Market Overview

UPDATE: Oppenheimer Initiates Coverage on Williams Partners on Mixed Factors

Share:
Related WPZ
15 Stocks Which Rallied Four Days, Then Sold Off Yesterday
Watch These 10 Huge Put Purchases In Tuesday Trade

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
Aug 2016CitigroupMaintainsNeutral
Aug 2016Raymond JamesDowngradesOutperformMarket Perform
Aug 2016Evercore PartnersMaintainsBuy

View More Analyst Ratings for WPZ
View the Latest Analyst Ratings

Posted-In: Bernard Colson OppenheimerAnalyst Color Initiation Analyst Ratings

 

Related Articles (WPZ)

View Comments and Join the Discussion!