The company priced 53 million shares at $57 a share; the offering includes a 30-day option for underwriters to purchase an additional 7.95 million shares. Williams Companies would earn approximately $3 billion from the offering and an additional $450 million if the underwriters purchase the additional shares.
The stock was up 0.8% to $57.77 at 10:49 a.m. More than 12.8 million shares had changed hands, compared to the average volume of 5,105,520.
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Separately, TheStreet Ratings team rates WILLIAMS COS INC as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate WILLIAMS COS INC (WMB) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows: