Declared Dividend • May 26
First quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 12th June 2026 Payment date: 29th June 2026 Dividend yield will be 2.7%, which is lower than the industry average of 3.1%. Sustainability & Growth Dividend is covered by earnings (89% earnings payout ratio) but not covered by cash flows (356% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. EPS is expected to grow by 50% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. CEO, President & Director Chad Zamarin was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 15
The Williams Companies, Inc. to Report Q1, 2026 Results on May 04, 2026 The Williams Companies, Inc. announced that they will report Q1, 2026 results After-Market on May 04, 2026 Announcement • Mar 19
The Williams Companies, Inc., Annual General Meeting, Apr 28, 2026 The Williams Companies, Inc., Annual General Meeting, Apr 28, 2026. Location: meetnow.global/mhfnmg4, United States Upcoming Dividend • Mar 08
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 13 March 2026. Payment date: 30 March 2026. Payout ratio is on the higher end at 93%, and the cash payout ratio is above 100%. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.7%). Board Change • Mar 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. CEO, President & Director Chad Zamarin was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 01
Senior VP & General Counsel recently sold €881k worth of stock On the 24th of February, Terence Wilson sold around 14k shares on-market at roughly €61.87 per share. This transaction amounted to 5.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €7.8m more than they bought in the last 12 months. Reported Earnings • Feb 12
Full year 2025 earnings released: EPS: US$2.14 (vs US$1.82 in FY 2024) Full year 2025 results: EPS: US$2.14 (up from US$1.82 in FY 2024). Revenue: US$11.8b (up 10.0% from FY 2024). Net income: US$2.62b (up 18% from FY 2024). Profit margin: 22% (up from 21% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Declared Dividend • Feb 02
Third quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 13th March 2026 Payment date: 30th March 2026 Dividend yield will be 3.3%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not covered by earnings (102% earnings payout ratio) nor is it covered by cash flows (149% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. The company's earnings per share (EPS) would need to grow by 13% to bring the payout ratio under control. EPS is expected to grow by 51% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jan 27
The Williams Companies, Inc. Increases Regular Cash Dividend on Common Stock, Payable on March 30, 2026 The Williams Companies, Inc. board of directors has approved a regular dividend of $0.525 per share, or $2.10 annualized, on the company’s common stock, payable on March 30, 2026, to holders of record at the close of business on March 13, 2026. This is a 5% increase from Williams’ fourth-quarter 2025 quarterly dividend of $0.50 per share, paid in December 2025. Announcement • Jan 23
The Williams Companies, Inc. to Report Q4, 2025 Results on Feb 10, 2026 The Williams Companies, Inc. announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 10, 2026 Upcoming Dividend • Dec 06
Upcoming dividend of US$0.50 per share Eligible shareholders must have bought the stock before 12 December 2025. Payment date: 29 December 2025. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.0%). Buy Or Sell Opportunity • Dec 04
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €52.39. The fair value is estimated to be €65.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 7.5% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Announcement • Nov 08
Williams Secures Key Permits for Northeast Supply Enhancement Project Williams announced a significant regulatory milestone for its Northeast Supply Enhancement (NESE) project, securing the Clean Water Act Section 401 and 404 permits from the New Jersey Department of Environmental Protection (NJDEP) as well as the Section 401 Water Quality Certification and related permits from the New York State Department of Environmental Conservation (NYSDEC). The NESE project is designed to improve energy affordability and reliability in New York City by expanding access to critical natural gas infrastructure and displacing high-emitting and costly fuel oil, which is delivered into New York City by diesel trucks. NESE will enhance energy security, lower costs, and reduce emissions, and the project is expected to generate over $1 billion in investment, create thousands of construction-related jobs, and deliver long-term benefits to New York residents and commercial energy users. In parallel, Williams continues to advance the Constitution Pipeline project, a pipeline in upstate New York that will serve markets in New York, Massachusetts, Connecticut, Rhode Island, Vermont and Maine. The company has withdrawn its current water permit application with NYSDEC and is preparing to follow up with additional filings to ensure that this critical infrastructure project obtains the regulatory approvals needed for construction and operation. