Williams is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide - including Transco, the nation's largest volume and fastest growing pipeline - and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.

Company profile
Ticker
WMB
Exchange
Website
CEO
Alan Armstrong
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
WILLIAMS COMPANIES INC
SEC CIK
Corporate docs
Subsidiaries
Alliance Canada Marketing L.P. • Alliance Canada Marketing LTD • Appalachia Midstream Services, L.L.C. • Aux Sable Liquid Products Inc. • Aux Sable Liquid Products LP • Aux Sable Midstream LLC • Bargath LLC • Baton Rouge Fractionators LLC • Baton Rouge Pipeline LLC • Black Marlin Pipeline LLC ...
IRS number
730569878
WMB stock data
News
Williams Enters Agreement With PennEnergy Resources; Terms Not Disclosed
8 Aug 22
$1000 Invested In This Stock 20 Years Ago Would Be Worth $11,000 Today
5 Aug 22
Expert Ratings for Williams Companies
3 Aug 22
Mizuho Maintains Buy on Williams Companies, Raises Price Target to $40
3 Aug 22
Wells Fargo Maintains Overweight on Williams Companies, Raises Price Target to $40
3 Aug 22
Press releases
Williams Enters Agreement with PennEnergy Resources to Market and Deliver Certified, Low Emissions Next Gen Gas
8 Aug 22
Williams Prices $1.75 Billion of Senior Notes
3 Aug 22
Williams Invests in Technology to Generate Zero-Emission Hydrogen with Natural Gas
2 Aug 22
Williams Reports Strong Second-Quarter Results; Announces Another 2022 Guidance Increase
1 Aug 22
Williams Shows Progress Toward 2030 Climate Commitment in Latest Sustainability Report
28 Jul 22
Analyst ratings and price targets
Current price
Average target
$40.67
Low target
$40.00
High target
$42.00
Mizuho
Maintains
$40.00
Wells Fargo
Maintains
$40.00
Raymond James
Maintains
$42.00
Calendar
1 Aug 22
13 Aug 22
31 Dec 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 133M | 133M | 133M | 133M | 133M | 133M |
Cash burn (monthly) | 157M | 89M | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 228.77M | 129.69M | n/a | n/a | n/a | n/a |
Cash remaining | -95.77M | 3.31M | n/a | n/a | n/a | n/a |
Runway (months of cash) | -0.6 | 0.0 | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
8 Jun 22 | Debbie L. Cowan | Common Stock | Sell | Dispose S | No | No | 37.755 | 1,000 | 37.76K | 62,891 |
8 Jun 22 | Debbie L. Cowan | Common Stock | Sell | Dispose S | No | No | 37.75 | 35,228 | 1.33M | 63,891 |
4 May 22 | Wilson Terrance Lane | Common Stock | Sell | Dispose S | No | No | 36.915 | 50,000 | 1.85M | 208,489 |
4 May 22 | Wilson Terrance Lane | Common Stock | Option exercise | Acquire M | No | No | 29.09 | 50,000 | 1.45M | 258,489 |
4 May 22 | Wilson Terrance Lane | Employee Options Common Stock | Option exercise | Dispose M | No | No | 29.09 | 50,000 | 1.45M | 928 |
26 Apr 22 | Stephen W Bergstrom | Common Stock | Grant | Acquire A | No | No | 0 | 10,930 | 0 | 116,843 |
26 Apr 22 | Nancy Buese | Common Stock | Grant | Acquire A | No | No | 0 | 5,101 | 0 | 33,019 |
26 Apr 22 | Creel Michael A | Common Stock | Grant | Acquire A | No | No | 0 | 5,101 | 0 | 47,746 |
Institutional ownership, Q1 2022
84.2% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 1083 |
Opened positions | 170 |
Closed positions | 105 |
Increased positions | 431 |
Reduced positions | 310 |
13F shares | Current |
---|---|
Total value | 34.3B |
Total shares | 1.03B |
Total puts | 6.91M |
Total calls | 6.2M |
Total put/call ratio | 1.1 |
Largest owners | Shares | Value |
---|---|---|
Vanguard | 122.91M | $4.11B |
BLK Blackrock | 113.61M | $3.8B |
STT State Street | 88.2M | $2.95B |
Dodge & Cox | 70.78M | $2.36B |
BAC Bank Of America | 35.9M | $1.2B |
DB Deutsche Bank AG - Registered Shares | 25.92M | $866.01M |
JPM JPMorgan Chase & Co. | 25.72M | $859.28M |
Geode Capital Management | 24.17M | $805.59M |
Clearbridge Advisors | 20.88M | $697.55M |
BEN Franklin Resources | 16.88M | $563.84M |
Financial report summary
?Competition
Westlake Chemical PartnersRisks
- FORWARD-LOOKING STATEMENTS AND CAUTIONARY STATEMENT
- The financial condition of our natural gas transportation and midstream businesses is dependent on the continued availability of natural gas supplies in the supply basins that we access and demand for those supplies in the markets we serve.
