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Stock Update (NYSE:WMB): Energy Transfer, Williams amend deal to expedite admin process

[Reuters] – Energy Transfer Equity LP and Williams Companies Inc amended the terms of their $20 billion-deal agreement to reduce the number of days specified for completing some administrative requirements. The amendment changes the deadline for the receipt of an election form to 20 business days from the date the form is mailed, or to three business days before the anticipated closing date of the deal – whichever is earlier. Energy Transfer also said in a regulatory filing on Tuesday that the Securities and Exchange Commission had requested for additional information about the deal to be included in the proxy statement, which the companies may not mail to shareholders before the SEC completes its review. Read more on this. Williams Companies, Inc. (WMB) , with a current value of $14.12B, began trading this morning at $18.85. Today, shares have traded between $18.59 and $18.95 per share and has traded between $10.22 and $61.38 over the past year. WMB shares are currently priced at 19.19x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 3.39x earnings multiple. The company pays shareholders $2.56 per share annually in dividends, yielding 13.20%. In a review of the consensus earnings estimate this quarter, 8 sell-side analysts are looking at $0.22 per share, which would be $0.06 better than the year-ago quarter and a $0.03 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $0.98 would be a $0.44 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.94 Billion. If reported, that would be a 12.79% increase over the year-ago quarter. Recently, Jefferies upgraded WMB from Hold to Buy (Dec 18, 2015). Previously, Scotia Howard Weil downgraded WMB from Sector Outperform to Sector Perform. When considering if the stock is under or overvalued, the average price target is $24.31, which is 28.97% above where the stock opened this morning. See more in (NYSE:WMB) Similar Articles: Stock Update: Williams Companies Inc (NYSE:WMB) – Williams Partners, Shell and Nexen Reach Agreement on Deepwater Gulf Project Stock Update (NYSE:WMB): Technical Coverage on Oil & Gas Pipelines Stocks – Kinder Morgan, Energy Transfer Equity, Williams Cos., and Spectra Energy Stock Update: Kinder Morgan Inc (NYSE:KMI) – Technical Coverage on Oil & Gas Pipelines Stocks – Kinder Morgan, Energy Transfer Equity, Williams Cos., and Spectra Energy
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