Market Overview

UPDATE: Oppenheimer Initiates Coverage on Williams Partners on Mixed Factors

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 Wednesday, Oppenheimer analyst Bernard Colson initiated coverage on Williams Partners LP (NYSE: WPZ) with a Perform rating.

In the report, Oppenheimer noted, “We initiate coverage of Williams Partners (WPZ) with a Perform rating and do not assign a price target. Fundamentals of the dry natural gas business remain challenged. This is being offset by liquids-rich businesses including Marcellus gathering & processing. And while the outlook is positive for the ethylene production business, we are concerned with WPZ's commodity price exposure. In addition, distribution coverage is expected to remain below 1x through 2014. We appreciate management's confidence in the future (they continue to raise the distribution at a rapid rate despite weak coverage) but question this strategy given our preference for a more conservative approach.”

Williams Partners LP closed on Tuesday at $49.42.

Latest Ratings for WPZ

DateFirmActionFromTo
Oct 2014CitigroupMaintainsBuy
Oct 2014Credit SuisseMaintainsNeutral
Oct 2014JP MorganMaintainsOverweight

View More Analyst Ratings for WPZ
View the Latest Analyst Ratings

Posted-In: Bernard Colson OppenheimerAnalyst Color Initiation Analyst Ratings

 

Related Articles (WPZ)

Around the Web, We're Loving...

Get Benzinga's Newsletters