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: US$0.53 (vs US$0.58 in 3Q 2024) Third quarter 2025 results: EPS: US$0.53 (down from US$0.58 in 3Q 2024). Revenue: US$2.92b (up 10% from 3Q 2024). Net income: US$646.0m (down 8.4% from 3Q 2024). Profit margin: 22% (down from 27% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 9.8% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Nov 03
Second quarter dividend of US$0.50 announced Shareholders will receive a dividend of US$0.50. Ex-date: 12th December 2025 Payment date: 29th December 2025 Dividend yield will be 3.8%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is not adequately covered by earnings (98% earnings payout ratio) nor is it covered by cash flows (136% cash payout ratio). The dividend has decreased over the past 10 years, but has still been somewhat stable with no excessively large reductions to payments. The company's earnings per share (EPS) would need to grow by 9.0% to bring the payout ratio under control. EPS is expected to grow by 44% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Oct 28
Williams Announces Quarterly Cash Dividend, Payable on December 29, 2025 Williams’ board of directors has approved a regular dividend of $0.50 per share, or $2.00 annualized, on the company’s common stock, payable on December 29, 2025, to holders of record at the close of business on December 12, 2025. This is a 5.3% increase from Williams’ 2024 quarterly dividend of $0.4750 per share. Announcement • Oct 23
JERA Americas Inc. reached an agreement to acquire unknown minority stake in South Mansfield upstream asset in Louisiana from The Williams Companies, Inc. (NYSE:WMB) for approximately $400 million. JERA Americas Inc. reached an agreement to acquire unknown minority stake in South Mansfield upstream asset in Louisiana from The Williams Companies, Inc. (NYSE:WMB) for approximately $400 million on October 22, 2025. In related transaction JERA Americas Inc. agreed to acquire South Mansfield E&P, LLC from The Williams Companies, Inc and majority stake in South Mansfield upstream asset in Louisiana. The consideration consist of $398 million plus deferred monthly payments through 2029 that are based on a predefined development plan. JERA acquiring its interest in the Haynesville asset, which currently produces more than 500 MMscfd and includes 200 undeveloped locations, through an upfront investment of $1.5 billion. The transaction includes a future investment plan under which JERA will increase total production to 1 Bscfd. The Haynesville Acquisition’s strategic value is supported by robust current production and proven reserves, established gathering, treating and transport infrastructure, and proximity to Gulf Coast LNG and data center hubs. The sale of South Mansfield upstream is subject to customary closing conditions, including approval from the Committee for Foreign Investments in the United States. Closing is expected to occur by the end of 2025. Announcement • Oct 15
The Williams Companies, Inc. to Report Q3, 2025 Results on Nov 03, 2025 The Williams Companies, Inc. announced that they will report Q3, 2025 results After-Market on Nov 03, 2025 Announcement • Jul 30
The Williams Companies, Inc. Announces Quarterly Cash Dividend, Payable on September 30, 2024 Williams’ board of directors has approved a regular dividend of $0.4750 per share, or $1.90 annualized, on the company’s common stock, payable on September 30, 2024, to holders of record at the close of business on September 13, 2024. This is a 6.1% increase from Williams’ third-quarter 2023 quarterly dividend of $0.4475 per share, paid in September 2023. Announcement • Jul 17
The Williams Companies, Inc. to Report Q2, 2024 Results on Aug 05, 2024 The Williams Companies, Inc. announced that they will report Q2, 2024 results After-Market on Aug 05, 2024 Announcement • Apr 30
Williams Announces Quarterly Cash Dividend, Payable on June 24, 2024 Williams’ board of directors has approved a regular dividend of $0.4750 per share, or $1.90 annualized, on the company’s common stock, payable on June 24, 2024, to holders of record at the close of business on June 7, 2024. This is a 6.1% increase from Williams’ second-quarter 2023 quarterly dividend of $0.4475 per share, paid in June 2023. Announcement • Apr 17
