Williams Secondary Offering Boosts Share Price (WMB, WPZ)
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.…
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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Paul Ausick has been writing for 247Wallst.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.