Seeking Alpha

Williams Partners (WPZ -4%) is downgraded to Accumulate from Buy at Global Hunter after...

Williams Partners (WPZ -4%) is downgraded to Accumulate from Buy at Global Hunter after reporting reduced guidance for 2013-14. With distribution coverage now expected at ~0.9x for 2013, the firm thinks it may be 2014 before WPZ covers its distribution and 2015 before it generates a more normalized coverage cushion; until then, skepticism of 9% distribution growth is understandable.
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