The Williams Companies, Inc. to Report Q1, 2024 Results on May 06, 2024 The Williams Companies, Inc. announced that they will report Q1, 2024 results After-Market on May 06, 2024 Announcement • Mar 21
The Williams Companies, Inc., Annual General Meeting, Apr 30, 2024 The Williams Companies, Inc., Annual General Meeting, Apr 30, 2024, at 14:00 Central Daylight. Agenda: To consider to elect 12 Director Nominees for a One-Year Term; to approve, on an Advisory Basis, the Compensation of our Named Executive Officers; to ratify the Selection of Ernst & Young LLP as the Company’s Independent Registered Public Accounting Firm for the Fiscal Year ending December 31, 2024; and to consider other matters. Announcement • Jan 30
Williams Increases Quarterly Cash Dividend, Payable on March 25, 2024 The Williams Companies, Inc. has approved a regular dividend of $0.4750 per share, or $1.90 annualized, on the company’s common stock, payable on March 25, 2024, to holders of record at the close of business on March 8, 2024. This is a 6.1% increase from Williams’ fourth-quarter 2023 quarterly dividend of $0.4475 per share, paid in December 2023. Announcement • Jan 26
The Williams Companies, Inc. to Report Fiscal Year 2023 Results on Feb 14, 2024 The Williams Companies, Inc. announced that they will report fiscal year 2023 results Pre-Market on Feb 14, 2024 Announcement • Jan 24
Williams Appoints Donald “Don” R. Cravins, Jr., as Head of Government Affairs and Outreach Williams announced that Donald “Don” R. Cravins, Jr., has been named Head of Government Affairs and Outreach. Cravins joins Liz Bowman, who was named Vice President of Government Affairs for Williams in Nov. 2023.In his role, Cravins will be responsible for enhancing Williams’ relationships with key state and federal policymakers and lawmakers. In addition, he will set the strategic direction and objectives for Williams Government Affairs and Outreach teams, ensuring the integration of business priorities in Williams' policies and positions. Cravins most recently served as the Under Secretary for Minority Business Development at the United States Department of Commerce, a position to which he was appointed by President Biden and unanimously confirmed by the United States Senate. Previously, he was a U.S. Senate Chief of Staff, a Staff Director and Chief Counsel of the U.S. Senate Committee on Small Business and Entrepreneurship and served as a Louisiana State legislator. Cravins also held senior-level positions at the National Urban League and Charter Communications, and, since 2011, has served as a Lieutenant Colonel in the District of Columbia Army National Guard. Reporting directly to Cravins, Bowman leads Williams’ in-house government affairs team and directs the activities of external consultants, while also proactively partnering with operations leaders on project development to ensure Williams is positioned to deliver on its commitments. She will partner with Wilson and Cravins to further the voice of Natural Allies for a Clean Energy Future, a bipartisan coalition that promotes the vital role of natural gas in nation’s economic, security and climate leadership. Before joining Williams, Bowman served as vice president of Communications for the American Exploration and Production Council (AXPC), where she developed and executed advocacy strategies to further public policy priorities in support of leading U.S. upstream oil and natural gas producers. Prior to that, she served as communications director for U.S. Senator Joni Ernst, and in the previous Administration as the associate administrator for public affairs at EPA. Announcement • Dec 01
The Williams Companies, Inc. (NYSE:WMB) completed the acquisition of remaining 50% stake in Rocky Mountain Midstream LLC from Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR). The Williams Companies, Inc. (NYSE:WMB) entered into an agreement to acquire remaining 50% stake in Rocky Mountain Midstream LLC from Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) for approximately $710 million in October, 2023. Upon closing, Williams will own 100 percent of and will consolidate Rocky Mountain Midstream. Concurrently, In October 2023, The Williams Companies, Inc. agreed to acquire Cureton Front Range, LLC for $560 million. The transaction is expected to close in the fourth quarter of 2023. Howard Shelanski and Oliver Smith of Davis Polk is acted as legal advisor to The Williams Companies, Inc.
