Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

Williams Companies Offers Growth, Upside, And Risk

Williams Companies (NYSE:WMB) isn't quite as complicated as Energy Transfer Equity (NYSE:ETE), but this company too has turned to a model that prioritizes holding GP interests and stimulating MLP growth through drop-downs and growth-oriented capex. Key holding Williams Partners (NYSE:WPZ) has had its challenges with the erratic progress in the Marcellus and Utica shales, but the combination with Access Midstream Partners (NYSE:ACMP) should de-risk the cash flow that moves on to Williams Companies, while a slew of growth-oriented projects raise the prospect of double-digit dividend growth across the next decade.

A Sizable Energy Infrastructure Play

Williams Companies has changed quite a bit over the past few years. The company spun off its...

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