Truist Securities: ' Williams Companies (WMB) Acquiring Momentum'

Truist Securities analyst Gabe Daoud reiterated a Buy rating and $84.00 price target on Williams Companies (NYSE: WMB).

The analyst commented: "Acquiring Momentum; Announce Guidance Raise and Pipeline Projects; WMB reported a slight adjusted EBITDA miss of -2% as total EBITDA landed at $1,921MM vs. our $1,956MM / consensus $1,934MM. Capex during the quarter was $1,834MM compared to our $2,462MM and $2,117MM for consensus. While results were slightly below to in line with our estimates, the focus will be on WMB's ability to continue adding to its power project backlog, particularly after the previously announced Power JV agreement freed up capital (backlog for these projects remained $9.6Bn) as well as integrating the Haynesvillebased Momentum Midstream. Williams also raised its guidance by $200MM at the midpoint to $8.4Bn, reflecting partial year contributions from its acquisition of Momentum Midstream."

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 $70.43 yesterday.

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