Upcoming Dividend • Jun 05
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 12 June 2026. Payment date: 29 June 2026. Payout ratio is on the higher end at 89%, and the cash payout ratio is above 100%. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (4.5%). Declared Dividend • May 21
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 21
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 29
The Williams Companies, Inc. Announces Quarterly Cash Dividend, Payable on June 29, 2026 The Williams Companies, Inc. has approved a regular dividend of $0.525 per share, or $2.10 annualized, on the company’s common stock, payable on June 29, 2026, to holders of record at the close of business on June 12, 2026. This is a 5% increase from Williams’ 2025 quarterly dividend of $0.50 per share. 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 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 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. 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 29
The Williams Companies, Inc. Approves Regular Dividend on Common Stock, Payable on September 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 September 29, 2025, to holders of record at the close of business on September 12, 2025. Announcement • Jul 16
The Williams Companies, Inc. to Report Q2, 2025 Results on Aug 04, 2025 The Williams Companies, Inc. announced that they will report Q2, 2025 results at 4:00 PM, Eastern Standard Time on Aug 04, 2025 Announcement • Apr 29
Williams Announces Quarterly Cash Dividend, Payable on June 30, 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 June 30, 2025, to holders of record at the close of business on June 13, 2025. This is a 5.3% increase from Williams’ 2024 quarterly dividend of $0.4750 per share. Announcement • Apr 25
The Williams Companies, Inc. Announces Appointment of Larry Larsen as Executive Vice President and Chief Operating Officer, Effective May 3, 2025 The Williams Companies, Inc. announced that Larry Larsen has been appointed Executive Vice President and Chief Operating Officer (COO), overseeing all aspects of the company’s transmission, storage and gathering and processing operations, effective May 3, 2025. Larsen will replace Micheal Dunn, who announced his planned retirement from Williams last month. Larsen currently serves as Williams Senior Vice President, Gathering and Processing. Larsen joined Williams in 1999, working within the Northwest Pipeline franchise. He then served as vice president, Central Services, where he led the teams responsible for Williams’ supply chain, commodity services (volume management, systems planning, commodity optimization and commercial contracts), NGL and gas marketing, measurement and pipeline control functions. In 2018, he became vice president-general manager for Williams’ Rocky Mountain Midstream franchise and was responsible for all commercial activities and the safe, reliable operations of the area’s growing assets. In 2020, he became vice president, Strategic Development, where he led Williams’ corporate strategy, market intelligence and corporate development efforts before assuming his current role of senior vice president, Gathering and Processing in 2022, where he leads all onshore G&P, NGL transmission, storage and fractionation businesses. Larsen earned a Bachelor of Science degree in Mechanical Engineering from the University of Utah. Announcement • Apr 15
The Williams Companies, Inc. to Report Q1, 2025 Results on May 05, 2025 The Williams Companies, Inc. announced that they will report Q1, 2025 results After-Market on May 05, 2025 Announcement • Mar 14
Micheal Dunn to Retire as Executive Vice President and Chief Operating Officer of The Williams Companies, Inc Williams announced that Micheal Dunn, executive vice president and chief operating officer, will retire, effective May 2, 2025. Under Micheal’s leadership, Williams successfully completed several large-scale infrastructure projects, including Atlantic Sunrise and Regional Energy Access, as well as multiple expansion projects along Transco, Northwest Pipeline and in the Deepwater Gulf, in addition to integrating multiple acquisitions. He has placed strong focus on achieving regulatory compliance and optimizing operations to enhance Williams’ competitive advantage and advance the execution of Williams' natural gas-focused strategy. Dunn began his career with Williams in 1988 and spent 14 years with the company in its gas pipeline business before transitioning to leadership roles at Kern River and PacificCorp Energy. Prior to rejoining Williams in 2017, Dunn served as President of Questar Pipeline and Executive Vice President of Questar Corporation. Announcement • Jan 24
The Williams Companies, Inc. to Report Q4, 2024 Results on Feb 12, 2025 The Williams Companies, Inc. announced that they will report Q4, 2024 results After-Market on Feb 12, 2025 Declared Dividend • Nov 11
