Travel Ink/DigitalVision via Getty ImagesThose who follow my work closely know that I have a great deal of affection for the pipeline/midstream space. After all, as of this writing, the third-largest holding in my portfolio, accounting for nearly 13% of total assets, is in this space. That firm is not The Williams Companies (NYSE:WMB). However, after recognizing that I haven't written an article about Williams Companies in six years, I figured it would be a good idea to revisit the firm and see what kin ...

It has been about a month since the last earnings report for Williams Companies, Inc. (The) (WMB) . Shares have added about 5.7% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is The Williams Companies due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Williams Q1 Earnin ...

The Williams Companies, Inc. (WMB) has decided not to proceed with the Northeast Supply Enhancement (NESE) project. Transcontinental Gas Pipeline Company LLC (Transco), a subsidiary of Williams, had proposed the construction of a system of 26 and 42inch diameter natural gas pipeline stretching from Pennsylvania through New Jersey to a transfer point about three miles offshore from the Rockaway Peninsula in Queens, New York. The project was aimed to serve a gas utility, National Grid.Per Williams’ claims, co ...

William_Potter/iStock via Getty Images Introduction I am a huge fan of natural gas. I believe it's one of the best things "ever," as it is a clean-burning alternative to coal, a relatively cheap commodity making the energy transition easier, and a great way for investors to make money. As we can see below, in 2008, natural gas accounted for roughly a fifth of the U.S. power generation. Last year, that number was 43%, pushing coal to less than 20%. Range Resources On top of that, it's now getting support fro ...

Core Viewpoint - The Williams Companies (WMB) is positioned as a strong investment opportunity within the energy sector, particularly in the natural gas infrastructure space, with positive earnings growth and technical momentum anticipated in the coming quarters [4][20]. Company Overview - Williams operates primarily in the U.S. energy infrastructure sector, focusing on natural gas through various segments including Transmission & Gulf of Mexico, Northeast G&P, West, and Gas & NGL Marketing Services [4]. - The company reported Q1 2024 non-GAAP EPS of $0.59, exceeding Wall Street's consensus of $0.49, with revenues of $2.77 billion, a 10% decline year-over-year, but still a modest beat [4]. Financial Performance - Q1 adjusted EBITDA reached $1.93 billion, marking an 8% increase from the previous year and a 9% beat on expectations [4]. - The dividend coverage ratio stands at 2.6x, with a current yield of 4.9% [4][10]. - Analysts project adjusted EBITDA for the year to be between $6.95 billion and $7.1 billion, driven by higher natural gas demand, particularly from LNG exports and data center power demand [9]. Earnings and Valuation Forecast - Earnings per share (EPS) are expected to decline by 4% in 2024 but are projected to rebound in subsequent years, with estimates of $1.84 in 2024, $1.99 in 2025, and $2.02 in 2026 [11]. - The current P/E ratio is approximately 20x, which is higher than many peers in the energy sector, but the EV/EBITDA ratio remains competitive at around 10 [10][12]. Market Trends - The energy transport sector has seen a 34% year-over-year increase, outperforming the S&P 500 [4]. - Data center power demand is expected to double, reaching 8% of total U.S. power demand by 2030, contributing to increased energy infrastructure needs [5][6]. Technical Analysis - WMB shares have recently broken through key resistance levels, indicating bullish momentum, with a price target of approximately $48 based on technical patterns [18][20]. - The long-term 200-day moving average is upward-sloping, suggesting a positive primary trend for the stock [18].

