Williams Companies (WMB)
NYSEEnergyOil & Gas MidstreamSnapshot 2026-09-04
$74.15+0.14%
Close 2026-09-04 · 1-day change
NYSEEnergyOil & Gas MidstreamSnapshot 2026-09-04
QuarterlyIQ Insights · WMB
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How this business ranks within energy on a research-validated quality screen. As of 2026-09-04.
The screen ranks WMB against its sector on four durable signals: share dilution, return on capital, free-cash-flow yield, and FCF margin. Historically the highest-quality names tended toward better typical outcomes and fewer bad years over multi-year holds (strongest at three years, modest at one), and that pattern showed up even before the price moved. It characterizes business quality, not price direction.
Each leg is a sector-relative percentile (higher is better); 4 of 4 legs were available for this name. The composite is built from these four; the raw value follows each percentile for context.
A forward quality tilt, not a price prediction, and context for your own research rather than a recommendation. Not investment advice.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Energy names rated neutral grew net income 57% of the time over the next year (vs 56% for the rest of the cohort, n=2314).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue executing and commercializing pipeline transmission expansions to meet growing natural gas demand across key regions.
Stated as a priority in 7 of last 7 quarters. Management consistently reported placing multiple pipeline transmission projects into service and advancing others, including Transco's Southeast Supply Enhancement (~1.6 Bcf/d) and a total of 7.1 Bcf/d of projects in execution as of 2025-Q4. This aligns with revenue growth in transmission segments and increased Adjusted EBITDA, demonstrating delivering progress on expanding pipeline capacity.
“Signed customer agreements for Transco's Leidy Access and Garden Connector expansions and upsized Power Express”
“Placed in service Northwest Pipeline's Naughton Coal Conversion and started construction on Transco's Northeast and Southeast Supply Enhancement projects”
“Completed 12 projects in 2025: 6 pipeline transmission, 2 gathering and 4 Deepwater”
“Placed in service Transco's Alabama Georgia Connector and Commonwealth Energy Connector expansion projects”
“Placed Transco's Texas to Louisiana Energy Pathway and Southeast Energy Connector expansion projects into service”
“Broke ground on Transco's Northeast Supply Enhancement and Southeast Supply Enhancement projects”
“Placed Transco's Regional Energy Access into full service ahead of schedule”
Accelerate investment and execution in Power Innovation projects to meet growing power demand and data center needs.
Stated as a priority in 5 of last 7 quarters. Management has consistently reported advancing Power Innovation projects including Socrates and new projects, supported by a $5.34 billion joint venture capital infusion. This is reflected in project completions and capital investments reported, indicating delivering progress in expanding power innovation investments.
Sustain and increase dividends annually to provide shareholder returns aligned with earnings growth.
Stated as a priority in 6 of last 7 quarters. Management has consistently increased dividends, with a 5% increase to $2.10 annualized for 2026 from $2.00 in 2025. Dividend coverage ratios remain above 2x AFFO, supporting sustainable dividend growth. This demonstrates delivering on the commitment to maintain and grow dividends.
“Dividend coverage ratio: 2.26x (AFFO basis); dividend increased by 5% to $2.10 annualized for 2026”
Manage growth and maintenance capital expenditures within guided ranges to support strategic growth and financial discipline.
Stated as a priority in 6 of last 7 quarters. Management has maintained disciplined capital expenditure guidance, with 2026 growth capex between $7.3 billion and $7.9 billion and maintenance capex between $850 million and $950 million. Actual capital investments reported align with these ranges, indicating delivering on capital discipline.
“2026 growth capex between $7.3 billion and $7.9 billion; maintenance capex between $850 million and $950 million”
Pursue acquisitions and divestitures to enhance asset footprint and focus on high-return growth opportunities.
Stated as a priority in 5 of last 7 quarters. Management has actively pursued strategic acquisitions such as Momentum Midstream ($5.5 billion), Rimrock, and Saber Midstream, while divesting non-core assets. These transactions have expanded the company's footprint and supported growth, reflecting delivering progress on portfolio optimization.
“Announced acquisition of Momentum Midstream, a strategic Haynesville growth transaction valued at up to $5.5 billion”
Over the trailing year it converted 1.83x of net income into operating cash flow. Historically, Energy names rated neutral grew net income 40% of the time over the next year (vs 46% for the rest of the cohort, n=1319).
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, Fed net liquidity, long-term interest rates, real (inflation-adjusted) rates (low R² over the window).
18 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Energy names rated volatile grew net income 53% of the time over the next year (vs 58% for the rest of the cohort, n=640).
Not investment advice. As of 2026-09-04.
“Successful completion of phase one of Socrates, the company's first Power Innovation project; phase two on track for 4Q 2026 completion”
“Commissioned Aristotle pipeline for Plato South power innovation facility”
“Expanded scope of Socrates by ~$400 million to $2 billion and announced two additional Power Innovation projects”
“Broke ground on Socrates, a $1.6 billion Power Innovation project to serve growing AI demand”
“Power Innovation group delivering speed-to-market solutions for growing data center demand”
“Dividend coverage ratio: 2.76x (AFFO basis); dividend per share $0.525”
“Ended year with 2.40x dividend coverage ratio (AFFO basis); raised dividend by 5% to $2.10 annualized for 2026”
“Dividend coverage ratio: 2.37x (AFFO basis); dividend per share $0.5”
“Dividend coverage ratio: 2.16x (AFFO basis); increased dividend by 5.3% to $2.00 in 2025”
“Dividend per share $0.5; reaffirmed dividend growth commitment”
“2026 growth capex between $7 billion and $7.6 billion; maintenance capex between $850 million and $950 million”
“2025 growth capex increased by $500 million to between $3.95 billion and $4.25 billion; maintenance capex between $650 million and $750 million”
“2025 growth capex between $2.575 billion and $2.875 billion; maintenance capex between $650 million and $750 million”
“2025 growth capex between $2.575 billion and $2.875 billion; maintenance capex between $650 million and $750 million”
“Capital investments include growth and maintenance capital within guided ranges”
“Closed on acquisitions of Rimrock and Saber Midstream”
“Accelerated wellhead to water strategy with Haynesville E&P sale and strategic partnership with Woodside Energy”
“Acquired Saber Midstream, enhancing Haynesville gathering footprint”
“Expanded asset base with acquisitions including Gulf Coast Storage and Discovery JV consolidation”