The Williams Companies, Inc. (NYSE:WMB) completed the acquisition of remaining 50% stake in Rocky Mountain Midstream LLC from Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) on November 30, 2023. Upcoming Dividend • Nov 30
Upcoming dividend of US$0.45 per share at 4.9% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 26 December 2023. Payout ratio and cash payout ratio are on the higher end at 77% and 81% respectively. Trailing yield: 4.9%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (2.9%). Recent Insider Transactions • Nov 23
Insider recently sold €2.0m worth of stock On the 20th of November, Debbie Pickle sold around 61k shares on-market at roughly €32.54 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.2m more than they bought in the last 12 months. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: US$0.54 (vs US$0.49 in 3Q 2022) Third quarter 2023 results: EPS: US$0.54 (up from US$0.49 in 3Q 2022). Revenue: US$2.54b (down 16% from 3Q 2022). Net income: US$654.0m (up 9.2% from 3Q 2022). Profit margin: 26% (up from 20% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Oct 25
Williams Announces Quarterly Cash Dividend, Payable on December 26, 2023 Williams’ board of directors has approved a regular dividend of $0.4475 per share, or $1.79 annualized, on the company’s common stock payable on December 26, 2023, to holders of record at the close of business on December 8, 2023. Buying Opportunity • Oct 20
Now 21% undervalued Over the last 90 days, the stock is up 9.0%. The fair value is estimated to be €42.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings is forecast to decline by 1.5% per annum over the same time period. Announcement • Oct 13
The Williams Companies, Inc. to Report Q3, 2023 Results on Nov 01, 2023 The Williams Companies, Inc. announced that they will report Q3, 2023 results After-Market on Nov 01, 2023 Buying Opportunity • Sep 29
Now 20% undervalued Over the last 90 days, the stock is up 6.8%. The fair value is estimated to be €40.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 4.5% per annum. Earnings is forecast to decline by 1.2% per annum over the same time period. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.45 per share at 5.2% yield Eligible shareholders must have bought the stock before 08 September 2023. Payment date: 25 September 2023. Payout ratio and cash payout ratio are on the higher end at 78% and 77% respectively. Trailing yield: 5.2%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.3%). Buying Opportunity • Aug 23
Now 20% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be €39.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 4.4% per annum. Earnings is forecast to decline by 1.2% per annum over the same time period. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risk High level of debt (168% net debt to equity). New Risk • Aug 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risk High level of debt (168% net debt to equity). Reported Earnings • Aug 04
Second quarter 2023 earnings released: EPS: US$0.45 (vs US$0.33 in 2Q 2022) Second quarter 2023 results: EPS: US$0.45 (up from US$0.33 in 2Q 2022). Revenue: US$2.37b (down 16% from 2Q 2022). Net income: US$547.0m (up 37% from 2Q 2022). Profit margin: 23% (up from 14% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Jul 26
Williams Announces Quarterly Cash Dividend, Payable on September 25, 2023 The Williams Companies, Inc.’ board of directors has approved a regular dividend of $0.4475 per share, or $1.79 annualized, on the company’s common stock payable on September 25, 2023, to holders of record at the close of business on September 11, 2023. Announcement • Jul 14
The Williams Companies, Inc. to Report Q2, 2023 Results on Aug 02, 2023 The Williams Companies, Inc. announced that they will report Q2, 2023 results After-Market on Aug 02, 2023 Upcoming Dividend • Jun 03
Upcoming dividend of US$0.45 per share at 5.9% yield Eligible shareholders must have bought the stock before 09 June 2023. Payment date: 26 June 2023. Payout ratio and cash payout ratio are on the higher end at 81% and 75% respectively. Trailing yield: 5.9%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.6%). Reported Earnings • May 04
First quarter 2023 earnings released: EPS: US$0.76 (vs US$0.31 in 1Q 2022) First quarter 2023 results: EPS: US$0.76 (up from US$0.31 in 1Q 2022). Revenue: US$3.08b (up 22% from 1Q 2022). Net income: US$926.0m (up 144% from 1Q 2022). Profit margin: 30% (up from 15% in 1Q 2022). Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 16
