed of a total of 23,359 shares trimming its stake by 11.8%. The value in dollars decreased from $7,937,000 to $6,789,000 decreasing 14.5% for the reporting period.
As of the end of the quarter Commonwealth Of Pennsylvania Public School Empls Retrmt SYS had bought 482,557 shares growing its position 15.3%. The value of the investment in Williams Partners L.P. increased from $126,497,000 to $141,452,000 a change of 11.8% quarter over quarter.
October 16 investment analysts at Jefferies Group LLC maintained a company rating of “Buy” targeting a price of $44.00. On October 13, 2017 BMO Capital Markets issued a report on WPZ with a rating of “Buy” and price target of $47.00.
Wells Fargo & Company lowered the price target on October 10 cutting the projection from $49.00 to $45.00 with a “Outperform” recommendation. Wolfe Research updated coverage of WPZ setting a rating of “Outperform”.
On August 22 Jefferies Group LLC made no change to the stock rating of “Buy” projecting a price of $44.00. On August 18 analysts at BMO Capital Markets updated guidance on WPZ stating a rating of “Buy” and projecting a price target of $47.00.
The company is trading up since yesterday’s close of 35.21. The company currently has a P/E ratio of 25.71 and market capitalization is 34.95B. As of the last earnings report the EPS was $1.40 with 956.24M shares currently outstanding.
Investors are a little more bearish lately at least if you consider the uptick in short interest. The firm had a rise in short interest between September 29, 2017 and October 13, 2017 of 6.97%. Short shares grew from 4,335,172 to 4,637,333 over that timeframe. With short interest at 4,637,333 and short average daily volume at 867,054, days to cover is 5.0 and the percentage of shorted shares was 0.00% on October 13.