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Williams 1Q Profit Rises 32%; Williams Partners 1Q Earnings Up 13%

DOW JONES NEWSWIRES Williams Cos.'s (WMB) first-quarter earnings rose 32%, mostly on gains related to the sale of former assets in Venezuela, while midstream and interstate gas-pipeline asset-holder Williams Partners LP's (WPZ) first-quarter profit increased 13%. However, Williams Partners common units were down 2.8% at $54.84 in after-hours trading as earnings missed expectations. Williams shares were down 2 cents to $32.94 in after-hours trading. Pipeline companies in the U.S. are undergoing a wave of acquisitions and expansion as they seek to adapt to the new geography of energy production brought about by shale production. Williams Partners last month unveiled a $2.5 billion deal to acquire Caiman Eastern Midstream LLC, which has midstream facilities in the Marcellus Shale, a major unconventional shale-energy field that underlies several Northeastern states. Williams reported a profit of $423 million, or 70 cents a share, up from $321 million, or 54 cents a share, a year earlier. Excluding the asset-sale gains and other items, earnings from continuing operations were up at 39 cents from 28 cents. Revenue increased 6.7% to $1.69 billion. Analysts polled by Thomson Reuters most recently projected earnings of 36 cents on revenue of $1.95 billion. Williams Partners reported a profit of $348 million, or 85 cents a unit, up from $307 million, or 81 cents a unit, a year earlier. Analysts expected earnings of 90 cents. The company said the growth was mostly due to improved fee-based revenue at its midstream and gas pipeline businesses as well as stronger natural-gas liquids margins. Williams last year opted against an initial public offering of its exploration and production business, instead opting for a spinoff of a public company, named WPX Energy Inc. (WPX), which was completed early this year. WPX plans to report its first-quarter financial results May 3. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Williams Partners (WPZ)
DateTimeHeadline
07/30/201409:22:06William Partners Plans $150 Million Project in New Jersey
04/23/201419:36:51Opal, Wyo. Evacuated After Blast at Gas-Pipeline Hub -- Update
02/26/201417:10:34Williams Cos. to Sell Canadian Assets for $1.2 Billion
02/19/201418:25:52Williams Swings to Loss; Williams Partners Profit Falls 27%
11/15/201309:18:03OZ Management LP 3Q 13F: Largest Purchases -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Largest Purchases
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30
10/31/201306:45:45U.S. Hot Stocks Futures: Hot Stocks to Watch
10/30/201317:45:10Williams 3rd-Quarter Profit Down 7.1%; Williams Partners Earnings...
08/02/201309:21:17U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
07/31/201317:06:16Williams 2nd-Quarter Profit Up 7.6%; Williams Partners Up 5.3%
06/13/201314:00:15CORRECT: PRESS RELEASE: Explosion at Williams' Geismar Plant
05/07/201317:21:04Williams Cos 1st-Quarter Net Falls 62% on Weaker NGL Margins
04/11/201318:24:08Williams Partners Unveils Gas-Gathering Joint-Venture With Shell
03/05/201310:21:59Williams Partners' Increased Offering Priced at 2.8% Discount
03/05/201309:29:17U.S. Stock Futures Rally; Dow Set To Open Above Record High
03/04/201319:44:17Five Companies Disclose Secondary Offerings
02/20/201317:00:30Williams Cos Swings to Fourth-Quarter Profit; Williams Partners...
01/08/201309:22:14U.S. HOT STOCKS FUTURES: HOT STOCKS TO WATCH

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