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UPDATE: Jefferies Downgrades Williams Partners LP on Valuation

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In a report published Thursday, Jefferies analyst Christopher Sighinolfi downgraded the rating on Williams Partners LP (NYSE: WPZ) from Buy to Hold, and lowered the price target from $55.00 to $52.00.

In the report, Jefferies noted, “With two large investors having recently achieved a mutual agreement with WMB under which each will have a representative promptly appointed to the Company's Board, we believe something transformative may be in the works. We recognize that WMB trades at a material discount to peers with similar rates of dividend growth, but believe it will not realize its full valuation potential without first restoring the health of WPZ cash flows & DCF coverage. To that end, we have contemplated various scenarios which aim to achieve this goal; however, as each is predicated on numerous sequential 'if' statements, we have not included any in our formal valuation analysis.”

Williams Partners LP closed on Wednesday at $50.31.

Latest Ratings for WPZ

DateFirmActionFromTo
Sep 2014BMO CapitalInitiates Coverage onMarket Perform
Jun 2014UBSInitiates Coverage onNeutral
Jun 2014CitigroupReinstatesBuy

View More Analyst Ratings for WPZ
View the Latest Analyst Ratings

Posted-In: Christopher Sighinolfi JefferiesAnalyst Color Downgrades Analyst Ratings

 

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