Opinions
Benj Gallander
Williams Partners LP
WPZ-N
COMMENT
Jan 08, 2014
$49.790
Stock price when the opinion was issued
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COMMENT
This had some big issues at $30 oil. The real fear was counterparty risks on their contracts, whether all their US producers, whether natural gas or oil, went bankrupt. With $50 oil, this is no longer the case. It was a great buy for anybody who picked it up a year ago. They recently sold their Canadian assets to pay down debt, and you can now look at this as more of a pipeline company. The easy money has been made.
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(Caller referred to this as World Page COM but this does not show up. WPZ is actually Williams Partners, a pipeline company.) This has done very, very well. Stock prices near record highs. They make a lot of money and he is amazed that the balance sheet is not in better shape. He likes to see debt paid down when you have a chance to do it. If he owned this one, he would be looking at when to get out because it has had a great run.