The stock of The Williams Companies, Inc. (NYSE:WMB) is now priced at $20.96 and the shares are 0.2 points up or 0.96% higher compared to its previous closing price of $20.76. WMB shares have a float of 1210 million and although its performance was -2.01% over the week, it’s one to watch. Analysts have given the WMB stock a yearly average price target of $22.74 per share. It means the stock’s upside potential is 8.49% with the WMB share price recently placing at $20.44 to $21.05. However, some brokerage firms have priced the stock below the average, including one that has called $21.
The shorts are running away from the The Williams Companies, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the WMB shares have declined. Short interest in the stock represents just 1.54% of its float, but the volume has dropped by 0.
In the last trading session, The Williams Companies, Inc. (NYSE:WMB) dropped by -$0.43 over the week and lost -$0.38 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $25.29. The stock recorded its established 52-week high on 09/16/19.
Since 03/19/20, the stock has traded to a low of $8.41 at 149.23%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.84. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Williams Companies, Inc.’s two-week RSI is 50.85. This suggests that the stock is neutral at the moment and that WMB shares’ price movement remains stable. The stochastic readings are equally revealing at 15.83% meaning the WMB share price is currently in overbought territory.
The technical chart shows that the WMB stock will likely settle at between $21.19 and $21.43 per share. However, if the stock dips below $20.58, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $20.21.
Currently, the stock is trading in the red of MACD, with a reading of -0.26. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Morgan Stanley raised their recommendation for WMB from Equal-Weight to Overweight in July 15 review. Credit Suisse analysts downgraded their recommendation of the stock from Outperform to Neutral while keeping its target price at $20 in a flash note released to investors on May 12. Wells Fargo seeing the improvements upgraded the stock from Equal Weight to Overweight on April 27, placing it at $19 to $21.
The average rating for the WMB equity is 1.84 and is currently gathering a bullish momentum. Of 24 analysts tracking The Williams Companies, Inc. polled by Reuters, 4 rated WMB as a hold. The remaining 20 analysts were split evenly. However, the split wasn’t equal as a majority (20) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the WMB stock price is 18.45X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 190.5 above the group’s average of 40.1. The Williams Companies, Inc. has its P/E ratio at 2.1, which means that the stock is currently trading at a premium relative to the 1.4 industry average.