Third quarter dividend of US$0.47 announced Shareholders will receive a dividend of US$0.47. Ex-date: 13th December 2024 Payment date: 30th December 2024 Dividend yield will be 3.4%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (79% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 2.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 16% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: US$0.58 (vs US$0.54 in 3Q 2023) Third quarter 2024 results: EPS: US$0.58 (up from US$0.54 in 3Q 2023). Revenue: US$2.65b (up 4.7% from 3Q 2023). Net income: US$706.0m (up 8.0% from 3Q 2023). Profit margin: 27% (in line with 3Q 2023). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 29% per year. Announcement • Nov 05
Williams Announces Quarterly Cash Dividend, Payable on December 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 December 30, 2024, to holders of record at the close of business on December 13, 2024. Announcement • Oct 18
The Williams Companies, Inc. to Report Q3, 2024 Results on Nov 06, 2024 The Williams Companies, Inc. announced that they will report Q3, 2024 results After-Market on Nov 06, 2024 Upcoming Dividend • Sep 06
Upcoming dividend of US$0.47 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 30 September 2024. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.6%). Buy Or Sell Opportunity • Aug 29
Now 21% undervalued Over the last 90 days, the stock has risen 6.3% to €40.10. The fair value is estimated to be €50.57, 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 grown by 35%. For the next 3 years, revenue is forecast to grow by 7.3% per annum. Earnings are also forecast to grow by 5.5% per annum over the same time period. Buy Or Sell Opportunity • Aug 12
Now 21% undervalued Over the last 90 days, the stock has risen 7.8% to €39.44. The fair value is estimated to be €49.70, 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 grown by 35%. For the next 3 years, revenue is forecast to grow by 7.7% per annum. Earnings are also forecast to grow by 5.6% per annum over the same time period. Reported Earnings • Aug 06
Second quarter 2024 earnings released: EPS: US$0.33 (vs US$0.45 in 2Q 2023) Second quarter 2024 results: EPS: US$0.33 (down from US$0.45 in 2Q 2023). Revenue: US$2.34b (down 1.4% from 2Q 2023). Net income: US$401.0m (down 27% from 2Q 2023). Profit margin: 17% (down from 23% in 2Q 2023). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 40% growth forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 05
First quarter dividend of US$0.47 announced Shareholders will receive a dividend of US$0.47. Ex-date: 13th September 2024 Payment date: 30th September 2024 Dividend yield will be 4.5%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (74% earnings payout ratio) and cash flows (75% cash payout ratio). The dividend has increased by an average of 2.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 7.0% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 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 Upcoming Dividend • May 31
Upcoming dividend of US$0.47 per share Eligible shareholders must have bought the stock before 07 June 2024. Payment date: 24 June 2024. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 4.7%. Within top quartile of German dividend payers (4.6%). Higher than average of industry peers (3.0%). Recent Insider Transactions • May 12
Insider recently sold €1.4m worth of stock On the 9th of May, Debbie Pickle sold around 38k shares on-market at roughly €36.76 per share. This transaction amounted to 39% 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 €3.6m more than they bought in the last 12 months. Reported Earnings • May 07
First quarter 2024 earnings released: EPS: US$0.52 (vs US$0.76 in 1Q 2023) First quarter 2024 results: EPS: US$0.52 (down from US$0.76 in 1Q 2023). Revenue: US$2.77b (up 7.6% from 1Q 2023). Net income: US$631.0m (down 32% from 1Q 2023). Profit margin: 23% (down from 36% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Declared Dividend • May 06
Fourth quarter dividend of US$0.47 announced Shareholders will receive a dividend of US$0.47. Ex-date: 7th June 2024 Payment date: 24th June 2024 Dividend yield will be 4.9%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 3.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 3.7% over the next 3 years. However, it would need to fall by 26% to increase the payout ratio to a potentially unsustainable range. 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. Upcoming Dividend • Feb 29
Upcoming dividend of US$0.47 per share Eligible shareholders must have bought the stock before 07 March 2024. Payment date: 25 March 2024. Payout ratio is a comfortable 67% and this is well supported by cash flows. Trailing yield: 5.4%. Within top quartile of German dividend payers (5.2%). Higher than average of industry peers (3.4%). New Risk • Feb 16
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.9% 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 3.9% per year for the foreseeable future. Minor Risks High level of debt (163% net debt to equity). Significant insider selling over the past 3 months (€2.0m sold). Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: US$2.69 (vs US$1.68 in FY 2022) Full year 2023 results: EPS: US$2.69 (up from US$1.68 in FY 2022). Revenue: US$9.95b (down 12% from FY 2022). Net income: US$3.27b (up 60% from FY 2022). Profit margin: 33% (up from 18% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 05