Independent Chairman of the Board recently bought €187k worth of stock On the 14th of March, Stephen Bergstrom bought around 7k shares on-market at roughly €27.06 per share. This transaction amounted to 5.9% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Stephen's only on-market trade for the last 12 months. Upcoming Dividend • Mar 03
Upcoming dividend of US$0.45 per share at 5.9% yield Eligible shareholders must have bought the stock before 10 March 2023. Payment date: 27 March 2023. The company is paying out more than 100% of its profits and is paying out 79% of its cash flow. Trailing yield: 5.9%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.5%). Board Change • Mar 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Carri Lockhart was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: US$1.68 (vs US$1.25 in FY 2021) Full year 2022 results: EPS: US$1.68 (up from US$1.25 in FY 2021). Revenue: US$11.4b (up 5.4% from FY 2021). Net income: US$2.05b (up 35% from FY 2021). Profit margin: 18% (up from 14% in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 7.2% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Board Change • Feb 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Carri Lockhart was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 14
Williams Appoints Carri Lockhart as an Independent Director on the Board, Effective Feb. 10, 2023 Williams announced that its Board of Directors has appointed Carri Lockhart as an independent director on the Board, effective Feb. 10, 2023. Ms. Lockhart brings nearly 30 years of experience in the oil and gas industry both in the United States and overseas, most recently serving as Chief Technology Officer and Executive Vice President of Technology, Digital and Innovation at Equinor in Oslo, Norway before retiring in 2022. A petroleum engineer by training, Lockhart has strong executive-level strategic planning and execution experience in the areas of hydrocarbon production, technology and cybersecurity, and alternative energy development. At Williams, Lockhart will serve as a member of the Board’s Compensation and Management Development Committee and the Environmental, Health and Safety Committee. With the appointment of Ms. Lockhart, the Williams Board of Directors consists of 12 members, 11 of whom are independent. Lockhart fills the vacancy on the Board created by the resignation of board member Nancy Buese, who recently accepted the role of chief financial officer at Baker Hughes and resigned from the Board due to material schedule conflicts with Williams board meetings. Announcement • Feb 01
the Williams Companies, Inc. Announces Quarterly Cash Dividend, Payable on March 27, 2023 The board of directors of The Williams Companies, Inc. approved a regular dividend of $0.4475 per share, or $1.79 annualized, on the company’s common stock, payable on March 27, 2023, to holders of record at the close of business on March 13, 2023. Announcement • Jan 31
The Williams Companies, Inc. to Report Q4, 2022 Results on Feb 20, 2023 The Williams Companies, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 20, 2023 Announcement • Jan 13
Williams Announces the Promotion of Chad Zamarin to Executive Vice President of Corporate Strategic Development Williams announced the promotion of Chad Zamarin to Executive Vice President of Corporate Strategic Development, effective immediately. In his expanded role, Zamarin will assume responsibility for the company’s commodity marketing efforts, in addition to his current responsibilities that include corporate strategy, business development, project analysis, upstream joint ventures, new energy ventures, communications and corporate social responsibility. Prior to joining Williams, Zamarin served as Senior Vice President and President, Pipeline and Midstream at Cheniere Energy, Inc. He also served in various executive roles at NiSource/Columbia Pipeline Group, including Chief Operating Officer at NiSource Midstream, LLC and NiSource Energy Ventures, LLC, as well as President of Pennant Midstream, LLC. Zamarin currently serves as Chairman of the Board of Directors of the Interstate Natural Gas Association of America and is a member of the Department of Transportation’s Gas Pipeline Advisory Committee. Upcoming Dividend • Dec 01
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 08 December 2022. Payment date: 26 December 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.9%. Within top quartile of German dividend payers (4.9%). Higher than average of industry peers (1.0%). Recent Insider Transactions • Nov 25
