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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
05/28/201521:13:02Here's What the Managers of the $8.6 Billion TIAA-CREF Trust...
05/27/201506:04:02High-Yield Stocks: 4 Important Facts That Will Effect Williams...
05/27/201506:04:02High-Yield Stocks: 4 Important Facts That Will Effect Williams...
05/22/201507:03:02Williams Companies' $13.8 Billion Kinder Style Merger: 3 Things...
05/19/201515:42:00Williams Partners LP Stockholders Encouraged to Contact Securities...
05/18/201509:11:00Law Offices of Marc S. Henzel Announces Securities Class Action...
05/18/201507:51:27Current Report Filing (8-k)
05/16/201516:00:033 Safe Investments in Natural Gas
05/16/201511:00:20Here's Why These 3 Energy Stocks Moved 20% This Week
05/15/201516:44:48Additional Proxy Soliciting Materials (definitive) (defa14a)
05/15/201510:36:24Perpetual Petroleum: How Buyouts Can Be the Way Out
05/15/201508:00:00Williams Rockaway Delivery Lateral and Northeast Connector Pipeline...
05/14/201513:37:00SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders...
05/14/201512:20:00WILLIAMS PARTNERS L.P. SHAREHOLDER ALERT: Former SEC Attorney...
05/13/201517:26:15Filing of Certain Prospectuses and Communications in Connection...
05/13/201517:22:24Filing of Certain Prospectuses and Communications in Connection...
05/13/201516:41:05MARKET SNAPSHOT: U.S. Stocks End Flat After Retail Sales Disappoint
05/13/201516:13:00Harwood Feffer LLP Announces Investigation of Williams Partners...
05/13/201515:25:00Robbins Arroyo LLP: Acquisition of Williams Partners L.P. (WPZ...
05/13/201515:24:00WILLIAMS PARTNERS L.P. SHAREHOLDER ALERT: Rigrodsky & Long, P.A...

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