- Prices for natural gas, NGLs, oil, and other commodities, are volatile and this volatility has and could continue to adversely affect our financial condition, results of operations, cash flows, access to capital, and ability to maintain or grow our businesses.
- We are exposed to the credit risk of our customers and counterparties, and our credit risk management will not be able to completely eliminate such risk.
- We face opposition to operation and expansion of our pipelines and facilities from various individuals and groups.
- We may not be able to grow or effectively manage our growth.
- Our industry is highly competitive and increased competitive pressure could adversely affect our business and operating results.
- We do not own 100 percent of the equity interests of certain subsidiaries, including the Partially Owned Entities, which may limit our ability to operate and control these subsidiaries. Certain operations, including the Partially Owned Entities, are conducted through arrangements that may limit our ability to operate and control these operations.
- We may not be able to replace, extend, or add additional customer contracts or contracted volumes on favorable terms, or at all, which could affect our financial condition, the amount of cash available to pay dividends, and our ability to grow.
- Certain of our gas pipeline services are subject to long-term, fixed-price contracts that are not subject to adjustment, even if our cost to perform such services exceeds the revenues received from such contracts.
- Some of our businesses are exposed to supplier concentration risks arising from dependence on a single or a limited number of suppliers.
- Failure of our service providers or disruptions to our outsourcing relationships might negatively impact our ability to conduct our business.
- An impairment of our assets, including property, plant, and equipment, intangible assets, and/or equity-method investments, could reduce our earnings.
- Increasing scrutiny and changing expectations from stakeholders with respect to our environmental, social and governance practices may impose additional costs on us or expose us to new or additional risks.
- We may be subject to physical and financial risks associated with climate change.
- Our operations are subject to operational hazards and unforeseen interruptions.
- Our business could be negatively impacted by acts of terrorism and related disruptions.
- A breach of our information technology infrastructure, including a breach caused by a cybersecurity attack on us or third parties with whom we are interconnected, may interfere with the safe operation of our assets, result in the disclosure of personal or proprietary information, and harm our reputation.
- If third-party pipelines and other facilities interconnected to our pipelines and facilities become unavailable to transport natural gas and NGLs or to treat natural gas, our revenues could be adversely affected.
- Our operating results for certain components of our business might fluctuate on a seasonal basis.
- We do not own all of the land on which our pipelines and facilities are located, which could disrupt our operations.
- Our business could be negatively impacted as a result of stockholder activism.
- Our costs and funding obligations for our defined benefit pension plans and costs for our other postretirement benefit plans are affected by factors beyond our control.
- A downgrade of our credit ratings, which are determined outside of our control by independent third parties, could impact our liquidity, access to capital, and our costs of doing business.
- Difficult conditions in the global financial markets and the economy in general could negatively affect our business and results of operations.
- Restrictions in our debt agreements and the amount of our indebtedness may affect our future financial and operating flexibility.
- Changes to interest rates or increases in interest rates could adversely impact our access to credit, share price, our ability to issue securities or incur debt for acquisitions or other purposes, and our ability to make cash dividends at our intended levels.
- Our hedging activities might not be effective and could increase the volatility of our results.
- The operation of our businesses might be adversely affected by regulatory proceedings, changes in government regulations or in their interpretation or implementation, or the introduction of new laws or regulations applicable to our businesses or our customers.
- The natural gas sales, transportation, and storage operations of our gas pipelines are subject to regulation by the FERC, which could have an adverse impact on their ability to establish transportation and storage rates that would allow them to recover the full cost of operating their respective pipelines and storage assets, including a reasonable rate of return.
- Our operations are subject to environmental laws and regulations, including laws and regulations relating to climate change and greenhouse gas emissions, which may expose us to significant costs, liabilities, and expenditures that could exceed our expectations.
- We face risks related to the COVID-19 pandemic and other health epidemics.
- We do not insure against all potential risks and losses and could be seriously harmed by unexpected liabilities or by the inability of our insurers to satisfy our claims.
- Failure to attract and retain an appropriately qualified workforce could negatively impact our results of operations.
