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Fly News Breaks for May 3, 2016
ETE, WMB, WPZ
May 3, 2016 | 14:05 EDT
Evercore ISI Timm Schneider says he "can't be sure" what's driving Williams Partners (WPZ) and Williams (WMB) today, but he doesn't think it's any change in underlying fundamentals and he doesn't think Williams Partners should be underperforming Williams by the degree that it is. If the Energy Transfer Equity (ETE) deal closes, Schneider believes Williams Partners' distribution is safe and if the deal doesn't close he still thinks Williams Partners "should be fine." Evercore has Buy ratings on both Williams Partners and Williams shares.
News For WPZ;WMB;ETE From the Last 2 Days
WMB
Apr 18, 2024 | 16:26 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
WMB
Apr 18, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
WMB
Apr 18, 2024 | 04:53 EDT
Wolfe Research downgraded Williams to Underperform from Peer Perform with a $34 price target. The company "has had challenges" with a disappointing 2024-2025 outlook in February, weak gas prices, and large gas production cuts, the analyst tells investors in a research note. Despite this, the stock has kept pace with peers year-to-date on early hopes for a gas recovery and data center buzz, says Wolfe. The firm cites relative valuation for the downgrade.
