Wells Fargo & Company Issues Positive Forecast for WBI (NYSE:WBI) Stock Price

WBI (NYSE:WBI) had its price target raised by Wells Fargo & Company from $26.00 to $28.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also recently weighed in on WBI. Wall Street Zen raised shares of WBI from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. The Goldman Sachs Group increased their target price on shares of WBI from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Weiss Ratings upgraded WBI from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 18th. Morgan Stanley increased their target price on WBI from $38.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Barclays lifted their price target on shares of WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.60.

WBI Trading Up 1.2%

WBI stock opened at $31.64 on Friday. The firm has a market cap of $3.91 billion and a PE ratio of 395.49. WBI has a 12 month low of $18.64 and a 12 month high of $36.89. The stock’s 50 day simple moving average is $32.59 and its two-hundred day simple moving average is $28.65. The company has a current ratio of 1.54, a quick ratio of 1.30 and a debt-to-equity ratio of 0.88.

WBI (NYSE:WBI) last posted its earnings results on Wednesday, August 5th. The company reported $0.10 earnings per share for the quarter. WBI had a net margin of 0.54% and a return on equity of 0.85%. The firm had revenue of $217.77 million during the quarter. Analysts anticipate that WBI will post 0.46 earnings per share for the current year.

WBI Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, August 27th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. WBI’s payout ratio is presently 250.00%.

Insider Buying and Selling at WBI

In other WBI news, Director David N. Capobianco sold 5,894,826 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $30.05, for a total value of $177,139,521.30. Following the transaction, the director directly owned 1,980,921 shares of the company’s stock, valued at $59,526,676.05. This trade represents a 74.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Energy Corp/De Devon sold 1,755,174 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $30.05, for a total value of $52,742,978.70. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,439,652 shares of company stock worth $584,161,543 in the last 90 days. 50.61% of the stock is currently owned by insiders.

WBI Company Profile

WaterBridge Infrastructure LLC is an integrated, pure-play water infrastructure company. WaterBridge Infrastructure LLC is based in HOUSTON.