Management Discussion
- Net income (loss) attributable to The Williams Companies, Inc., for the six months ended June 30, 2022, increased $50 million compared to the six months ended June 30, 2021, reflecting the benefit of higher service revenues from commodity-based gathering and processing rates and higher gathering volumes, including from the Trace Acquisition in the West, as well as Transco’s Leidy South project placed in service during the second half of 2021, higher results from our upstream operations associated with increased scale of operations, higher commodity margins, higher equity earnings, and favorable interest expense due to debt retirements. These favorable impacts were partially offset by a $356 million unfavorable change in net unrealized loss on commodity derivatives, increased intangible asset amortization, the absence of a $77 million favorable impact in 2021 from Winter Storm Uri, and higher selling, general, and administrative expenses, primarily resulting from the Sequent Acquisition. The tax provision benefited from $134 million associated with the release of valuation allowances on deferred income tax assets and federal income tax settlements.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
|
New words:
Banking, Bbl, Carolina, character, contested, employ, evidence, highest, light, lock, par, premium, release, released, renegotiate, review, taxable, validation
Removed:
actuarial, AOCI, applicable, compressor, extended, Mt, producing, segregate
Financial reports
Current reports
8-K
Entry into a Material Definitive Agreement
8 Aug 22
8-K
Regulation FD Disclosure
8 Aug 22
8-K
Announces Another 2022 Guidance Increase
1 Aug 22
8-K
Other Events
2 May 22
8-K
Results of Operations and Financial Condition
2 May 22
8-K
Departure of Directors or Certain Officers
28 Apr 22
8-K
Departure of Directors or Certain Officers
28 Apr 22
8-K
Results of Operations and Financial Condition
22 Feb 22
8-K
Williams Appoints Richard Muncrief and Jesse Tyson to Board of Directors
3 Feb 22
8-K
Williams Announces Chief Financial Officer and Chief Accounting Officer
13 Dec 21
Registration and prospectus
424B2
Prospectus for primary offering
5 Aug 22
FWP
Free writing prospectus
3 Aug 22
424B5
Prospectus supplement for primary offering
3 Aug 22
424B2
Prospectus for primary offering
7 Oct 21
FWP
Free writing prospectus
5 Oct 21
424B5
Prospectus supplement for primary offering
5 Oct 21
424B2
Prospectus for primary offering
28 Feb 21
FWP
Free writing prospectus
25 Feb 21
424B5
Prospectus supplement for primary offering
25 Feb 21
S-3ASR
Automatic shelf registration
24 Feb 21
Proxies
DEFA14A
Additional proxy soliciting materials
17 Mar 22
DEFA14A
Additional proxy soliciting materials
18 Mar 21
DEFA14A
Additional proxy soliciting materials
15 Apr 20
DEFA14A
Additional proxy soliciting materials
30 Mar 20
DEFA14A
Additional proxy soliciting materials
26 Mar 20
DEFA14A
Additional proxy soliciting materials
19 Mar 20
DEF 14A
Definitive proxy
19 Mar 20
DEFA14A
Additional proxy soliciting materials
29 Mar 19
Other
CERT
Certification of approval for exchange listing
23 Mar 20
EFFECT
Notice of effectiveness
13 Jul 18
CORRESP
Correspondence with SEC
8 Jul 18
CORRESP
Correspondence with SEC
26 Jun 18
UPLOAD
Letter from SEC
24 Jun 18
UPLOAD
Letter from SEC
9 Nov 16
CORRESP
Correspondence with SEC
13 Oct 16
UPLOAD
Letter from SEC
2 Oct 16
UPLOAD
Letter from SEC
13 Sep 16
UPLOAD
Letter from SEC
8 Aug 12
Ownership
SC 13G/A
WILLIAMS COMPANIES / BlackRock ownership change
8 Jul 22
11-K
Annual report of employee stock purchases
9 Jun 22
4
WILLIAMS COMPANIES / Debbie L. Cowan ownership change
9 Jun 22
4
WILLIAMS COMPANIES / Terrance Lane Wilson ownership change
4 May 22
4
WILLIAMS COMPANIES / Jesse J Tyson ownership change
28 Apr 22
4
WILLIAMS COMPANIES / WILLIAM H SPENCE ownership change
28 Apr 22
4
WILLIAMS COMPANIES / Murray D Smith ownership change
28 Apr 22
4
WILLIAMS COMPANIES / SCOTT D SHEFFIELD ownership change
28 Apr 22
4
WILLIAMS COMPANIES / ROSE M ROBESON ownership change
28 Apr 22
4
WILLIAMS COMPANIES / Peter A Ragauss ownership change
28 Apr 22
Transcripts
2022 Q2
Earnings call transcript
2 Aug 22
2022 Q1
Earnings call transcript
3 May 22
2021 Q3
Earnings call transcript
2 Nov 21
2021 Q2
Earnings call transcript
3 Aug 21
2021 Q1
Earnings call transcript
4 May 21
2020 Q4
Earnings call transcript
23 Feb 21
2020 Q3
Earnings call transcript
3 Nov 20
2020 Q3
Earnings call transcript
3 Nov 20
2020 Q3
Earnings call transcript
3 Nov 20
2020 Q2
Earnings call transcript
4 Aug 20
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