In the previous part of this series, we saw the technical indicators for Williams Companies (WMB).
Williams Companies (WMB), the midstream c-corp general partner of Williams Partners (WPZ), fell 1.2% last week.
Short interest in Energy Transfer Equity (ETE) as percentage of its float ratio has risen to 7.4%.
In this article, we’ll look at what Wall Street analysts recommend for Energy Transfer Equity (ETE).
In this post, we’ll perform a valuation analysis for Energy Transfer Equity (ETE) based on its historical and forward multiples.
Energy Transfer Equity (ETE) rose just above its 50-day simple moving average, driven by the last week’s gains.
Energy Transfer Equity (ETE), which directly and indirectly owns the general partner of Energy Transfer Partners (ETP) and Sunoco Logistics Partners (SXL), rose 2.4% last week.
MLPs continue to offer attractive yields near 7.0% compared to ~4.0% for REITs, ~3.5% for utilities, ~2.5% for Treasuries, and ~2.0% for the broader markets.
The Alerian MLP Index fell week-over-week to close 0.90% lower last week. MLPs rose 1.3% on March 15 on the Fed’s softer-than-expected tone for future rate hikes.
Higher inflation erodes the value of future coupon payments. Inflation has more of a negative effect on bonds with later maturities.
Short interest in Williams Partners (WPZ) as a percentage of its float has fallen to 2.9%, lower than its past year’s average of 3.4% and lower than its historical three-year average of 3.2%.
In this article, we’ll look at what Wall Street analysts recommend for Williams Partners. At a broader level, 56.0% of analysts rate WPZ as a “buy,” and the remaining 44.0% rate it as a “hold.”
According to the recent rigs report published by Baker Hughes (BHI), the region’s rig count had risen to 41 as of March 10, 2017, compared to its all-time low of 21 in August 2016.
The number of holders of WPZ has risen marginally to 342 as of March 14, 2017, compared to 339 in mid-2016. Moreover, the number of outstanding shares held of WPZ has risen 2.5%.
At $61.4 billion, Williams Partners (WPZ) has the highest enterprise value among its selected peers. It’s followed by Energy Transfer Partners (ETP).
The earnings of midstream companies, including larger ones such as Williams Partners and Energy Transfer Partners, aren’t believed to have much direct commodity price exposure.
Williams Partners is currently trading at a price-to-distributable cash flow (or DCF) multiple of 12.9x. The partnership is trading above its eight-quarter historical average of 7.0x.
Williams Partners’ (WPZ) distributable cash flow in 2016 was $2.97 billion, compared to $2.82 billion in 2015, a YoY (year-over-year) rise of 5.3%.
Williams Partners’ (WPZ) 2016 capital expenditure (capex) was $2.1 billion, 35.2% lower than its capex of $3.2 billion in 2015.
Williams Partners (WPZ) ended 2016 with total outstanding debt of $18.6 billion, 5.6% lower than its outstanding debt at the end of 2015.