Williams Stock Price, News & Analysis

Williams (NYSE: WMB) has announced the pricing of a public offering of $600 million in 2.600% Senior Notes due 2031 and $650 million in 3.500% Senior Notes due 2051. The new notes will trade interchangeably with previous issuances. The settlement date is expected on October 8, 2021. Proceeds will be used for general corporate purposes, including repaying $1.25 billion of 3.60% Senior Notes due 2022. Barclays Capital, SMBC Nikko, Truist Securities, and Wells Fargo are joint book-running managers for the offering.

Williams (NYSE: WMB) has announced a new Share Repurchase Program, authorizing up to $1.5 billion for the buyback of its common stock. This initiative is effective immediately and aligns with the company's strategy to maximize shareholder value.

President and CEO Alan Armstrong expressed confidence in the company’s robust balance sheet and excess free cash flow, indicating that the buyback will be opportunistically executed based on market conditions. The company aims to repurchase shares while maintaining its current credit ratings.

Williams (NYSE: WMB) will participate in the 2021 Barclays CEO-Energy Power Conference on September 8. President and CEO Alan Armstrong will present at 8:35 a.m. Eastern Time, followed by a Q&A session. A live webcast and presentation slides will be accessible on the company's investor relations website. Williams is a leader in natural gas infrastructure, operating over 30,000 miles of pipelines, including Transco, the largest and fastest-growing pipeline in the nation. The company connects supply with clean energy demand across the U.S.

Williams (NYSE: WMB) announced that John Chandler, CFO, will retire on March 31, 2022. Chandler joined Williams in 2017, leading financial operations and achieving notable improvements in the company's balance sheet and credit rating metrics. His departure marks the end of a significant tenure, during which he contributed to the company's growth and value for shareholders. Chandler expressed gratitude for his role in advancing Williams' strategic vision and will assist in finding a successor. Williams remains committed to providing infrastructure for the clean energy economy and operates over 30,000 miles of pipelines.

Williams (NYSE: WMB) has secured a pivotal agreement with Shell Offshore Inc. and Chevron U.S.A. Inc. for offshore natural gas gathering, crude oil transportation, and onshore natural gas processing services for the Whale development, situated about 10 miles from the Perdido facility. The project includes a 25-mile gas lateral pipeline and a 125-mile oil pipeline, with the first production expected in 2024. Williams aims to enhance its Gulf of Mexico infrastructure, expanding its operational footprint significantly as it connects vital deepwater resources.

Williams reported strong financial results for Q2 2021, with net income of $304 million ($0.25 per share) and adjusted EPS of $0.27, up 8% year-over-year. Cash flow from operations decreased to $1.1 billion, while available funds from operations increased to $919 million. Adjusted EBITDA rose to $1.317 billion, a 6% increase. The company achieved record gas gathering volumes of 13.79 Bcf/d and improved its dividend coverage ratio to 1.85x. Key strategic transactions were executed, including joint ventures and acquisitions aimed at optimizing assets and growth.

Williams (NYSE: WMB) has announced a quarterly dividend of $0.41 per share, totaling $1.64 annually, payable on September 27, 2021, to stockholders of record by September 10, 2021. This dividend reflects a 2.5% increase from the $0.40 per share dividend paid in September 2020, continuing Williams' streak of dividend payments every quarter since 1974. A portion of this distribution may qualify as a return of capital for tax purposes.

Williams (NYSE: WMB) is set to announce its second-quarter 2021 financial results on Monday, Aug. 2, 2021, after market close. A conference call with analysts will occur on Aug. 3, 2021, at 9:30 a.m. Eastern Time. The call can be joined via phone or webcast, details of which can be found on Williams' website. As a leader in natural gas infrastructure, Williams operates over 30,000 miles of pipelines and manages a significant portion of the U.S. natural gas supply.