Williams Partners L.P. recently announced that the Federal Energy Regulatory Commission (FERC) has issued a certificate of public convenience and necessity sanctioning the Atlantic Sunrise expansion project. The project is aimed at extending the existing Transco natural gas pipeline to link plentiful Marcellus gas supplies with markets in the Mid-Atlantic and Southeastern U.S.
Consequent to the receipt of all required regulatory approvals, Williams Partners expects to commence construction on the mainline portion of the project facilities in mid-2017. These mainline facilities will create an important route from the northern part of the Transco system to markets along the Eastern Seaboard for part of the project capacity, in time for the 2017–2018 heating season. Construction on the greenfield portion of the project – Central Penn Line – is likely to start early in the third quarter of 2017. This would facilitate the full project capacity to be commissioned in mid-2018.
According to Pennsylvania State University researchers, the Atlantic Sunrise project is expected to directly and indirectly support about 8,000 jobs in the 10 Pennsylvania counties during its construction phase. This is likely to result in an estimated $1.6 billion economic impact in the project area.
Subsequent a comprehensive nearly three-year review, the order issued by the Commission inferred that the Atlantic Sunrise project will serve the public interest. On Dec 30, 2016, FERC published its final Environmental Impact Statement (EIS) for the proposed project, and concluded that environmental impacts would be reduced to “less than significant levels” if the mitigation measures anticipated by the company and FERC are put into practice.
Investor confidence on the Williams Partners stock is reflected in its price chart. Shares of the company appreciated 187.5% in the last one year, while the Zacks categorized Oil Field Machinery & Equipment industry gained 33.5% in the same time span.
Williams Partners currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the same space include Denbury Resources Inc. , Holly Energy Partners LP and Noble Midstream Partners L.P. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Denbury Resources delieverd a positive earnings surprise of 100.00% in the last reported quarter. It had an average earnings surprise of 283.33% in the four trailing quarters.
Holly Energy Partners posted a negative earnings surprise of 23.26% in the preceding quarter. It had an average negative earnings surprise of 0.96% in the four trailing quarters.
Noble Midstream Partners posted a negative earnings surprise of 77.78% in the last reported quarter.
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Williams Partners' Atlantic Sunrise Project Okayed by FERC
Williams Partners L.P. recently announced that the Federal Energy Regulatory Commission (FERC) has issued a certificate of public convenience and necessity sanctioning the Atlantic Sunrise expansion project. The project is aimed at extending the existing Transco natural gas pipeline to link plentiful Marcellus gas supplies with markets in the Mid-Atlantic and Southeastern U.S.
Consequent to the receipt of all required regulatory approvals, Williams Partners expects to commence construction on the mainline portion of the project facilities in mid-2017. These mainline facilities will create an important route from the northern part of the Transco system to markets along the Eastern Seaboard for part of the project capacity, in time for the 2017–2018 heating season. Construction on the greenfield portion of the project – Central Penn Line – is likely to start early in the third quarter of 2017. This would facilitate the full project capacity to be commissioned in mid-2018.
According to Pennsylvania State University researchers, the Atlantic Sunrise project is expected to directly and indirectly support about 8,000 jobs in the 10 Pennsylvania counties during its construction phase. This is likely to result in an estimated $1.6 billion economic impact in the project area.
Subsequent a comprehensive nearly three-year review, the order issued by the Commission inferred that the Atlantic Sunrise project will serve the public interest. On Dec 30, 2016, FERC published its final Environmental Impact Statement (EIS) for the proposed project, and concluded that environmental impacts would be reduced to “less than significant levels” if the mitigation measures anticipated by the company and FERC are put into practice.
Investor confidence on the Williams Partners stock is reflected in its price chart. Shares of the company appreciated 187.5% in the last one year, while the Zacks categorized Oil Field Machinery & Equipment industry gained 33.5% in the same time span.
Williams Partners currently carries a Zacks Rank #3 (Hold). Some better-ranked players in the same space include Denbury Resources Inc. , Holly Energy Partners LP and Noble Midstream Partners L.P. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Denbury Resources delieverd a positive earnings surprise of 100.00% in the last reported quarter. It had an average earnings surprise of 283.33% in the four trailing quarters.
Holly Energy Partners posted a negative earnings surprise of 23.26% in the preceding quarter. It had an average negative earnings surprise of 0.96% in the four trailing quarters.
Noble Midstream Partners posted a negative earnings surprise of 77.78% in the last reported quarter.
Just Released – Driverless Cars: Your Roadmap to Mega-Profits Today
In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>