Senior VP & General Counsel recently sold €283k worth of stock On the 22nd of November, Terence Wilson sold around 9k shares on-market at roughly €33.28 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €658k. Insiders have been net sellers, collectively disposing of €2.2m more than they bought in the last 12 months. Recent Insider Transactions • Nov 16
Senior VP & General Counsel recently sold €658k worth of stock On the 14th of November, Terence Wilson sold around 20k shares on-market at roughly €32.92 per share. This transaction amounted to 9.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.9m more than they bought in the last 12 months. Reported Earnings • Nov 01
Third quarter 2022 earnings released: EPS: US$0.49 (vs US$0.14 in 3Q 2021) Third quarter 2022 results: EPS: US$0.49 (up from US$0.14 in 3Q 2021). Net income: US$599.0m (up 265% from 3Q 2021). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.6% decline forecast for the Oil and Gas industry in Germany. Announcement • Oct 26
The Williams Companies, Inc. Announces Quarterly Cash Dividend, Payable on December 26, 2022 The Williams Companies, Inc. announced its board of directors has approved a regular dividend of $0.425 per share, or $1.70 annualized, on the company’s common stock, payable on Dec. 26, 2022, to holders of record at the close of business on Dec. 9, 2022. Announcement • Oct 12
The Williams Companies, Inc. to Report Q3, 2022 Results on Oct 31, 2022 The Williams Companies, Inc. announced that they will report Q3, 2022 results After-Market on Oct 31, 2022 Announcement • Sep 30
The Williams Companies, Inc. Reaffirms Earnings Guidance for the Year 2022 The Williams Companies, Inc. reaffirmed earnings guidance for the year 2022. For the year, the company's net income expected to be in the range of $1,754 million $1,954 million. Buying Opportunity • Sep 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.2%. The fair value is estimated to be €40.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 70%. For the next 3 years, revenue is forecast to grow by 0.7% per annum. Earnings is also forecast to grow by 8.3% per annum over the same time period. Upcoming Dividend • Sep 01
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 26 September 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.0%. Within top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.1%). Reported Earnings • Aug 02
Second quarter 2022 earnings released: EPS: US$0.33 (vs US$0.25 in 2Q 2021) Second quarter 2022 results: EPS: US$0.33 (up from US$0.25 in 2Q 2021). Revenue: US$2.49b (up 6.7% from 2Q 2021). Net income: US$400.0m (up 32% from 2Q 2021). Profit margin: 16% (up from 13% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 43% growth forecast for the industry in Germany. Announcement • Jul 27
Williams Announces Quarterly Cash Dividend, Payable on Sept. 26, 2022 Williams’ board of directors has approved a regular dividend of $0.425 per share, or $1.70 annualized, on the company’s common stock, payable on Sept. 26, 2022, to holders of record at the close of business on Sept. 9, 2022. This is a 3.7% increase from Williams’ third-quarter 2021 quarterly dividend of $0.41 per share, paid in September 2021. Announcement • Jul 13
The Williams Companies, Inc. to Report Q2, 2022 Results on Aug 01, 2022 The Williams Companies, Inc. announced that they will report Q2, 2022 results After-Market on Aug 01, 2022 Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorated over the past week After last week's 15% share price decline to €27.92, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 5x in the Oil and Gas industry in Europe. Total returns to shareholders of 32% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €31.78 per share. Recent Insider Transactions • Jun 10
Insider recently sold €1.3m worth of stock On the 8th of June, Debbie Cowan sold around 36k shares on-market at roughly €35.16 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Jun 02
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 09 June 2022. Payment date: 27 June 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.5%. Within top quartile of German dividend payers (4.2%). Higher than average of industry peers (1.2%). Announcement • May 05
The Williams Companies, Inc. Raises Dividend Guidance in 2022 The Williams Companies, Inc. announced Dividend guidance increased 3.7% on an annualized basis to $1.70 in 2022 from $1.64 in 2021. Reported Earnings • May 04
First quarter 2022 earnings released: EPS: US$0.31 (vs US$0.35 in 1Q 2021) First quarter 2022 results: EPS: US$0.31 (down from US$0.35 in 1Q 2021). Revenue: US$2.72b (up 2.6% from 1Q 2021). Net income: US$379.0m (down 11% from 1Q 2021). Profit margin: 14% (down from 16% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 9.4% compared to a 44% growth forecast for the industry in Germany. Announcement • Apr 27
