Market Overview

UPDATE: Bank of America Downgrades Williams Partners LP to Neutral on Balanced Risk/Reward Profile

Related WPZ
Williams Partners Expects Its Expanded Geismar Plant To Startup, Manufacture Ethylene In November
What Does Jim Cramer Think Is One Of The Greatest Pipeline Companies The U.S. Is Ever Going To See?
Williams to Take Over Access Midstream for $6B (Fox Business)

In a report published Thursday, Bank of America analyst Gabe Moreen downgraded the rating on Williams Partners LP (NYSE: WPZ) from Buy to Neutral, and lowered the price target from $59.00 to $55.00.

In the report, Moreen noted, “WPZ is a natural gas gathering and processing and interstate natural gas pipeline MLP whose parent company Williams (WMB) consummated a spin-down of assets in early 2010 to transform WPZ into a large-cap MLP with regulated and unregulated businesses. We view WPZ's risk/reward profile as balanced given its robust backlog of organic growth projects that is offset by weak NGL pricing, tight cash distribution coverage, and 2H13 equity needs.”

Williams Partners LP closed on Wednesday at $51.59.

Latest Ratings for WPZ

DateFirmActionFromTo
Oct 2014JP MorganMaintainsOverweight
Oct 2014CitigroupMaintainsBuy
Sep 2014BMO CapitalInitiates Coverage onMarket Perform

View More Analyst Ratings for WPZ
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Downgrades Analyst Ratings

 

Related Articles (WPZ)

Around the Web, We're Loving...

Get Benzinga's Newsletters