Core Insights - The Williams Companies, Inc. (WMB) reported first-quarter 2024 adjusted earnings per share of 59 cents, exceeding the Zacks Consensus Estimate of 49 cents and improving from 56 cents in the same period last year [1] - Revenues for the quarter were $2.8 billion, falling short of the Zacks Consensus Estimate of $2.9 billion and down from $3.1 billion year-over-year, attributed to lower service revenues and net losses from commodity derivatives [1] Financial Performance - Adjusted EBITDA for the quarter was $1.9 billion, reflecting a year-over-year increase of 7.7% [2] - Cash flow from operations was $1.2 billion, a decrease of 18.5% compared to the same quarter in 2023 [2] Segmental Analysis - Transmission & Gulf of Mexico segment reported adjusted EBITDA of $839 million, up 15.2% year-over-year, driven by acquisitions and expansion projects [3] - West segment's adjusted EBITDA totaled $328 million, a 14.7% increase from the prior year, attributed to acquisitions and improved commodity margins [3] - Northeast G&P segment achieved adjusted EBITDA of $504 million, up 3.9% from $485 million in the previous year, linked to higher rates and volumes [3] - Gas & NGL Marketing Services unit generated adjusted EBITDA of $189 million, down from $231 million in the prior year [4] Costs, Capital Expenditure & Balance Sheet - Total costs and expenses for the quarter were $1.8 billion, an increase of 2.2% from $1.7 billion year-over-year [5] - Total capital expenditure was $544 million, slightly down from $545 million a year ago [5] - As of March 31, 2024, the company had cash and cash equivalents of $667 million and long-term debt of $24.1 billion, with a debt-to-capitalization ratio of 65.9% [5] Infrastructure Expansion - The company completed the acquisition of six storage facilities with a total capacity of 115 Bcf across Louisiana and Mississippi, aimed at meeting rising LNG export and power generation demands [6] - Williams inaugurated Transco's Carolina Market Link and received FERC notice to proceed with Transco's Commonwealth Energy Connect [6] - Construction commenced on Transco's Southside Reliability Enhancement and Southeast Energy Connector projects, with the initial phase of Transco's Regional Energy Access generating earnings during the quarter [6] Guidance - The company anticipates adjusted EBITDA in the range of $6.8 billion to $7.1 billion for the top half of 2024, with growth capex between $1.45 billion and $1.75 billion [9] - Maintenance capex is expected to be between $1.1 billion and $1.3 billion, including $350 million for emission reduction and modernization initiatives [9] - A 6.1% increase in dividends to $1.90 per share is expected in 2024, up from $1.79 in 2023 [9] - For 2025, adjusted EBITDA is projected between $7.2 billion and $7.6 billion, with growth capex of $1.65 billion to $1.95 billion [9]

Q1 2024 Financial Results Presentation May 7, 2024 1 Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955 (“PSLRA”) relating to, among other things, expected commercial and financial results; Rigel’s ability to earn and receive milestone payments; expectations related to the potential and market opportunity of REZLIDHIA® (olutasidenib) as therapeutics for relapsed or refractory acute myeloid leukemia (AML) ...

Williams Companies, Inc. (NYSE:WMB) Q1 2024 Earnings Conference Call May 7, 2024 9:30 AM ET Company Participants Danilo Juvane - VP, IR Alan Armstrong - President, CEO & Director John Porter - SVP & CFO Micheal Dunn - EVP & COO Chad Zamarin - EVP, Corporate Strategic Development Conference Call Participants Spiro Dounis - Citigroup Jeremy Tonet - JPMorgan Chase & Co. Manav Gupta - UBS John Mackay - Goldman Sachs Group Praneeth Satish - Wells Fargo Securities Tristan Richardson - Scotiabank Theresa Chen - Ba ...

Williams Companies, Inc. (The) (WMB) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.41%. A quarter ago, it was expected that this pipeline operator would post earnings of $0.47 per share when it actually produced earnings of $0.48, delivering a surprise of 2.13%.Over the last four ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ☑ ACT OF 1934 For the quarterly period ended March 31, 2024 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ☐ ACT OF 1934 For the transition period from _____________ to _____________ Commission file number 1-4174 THE WILLIAMS COMPANIES, INC. (Exact name of registrant as specified in its charter) Delaware 73-0 ...