the Williams Companies, Inc. Announces Quarterly Cash Dividend, Payable on June 27, 2022 The Williams Companies, Inc. announced that board of directors has approved a regular dividend of $0.425 per share, or $1.70 annualized, on the company’s common stock, payable on June 27, 2022, to holders of record at the close of business on June 10, 2022. Announcement • Apr 12
The Williams Companies, Inc. to Report Q1, 2022 Results on May 02, 2022 The Williams Companies, Inc. announced that they will report Q1, 2022 results After-Market on May 02, 2022 Upcoming Dividend • Mar 03
Upcoming dividend of US$0.42 per share Eligible shareholders must have bought the stock before 10 March 2022. Payment date: 28 March 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.2%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (4.5%). Reported Earnings • Feb 22
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$1.25 (up from US$0.17 in FY 2020). Revenue: US$10.6b (up 38% from FY 2020). Net income: US$1.51b (up US$1.31b from FY 2020). Profit margin: 14% (up from 2.7% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.6%. Over the next year, revenue is expected to shrink by 9.5% compared to a 76% growth forecast for the oil industry in Germany. Buying Opportunity • Feb 08
Now 21% undervalued Over the last 90 days, the stock is up 8.8%. The fair value is estimated to be US$33.47, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has been flat over the last 3 years. Announcement • Feb 04
Williams Announces Board Appointments Williams announced that its Board of Directors has appointed Richard E. Muncrief and Jesse J. Tyson as independent directors on the Board, effective March 1, 2022. Mr. Muncrief brings more than 40 years of experience in energy, primarily from the upstream sector. He is currently president and chief executive officer of Devon Energy, having previously served as chief executive officer and chairman of the board of WPX Energy before its merger with Devon in 2021. Mr. Tyson built a 35-year global career with ExxonMobil that included leadership roles in marketing, logistics, safety and operations. After retiring from ExxonMobil, he became president and chief executive officer of the National Black MBA Association from 2012 to 2018. At Williams, Mr. Tyson will serve as a member of the Audit Committee and the Sustainability Committee. Announcement • Feb 03
The Williams Companies, Inc. to Report Q4, 2021 Results on Feb 21, 2022 The Williams Companies, Inc. announced that they will report Q4, 2021 results After-Market on Feb 21, 2022 Announcement • Feb 02
Williams Approves Regular Quarterly Cash Dividend, Payable on March 28, 2022 Williams announced that its board of directors has approved a regular dividend of $0.425 per share, or $1.70 annualized, on the company’s common stock, payable on March 28, 2022, to holders of record at the close of business on March 11, 2022. Upcoming Dividend • Dec 02
Upcoming dividend of US$0.41 per share Eligible shareholders must have bought the stock before 09 December 2021. Payment date: 27 December 2021. Trailing yield: 6.2%. Within top quartile of German dividend payers (3.3%). Higher than average of industry peers (4.2%). Reported Earnings • Nov 02
Third quarter 2021 earnings released: EPS US$0.14 (vs US$0.25 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: US$2.48b (up 28% from 3Q 2020). Net income: US$164.0m (down 47% from 3Q 2020). Profit margin: 6.6% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Announcement • Sep 09
The Williams Companies, Inc. (NYSE:WMB) announces an Equity Buyback for $1,500 million worth of its shares. The Williams Companies, Inc. (NYSE:WMB) announces a share repurchase program. Under the program, the company will repurchase up to $1,500 million worth of its shares. Upcoming Dividend • Sep 02
Upcoming dividend of US$0.41 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 27 September 2021. Trailing yield: 6.7%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (4.3%). Reported Earnings • Aug 03
Second quarter 2021 earnings released: EPS US$0.25 (vs US$0.25 in 2Q 2020) The company reported a mediocre second quarter result with weaker profit margins, although earnings were flat and revenues improved. Second quarter 2021 results: Revenue: US$2.28b (up 28% from 2Q 2020). Net income: US$304.0m (flat on 2Q 2020). Profit margin: 13% (down from 17% in 2Q 2020). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jun 04
