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Energy

Williams Secondary Offering Boosts Share Price (WMB, WPZ)

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By Paul Ausick Updated Published
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After the markets closed last night, Williams Companies Inc. (NYSE: WMB) announced a secondary stock offering of 26 million shares, some of the proceeds of which would be used to buy additional shares of its pipeline company Williams Partners L.P. (NYSE: WPZ) which recently acquired a gathering system in the Marcellus shale play (our coverage here).

Williams Cos. priced the offering at $30.59/share this morning, exactly the closing price for the stock last night. As a result, investors have actually sent shares higher today.

Williams Cos. shares are trading now at $30.82 in a 52-week range of $21.90-$33.47. Goldman Sachs added Williams Cos. to its ‘Conviction Buy List’ in late February.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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