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.…
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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.