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

("Williams 1Q Profit Rises 32%; Williams Partners 1Q Earnings Up 13%," published at 4:43 p.m. incorrectly attributed Williams Partners revenue to Williams in the fourth paragraph. The correct version follows.) 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 was up 8% at $2.02 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. Revenue increased 6.7% to $1.69 billion. 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
02/11/201617:37:10Statement of Changes in Beneficial Ownership (4)
02/10/201616:05:00Williams Partners Executes Agreements to Serve Two Gulf Coast...
02/02/201617:09:51Current Report Filing (8-k)
01/29/201617:07:00Constitution Pipeline Receives FERC Authorization to Proceed...
01/25/201616:05:00Williams, Williams Partners Provide Conference Call Information...
01/25/201610:00:00Williams Partners Cuts Investments by $1.2 Billion
01/25/201609:34:00Williams Partners Cuts Planned Investments by $1.2 Billion
01/25/201608:05:00Williams and Williams Partners Announce 2016 Capital and Financing...
01/25/201608:00:00Williams Partners Announces Quarterly Cash Distribution
01/22/201616:18:13Current Report Filing (8-k)
01/19/201617:57:00Transco Prices Private Debt Issuance
01/19/201608:57:00Transco Initiates Private Debt Issuance
12/23/201517:28:58Current Report Filing (8-k)
12/14/201507:00:00ETE and Williams Announce Timing Agreement with Federal Trade...
12/11/201516:15:05Statement of Changes in Beneficial Ownership (4)
12/09/201516:11:20Statement of Changes in Beneficial Ownership (4)
12/09/201514:34:00Current Report Filing (8-k)
12/07/201515:29:59Here's Why MLPs Are Getting Slammed Today
12/02/201512:30:035 Things Chesapeake Energy Corporation’s CEO Wants You to Know
11/23/201511:00:074 Things Williams Companies Inc.’s CEO Wants You to Know

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