Upcoming dividend of US$0.41 per share Eligible shareholders must have bought the stock before 10 June 2021. Payment date: 28 June 2021. Trailing yield: 6.0%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (3.8%). Reported Earnings • May 05
First quarter 2021 earnings released: EPS US$0.35 (vs US$0.43 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: US$2.61b (up 37% from 1Q 2020). Net income: US$425.0m (up US$943.0m from 1Q 2020). Profit margin: 16% (up from net loss in 1Q 2020). The move to profitability was primarily driven by higher revenue. Announcement • Apr 28
Williams Announces Quarterly Cash Dividend, Payable on June 28, 2021 Williams’ board of directors has approved a regular dividend of $0.41 per share, or $1.64 annualized, on the company’s common stock, payable on June 28, 2021, to holders of record at the close of business on June 11, 2021. Announcement • Mar 19
The Williams Companies, Inc., Annual General Meeting, Apr 27, 2021 The Williams Companies, Inc., Annual General Meeting, Apr 27, 2021, at 14:00 Central Daylight. Agenda: To consider and elect the 13 director nominees identified in the proxy statement; to consider and approve on an advisory basis, the company’s executive compensation; to consider ratify the appointment of Ernst & Young LLP as the Company’s independent auditors for the fiscal year ending December 31, 2021; and to transact such other business as may properly come before the annual meeting or any adjournment or postponement thereof. Reported Earnings • Feb 23
Full year 2020 earnings released: EPS US$0.17 (vs US$0.71 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$7.72b (down 5.9% from FY 2019). Net income: US$208.0m (down 76% from FY 2019). Profit margin: 2.7% (down from 11% in FY 2019). Analyst Estimate Surprise Post Earnings • Feb 23
Revenue beats expectations Revenue exceeded analyst estimates by 2.7%. Over the next year, revenue is forecast to grow 1.7%, compared to a 29% growth forecast for the Oil and Gas industry in Germany. Is New 90 Day High Low • Feb 11
New 90-day high: €18.80 The company is up 12% from its price of €16.80 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Oil and Gas industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €14.85 per share. Announcement • Feb 02
The Williams Companies, Inc. to Report Q4, 2020 Results on Feb 22, 2021 The Williams Companies, Inc. announced that they will report Q4, 2020 results After-Market on Feb 22, 2021 Is New 90 Day High Low • Jan 18
New 90-day high: €18.70 The company is up 11% from its price of €16.80 on 20 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Oil and Gas industry, which is up 34% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.68 per share. Announcement • Jan 08
Williams Appoints Stacey Doré to Board of Directors Williams announced that its Board of Directors has appointed Stacey Doré as an independent director on the Board, effective January 6, 2021. Ms. Doré brings 23 years of experience in energy and law. She currently serves as chief executive officer of Sharyland Utilities, L.L.C. At Williams, Doré will serve as a member of the Board’s Governance and Sustainability Committee and the Audit Committee. Is New 90 Day High Low • Dec 11
New 90-day high: €18.60 The company is up 8.0% from its price of €17.30 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Oil and Gas industry, which is up 41% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.49 per share. Announcement • Dec 10
Williams Appoints Rose Robeson to Board of Directors, Effective December 10, 2020 Williams announced that its Board of Directors has appointed Rose Robeson as an independent director on the Board, effective December 10, 2020. At Williams, Robeson will serve as a member of the Board’s Compensation and Management Development Committee and the Environmental, Health and Safety Committee. Ms. Robeson brings 32 years of experience in the energy industry, most recently as chief financial officer of DCP Midstream. An SEC Audit Committee Financial Expert, she currently serves on the boards of three other publicly traded energy companies where she chairs two audit committees and serves on a third. In addition, she serves on an environmental, social and governance committee as well as other board committees. Announcement • Nov 25
The Williams Companies, Inc. (NYSE:WMB) entered into an agreement to acquire Some of South Mansfield Producing Assets of Chesapeake Energy Corporation. The Williams Companies, Inc. (NYSE:WMB) entered into an agreement to acquire Some of South Mansfield Producing Assets of Chesapeake Energy Corporation on November 23, 2020. 
