Williams Stock Price, News & Analysis

Williams reported strong financial results for the year ending December 31, 2022, with a GAAP net income of $2.046 billion, a 35% increase from 2021. Adjusted EBITDA rose to $6.418 billion, up 14% year-over-year. The company achieved record gathering volumes of 16.5 Bcf/d. In Q4, GAAP net income reached $668 million, reflecting a 37% year-over-year rise. Williams completed three strategic acquisitions and secured a FERC certificate for the Regional Energy Access expansion project. The dividend increased by 5.3% for 2023, amounting to $1.79. The company anticipates a 3% growth in 2023 and aims for an Adjusted EBITDA midpoint of $6.6 billion.

Williams (NYSE: WMB) has entered into agreements with Chevron U.S.A. Inc. to enhance natural gas development in the Haynesville Basin and the Gulf of Mexico. Williams will provide natural gas gathering services for Chevron's 26,000-acre Haynesville dedication and in return, Chevron commits to long-term capacity on Williams' Louisiana Energy Gateway (LEG) project, set to start in 2024. This project aims to connect Haynesville gas production to premium markets, supporting lower carbon energy strategies. Additionally, Williams will utilize existing infrastructure for Chevron's ongoing Ballymore project in the Gulf, which is designed for 75,000 barrels of crude oil production per day.

Williams (NYSE: WMB) has finalized its acquisition of MountainWest Pipelines Holding Company for a total transaction value of $1.5 billion, comprising $1.07 billion in cash and $0.43 billion of assumed debt. This acquisition adds approximately 2,000 miles of interstate natural gas pipelines primarily in Utah, Wyoming, and Colorado, with a transmission capacity of around 8 Bcf/d and total storage capacity of 56 Bcf. Williams aims to enhance its infrastructure and service delivery, specifically expanding its reach in the Rockies markets, including Salt Lake City.

Southwest Gas Holdings has completed the sale of MountainWest Pipelines to Williams for $1.5 billion. This all-cash transaction is pivotal for simplifying Southwest Gas's corporate structure and refocusing on its core regulated utility business. The net proceeds will be used to repay $1.075 billion of debt, reducing the outstanding loan to approximately $73 million. Additionally, the company plans to spin off Centuri, expected by Q4 2023 or Q1 2024, aiming to enhance stability and investor alignment while emphasizing regulated cash flows, efficient capital deployment, and a commitment to safety.

Williams (NYSE: WMB) announced the appointment of Carri Lockhart as an independent director on its Board, effective February 10, 2023. With nearly 30 years in the oil and gas sector, Lockhart previously served as Chief Technology Officer at Equinor. She will join the Compensation and Management Development Committee and the Environmental, Health and Safety Committee. The Board now consists of 12 members, with 11 being independent. Lockhart fills the vacancy left by Nancy Buese, who resigned due to scheduling conflicts after accepting a role at Baker Hughes. This leadership change aims to support Williams' focus on the clean energy economy.

Williams (NYSE: WMB) President and CEO Alan Armstrong will participate in the 41st annual CERAWeek in Houston, Texas, from March 6-10. He will be part of a panel discussing North American Gas: Assuring Supply and Meeting Demand on March 8 at 2:25 PM CT. Key topics include the evolution of energy markets amidst gas infrastructure constraints and the impact of U.S. LNG exports on electricity markets. Other executives, including Chad Zamarin and Brian Hlavinka, will also speak on panels covering energy transitions and low-carbon innovations. Williams is a leader in natural gas transportation and storage, managing over 30,000 miles of pipelines.

Williams' (NYSE: WMB) board has declared a regular dividend of $0.4475 per share, translating to an annualized amount of $1.79, payable on March 27, 2023. Shareholders on record as of March 13, 2023 will receive this payment. This marks a 5.3% increase from the previous quarterly dividend of $0.425 per share, paid in December 2022. Williams has maintained a consistent dividend payment since 1974, reinforcing investor confidence amidst a focus on sustainable energy solutions.

Williams (NYSE: WMB) will announce its Q4 and full-year 2022 financial results on February 20, 2023, after market close. Following this, the company will host its 2023 Analyst Day in New York on February 21, 2023, at 8:30 a.m. ET. Management will discuss their natural gas-focused strategy and 2022 performance, emphasizing efficient operations and disciplined project execution. Presentation materials will be available on their Investor Relations website after the results are announced. A replay of the Analyst Day webcast will be accessible for at least 90 days.

Williams (NYSE: WMB) has promoted Chad Zamarin to Executive Vice President of Corporate Strategic Development, effective immediately. This expansion includes responsibilities for commodity marketing, alongside his ongoing roles in corporate strategy and business development. Zamarin joined Williams in 2017 and has been pivotal in advocating for natural gas as a clean energy solution. With over 30,000 miles of pipelines, Williams plays a crucial role in the U.S. natural gas market, handling approximately 30% of daily usage. His experience includes leadership roles at Cheniere Energy and NiSource.