Stifel analyst downgrades Williams to hold on expected negative financial impact from explosion at its Geismar, Louisiana, olefins plant
June 14, 2013
(Benzinga Lightning Feed)
– Stifel analyst Selman Akyol downgraded Williams Partners (NYSE: WPZ) to Hold on the heels of an expected negative financial impact from Geismar olefins plant explosion on Thursday.
Akyol said the explosion will significantly affect Williams Partners in the short term given strong ethylene margins. Nevertheless, the company expects greater benefits from growing fee-based business model in Marcellus Shale over the long term.
Shares of Williams have just opened down 1.4 percent to $47.79.