Williams Partners L.P. was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company—as the stock is now up 13.8% in the past one-month time frame.
The stock gained after the company reported that it has reached an agreement with related entity Williams, under which the latter will purchase all of the outstanding common units of Williams Partners in an all stock-for-unit deal valued at $10.5 billion.
The company has seen three negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Williams Partners currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the Energy and Pipeline - Master Limited Partnerships industry is Cypress Energy Partners, L.P. CELP, holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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