Williams Companies (WMB) Reiterated at Buy by UBS: Targeting ISD by 4Q 2027

UBS analyst Manav Gupta reiterated a Buy rating and $78.00 price target on Williams Companies (NYSE: WMB)

The analyst commented, "Having secured important water permits, NESE is still to receive air permits from New Jersey. WMB is targeting ISD by 4Q 2027, in time for the winter heating season. FERC noted before physical construction can begin, Transco must file a written statement with FERC affirming that it has executed binding firm service agreements for volumes equivalent to those in its precedent agreements. For NESE, we estimate a build multiple of 6.0-7.0x, driving EBITDA upside of ~$150MM. On Constitution, WMB is seeking to obtain a reissued Certificate of Public Convenience and Necessity from FERC, and according to S&P Global, aims to target starting construction in 4Q 2026 and ISD of April 2028. Constitution's recent petition specifies an estimate of ~$1.2Bn for capex. We estimate a build multiple of 6.0x - 7.0x, adding ~$180MM in incremental EBITDA."

For an analyst ratings summary and ratings history on Williams Companies click here. For more ratings news on Williams Companies click here.

Shares of Williams Companies closed at $60.32 yesterday.

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