CIBC Asset Management Inc Has $11 Million Stock Holdings in The Williams Companies, Inc. (NYSE:WMB)

CIBC Asset Management Inc trimmed its stake in shares of The Williams Companies, Inc. (NYSE:WMB) by 13.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,930 shares of the pipeline company’s stock after selling 36,018 shares during the quarter. CIBC Asset Management Inc’s holdings in Williams Companies were worth $10,998,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SouthState Corp acquired a new position in Williams Companies during the 2nd quarter worth approximately $31,000. Rosenberg Matthew Hamilton increased its position in Williams Companies by 50.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 752 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 252 shares during the period. GHP Investment Advisors Inc. acquired a new position in Williams Companies in the 2nd quarter valued at approximately $34,000. Quarry LP acquired a new position in Williams Companies in the 2nd quarter valued at approximately $35,000. Finally, Fortitude Family Office LLC increased its position in Williams Companies by 120.8% in the 3rd quarter. Fortitude Family Office LLC now owns 996 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 545 shares during the period. 86.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Mizuho upped their price target on shares of Williams Companies from $47.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Truist Financial upped their price target on shares of Williams Companies from $42.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Royal Bank of Canada increased their price objective on shares of Williams Companies from $47.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of Williams Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Scotiabank increased their price objective on shares of Williams Companies from $43.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.54.

Williams Companies Stock Up 1.7 %

Shares of NYSE WMB opened at $56.55 on Friday. The firm has a market cap of $68.94 billion, a PE ratio of 23.86, a P/E/G ratio of 5.83 and a beta of 1.03. The Williams Companies, Inc. has a 12-month low of $32.65 and a 12-month high of $57.33. The company’s fifty day simple moving average is $49.94 and its 200 day simple moving average is $44.98. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 1.67.

Williams Companies (NYSE:WMB) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Williams Companies had a net margin of 27.36% and a return on equity of 15.89%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the firm earned $0.45 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that The Williams Companies, Inc. will post 1.91 earnings per share for the current fiscal year.

Williams Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, December 13th. This represents a $1.90 dividend on an annualized basis and a yield of 3.36%. Williams Companies’s dividend payout ratio (DPR) is presently 80.17%.

Insider Buying and Selling

In related news, CAO Mary A. Hausman sold 7,951 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $56.30, for a total transaction of $447,641.30. Following the completion of the sale, the chief accounting officer now owns 25,858 shares in the company, valued at approximately $1,455,805.40. This trade represents a 23.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Terrance Lane Wilson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $45.29, for a total transaction of $90,580.00. Following the sale, the senior vice president now owns 304,200 shares of the company’s stock, valued at $13,777,218. This trade represents a 0.65 % decrease in their position. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.

Williams Companies Company Profile

The Williams Companies, Inc, together with its subsidiaries, operates as an energy infrastructure company primarily in the United States. It operates through Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services segments. The Transmission & Gulf of Mexico segment comprises natural gas pipelines; Transco, Northwest pipeline, MountainWest, and related natural gas storage facilities; and natural gas gathering and processing, and crude oil production handling and transportation assets in the Gulf Coast region.