Wells Fargo Upgrades Williams Partners LP (WPZ) to Outperform; Analyst Meeting Reinforces Positive Outlook

Wells Fargo upgraded Williams Partners LP (NYSE: WPZ) from Market Perform to Outperform, price target range $59-62.00.

Analyst, Sharon Lui, said, "We are upgrading WPZ to Outperform based on the following: (1) visible distribution growth – We forecast WPZ could increase its distribution by 8.8% annually (i.e. CAGR) over the next three years; (2) favorable NGL market tailwinds - we think WPZ is well positioned to benefit from the strong fundamental environment for natural gas liquids (NGLs), which should result in continued growth opportunities and elevated utilization rates of existing assets; and (3) valuation - WPZ trades at a yield essentially in-line with the large cap peer group despite possessing superior growth prospects (i.e. three year CAGR of 8.8% versus a median of 6.3%)."

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

Shares of Williams Partners LP closed at $54.07 yesterday.

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