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The Williams Companies, Inc.

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Williams Companies was able to report impressive third-quarter 2016 earnings on the back of significant cost reductions and continued improvement in financial performance. The company’s recently announced decision to divest Canadian businesses is expected to be beneficial for the company. The proceeds will help Williams expand its existing pipeline networks and reduce debt levels. However, we believe that the termination of the Energy Transfer merger deal is a big blow to the company that will negatively affect its shareholders. Williams’ high debt levels have also been a concern. Considering these factors, we see limited upside from current levels and take a cautious stance on WMB stock.

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