Williams Reports Solid 4Q, Sees Modest Tax Impact for Rate Cases
The narrow-moat Williams entities reported solid fourth-quarter results, and we don’t plan on material changes to our $42.50 and $29 fair value estimates for Williams Partners and Williams, respectively. After a busy 2017, which included an IDR elimination and over $3 billion in asset sales, the new Williams Partners reported EBITDA of $1.15 billion, up modestly from the $1.11 billion last year, and a similarly modest increase in full-year EBITDA to $4.45 billion, which is not materially differe...
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