In a research note published on October 5, the analyst mentions that subsequent a filing from an investor pointing to the possession of 5 percent of the Company, activity in the shares of Williams Companies Inc (NYSE: WMB) and options accelerated earlier last week. Furthermore, in the perspective of an elevated stage of commodity leverage as compared to the group and an outlook that at the end of the day WMB would trade at a higher dividend yield than the group averages, HOLD rating was discussed previously for Williams Companies.
In addition to this, a target price of $32 and a HOLD rating on Williams Companies and a target price of
$55 and HOLD rating on Williams Partners LP (NYSE: WPZ) were placed in a report dated July 23, 2012. On the pending further information when the Company will post EPS of third quarter of 2012 on November 2, 2012, these target prices have been reiterated. Williams Companies proclaimed of expecting to drop-down its Olefins business to Williams Partners LP with its second quarter of 2012 results.
Besides, using a three-stage dividend discount representation on the bigger risk to distribution targets from a tough NGL price situation, target price of Williams Partners LP has been maintained to $55 and moreover this, its parent Williams Companies Inc’s SoTP-based price target has been maintained to $32. Augmentation in NGL or olefins demand, additional rising of natural gas price or reducing of crude oil cost have been included in the risks, the analyst adds further.
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