Reading WMB? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track WMB free→Reading WMB? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
Track WMB free→NYSEEnergyOil & Gas MidstreamSnapshot 2026-06-12
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
Recent financial performance is strong, but management's recent track record has been unsteady, with frequent disruptive corporate changes. Earnings quality is mixed, and the sector backdrop is a headwind, indicating challenges in the current environment. Peer multiples imply a price about 228% below where it trades (it looks expensive on this basis); the read is rich, as it trades above peer multiples, and the longer horizon does not make that back through growth. Key factors to watch include guidance changes and sector trends, as these could significantly impact WMB's outlook. This read is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 7 valuation methods, at three horizons. Current price $72.08. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $72 the market pays 32× p/e — above the 18× p/e peer median but in line with its own 27× history. That premium reflects a durable franchise our peer-anchored $22 fair value understates; treat the 'expensive vs peers' read with low confidence. Analysts: $73–$98. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The market is pricing in roughly 234% near-term growth, well above our forecast of about 5%. This describes what's priced in, not a forecast of the move.
Flags: expensive valuation, a turbulent sector regime (Heating).
For similar setups historically (n=2,301): about 43% saw a 20%+ drawdown, and roughly 77% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 2 of the last 3 quarter-over-quarter moves. Historically, Energy names rated strong grew net income 60% of the time over the next year (vs 56% for the rest of the cohort, n=979).
Over the trailing year it converted 2.17x of net income into operating cash flow. Historically, Energy names rated neutral grew net income 33% of the time over the next year (vs 48% for the rest of the cohort, n=789).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, Fed net liquidity, long-term interest rates.
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $0.54 → $0.51 (-4.6% / 30d). 2 raised, 3 cut, 10 covering analysts.
0 upgrades, 0 downgrades / 30d, 2 maintained. 84% of analysts rate Buy.
3 PT revisions / 30d. Avg target 17.4% above current price.
0 positive, 1 negative / 30d. See F4 management tile for the event list.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$94.
How much price usually moves either way.
On a bad day, this stock has moved -$207.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $1,236.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-12
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: Finishing these projects is key to revenue growth. It shows the company can deliver on its plans.
Confirms:Completion of at least 7.1 Bcf/d of pipeline transmission projects by the end of 2026.
Disproves:There are big delays in finishing pipeline projects past 2026.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for WMB yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Entry into a Material Definitive Agreement. Second Amended and Restated Credit Agreement On May 19, 2026 (the “Credit Agreement Effective Date”), The Williams Companies, Inc. (the “Company”), Northwest Pipeline LLC (“Northwest”) and Transcontinental Gas Pipe Line Company, LLC (“Transco” and, together with the Company and Northwest, the “Borrowers”) entered into a Second Amended and Restated Credit Agreement (the “Credit Agreement”) with the lenders named therein and Wells Fargo Bank, National…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
$73.00 – $98.00 (median $84.00) · 15 analysts · as of 2026-05-29
Looks more expensive than peers.
Richer than its own typical valuation.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Oil & Gas Storage & Transportation.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
WMB Williams Companies | Typical Show detailsSector percentile: 39 of 100 | expensive | moderate |
KMI Kinder Morgan | Above typical Show detailsSector percentile: 74 of 100 | full | moderate |
ET ENERGY TRANSFER LP | Above typical Show detailsSector percentile: 78 of 100 | fair | moderate |
TRGP Targa Resources | Typical Show detailsSector percentile: 55 of 100 | expensive | moderate |
OKE Oneok | Typical Show detailsSector percentile: 48 of 100 | fair | moderate |
9 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Energy names rated volatile grew net income 45% of the time over the next year (vs 48% for the rest of the cohort, n=252).
Not investment advice. As of 2026-06-12.
via XLE
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-12.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue expanding pipeline transmission projects to enhance capacity and service.
Invest in power innovation projects to enhance energy solutions and capacity.
Continue to grow dividends annually to provide shareholder returns.
Why it matters: Confirming dividend growth shows financial health and commitment to shareholders. It reflects ongoing cash flow strength.
Confirms:Dividend growth confirmed at 5% or more for 2026.
Disproves:Dividend growth announced at less than 5% for 2026.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information included in
Results of Operations and Financial Condition On May 4, 2026, The Williams Companies, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of the press release and accompanying financial highlights and operating statistics and reconciliation schedules are furnished herewith as Exhibit 99.1 and are incorporated herein in their entirety by reference. The press release and accompanying financial highlights and operating statist…
Director — Alan S. Armstrong: Mr. Armstrong resigned to serve as a United States Senator.
The filing pertains to the amendment and restatement of an incentive plan, not a management change.