WPZ: Williams Partners L.P. Instablogs

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Wednesday, May 8, 3:46 PM Williams Cos. (WMB -3.5%) is among the weakest stocks in the S&P 500 after reporting a big Q1 profit drop and lowering its 2013 EPS outlook on weaker margins. In today's conference call, CEO Alan Armstrong projected dividends to grow 20%/year through 2015 despite low natural gas liquids prices, and said the needs for North American energy infrastructure would present opportunities for WMB and WPZ. Comment! [Energy, On the Move]
Tuesday, May 7, 5:54 PM More on Williams Cos. (WMB) Q1 results: The 62% drop in Q1 earnings is attributed to a 50% decline in natural gas liquids margins at Williams Partners (WPZ). Issues downside guidance, seeing EPS of $0.72 vs. $1.00 consensus for FY 2013 and $1.30 vs. $1.40 consensus for 2014. WPZ lowers 2013-14 guidance for earnings and distributable cash flow. WMB -3.4%, WPZ +0.2% AH. Comment! [Energy, Earnings, On the Move]
Tuesday, May 7, 4:05 PM Williams Partners (WPZ): Q1 EPS of $0.50 beats by $0.01. (PR) Comment! [Earnings, Breaking News]
Tuesday, May 7, 12:10 AM Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GA, GPOR, HTA, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z 1 Comment [Earnings]
Monday, May 6, 5:35 PM Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GTEK, GA, GPOR, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z 1 Comment [Earnings]
Thursday, May 2, 3:11 PM Williams Partners (WPZ -2.6%) is downgraded to Neutral from Buy at BofA/Merrill, which views WPZ's risk/reward profile as balanced given its robust backlog of organic growth projects offset by weak natural gas liquids pricing, tight cash distribution coverage and H2 2013 equity needs. Comment! [Energy, Quick Ideas, On the Move]
Thursday, April 11, 5:47 PM Williams Partners (WPZ) agrees to form a JV with Shell (RDS.A, RDS.B) to provide gas gathering and processing services for production at Marcellus and Utica shale wells in Pennsylvania and Ohio. The JV plans to construct a 200M cu. ft./day cryogenic gas processing plant and related facilities. WPZ says it will initially own substantially all of the JV and operate the assets. Comment! [Energy]
Monday, March 4, 4:48 PM Williams Partners (WPZ) -3.4% AH after announcing plans for a public offering of 10M common units and a concurrent private placement of 3M common units to Williams Cos. (WMB) WPZ plans to use the net proceeds to pay down debt and for general partnership purposes. 1 Comment [Energy, On the Move]
Monday, February 25, 3:18 PM 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. Comment! [Energy, Quick Ideas, On the Move]
Wednesday, February 20, 4:03 PM Williams Partners (WPZ): Q4 EPS of $0.42 misses by $0.08. (PR) Comment! [Earnings, Breaking News]
Wednesday, February 20, 12:10 AM Notable earnings after Wednesday’s close: AUY, CAKE, CROX, CXO, DEPO, ETE, ETP, FLR, FST, GDP, GNK, HLX, IAG, IDCC, JACK, KBR, PAAS, PPO, PVA, RBCN, RGP, SAM, SB, SM, SNPS, STAG, STR, SXL, SYNC, SZYM, TRN, TSLA, UNTD, WLT, WMB, WPZ, XCO Comment! [Earnings]
Tuesday, February 19, 5:35 PM Notable earnings after Wednesday’s close: AUY, CAKE, CROX, CXO, DEPO, ETE, ETP, FLR, FST, GDP, GNK, HLX, IAG, IDCC, JACK, KBR, PAAS, PPO, PVA, RBCN, RGP, SAM, SB, SM, SNPS, STAG, STR, SXL, SYNC, SZYM, TRN, TSLA, UNTD, WLT, WMB, WPZ, XCO Comment! [Earnings]
Friday, January 11, 3:52 PM Williams Partners (WPZ) is initiated with a Buy rating at Global Hunter, which likes WPZ's attractive group of organic growth projects focused on the Marcellus shale and its Geismar olefins business. While 2012 brought heavy capex and equity issuance, the firm sees 2013-14 harvesting operating cash flow related to past spending, reduced capex and relatively light equity needs. Comment! [Energy, Quick Ideas]
Tuesday, January 8, 9:29 AM Williams Partners (WPZ) is seeking regulatory approval to build an additional natural gas delivery point from its Transco pipeline to Brooklyn and Queens, New York. The Rockaway Delivery Lateral Project would move ~647K dekatherms per day of gas delivery capacity to National Grid's distribution system. If approved, construction could begin in late 2013; the project would cost ~$182M. Comment! [Energy]
Monday, January 7, 10:23 AM Master limited partnerships came roaring back with 7% gains in the first week of the new year, but Guzman Investment Strategies sees gravity likely taking effect in the wake of a fresh slew of equity offerings in coming weeks or via the next D.C. crisis. Morgan Stanley cites refined products and oil pipelines as top performing subgroup: MPLX, OILT, SXL, MMP. 1 Comment [Energy]
Wednesday, October 31, 2012, 4:22 PM Williams Partners (WPZ) agrees to acquire Williams’ (WMB) 83% interest in the Geismar olefins production facility and WMB's refinery-grade propylene splitter for $2.26B and pipelines in the Gulf region for $100M. WPZ will complete the Geismar expansion and additional pipelines for a projected $430M. WPZ expects the olefins production will be accretive to distributable cash flow. Comment! [Energy, M&A]

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Williams Partners L.P.