Third quarter dividend of US$0.47 announced Shareholders will receive a dividend of US$0.47. Ex-date: 7th March 2024 Payment date: 25th March 2024 Dividend yield will be 5.4%, which is higher than the industry average of 3.1%. Sustainability & Growth Dividend is covered by both earnings (77% earnings payout ratio) and cash flows (87% cash payout ratio). The dividend has increased by an average of 3.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 3.1% over the next 3 years, which should provide support to the dividend and adequate earnings cover. 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. New Risk • Jan 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.03% 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 0.03% per year for the foreseeable future. Minor Risks High level of debt (164% net debt to equity). Significant insider selling over the past 3 months (€2.0m sold). 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 22
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. Buying Opportunity • Nov 14
Now 21% undervalued Over the last 90 days, the stock is up 2.8%. The fair value is estimated to be €40.80, 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 54%. For the next 3 years, revenue is forecast to grow by 6.4% per annum. Earnings is forecast to decline by 1.1% per annum over the same time period. Reported Earnings • Nov 02
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$2.56b (down 15% 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 4.3% 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 25% 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 9.5%. The fair value is estimated to be €41.90, 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 18
Now 21% undervalued Over the last 90 days, the stock is up 15%. The fair value is estimated to be €40.33, 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 29
Now 20% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be €40.19, 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. New Risk • Aug 14
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 03
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$2.48b (down 17% from 2Q 2022). Net income: US$547.0m (up 37% from 2Q 2022). Profit margin: 22% (up from 13% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.4% 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 02
Upcoming dividend of US$0.45 per share at 6.1% 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: 6.1%. 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 15% 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 (1.4%). Recent Insider Transactions • Mar 01
Insider recently sold €560k worth of stock On the 27th of February, Larry Larsen sold around 19k shares on-market at roughly €29.43 per share. This transaction amounted to 24% 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 €2.8m more than they bought in the last 12 months. Board Change • Mar 01
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 21
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$11.0b (up 1.8% from FY 2021). Net income: US$2.05b (up 35% from FY 2021). Profit margin: 19% (up from 14% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 1.5% p.a. on average 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 16% per year, which means it is significantly lagging earnings growth. Board Change • Feb 15
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 02
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). Revenue: US$3.01b (up 4.8% from 3Q 2021). Net income: US$599.0m (up 265% from 3Q 2021). Profit margin: 20% (up from 5.7% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Revenue is expected to fall by 1.1% p.a. on average during the next 3 years compared to a 4.5% decline forecast for the Oil and Gas industry in Germany. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. 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%). Buying Opportunity • Aug 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 6.9%. The fair value is estimated to be €39.39, 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 3.6% per annum. Earnings is also forecast to grow by 8.3% per annum over the same time period. 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. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. 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%). 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. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. 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. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Feb 10
Now 20% undervalued Over the last 90 days, the stock is up 4.9%. The fair value is estimated to be US$33.15, 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. Upcoming Dividend • Dec 03
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. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. 
