The Williams Companies, Inc.’s (WMB Quick QuoteWMB ) board recently approved a new share repurchase program worth $1.5 billion, which was implemented with immediate effect. The move underscores the company’s sound financial position and its commitment to reward its shareholders.
Management noted that the announcement throws light on the company’s dedication to enhancing shareholder value. Its strong balance sheet along with excess free cash flow enables it to take advantage of this investment opportunity.
Williams’ solid cash flow generation capacity supports its shareholder-friendly activities. Even during the coronavirus-ravaged 2020, the company generated distributable cash flow of $3.35 billion, indicating a 2% rise from the figure generated in 2019.
The Oklahoma-based premier energy infrastructure provider in North America also has a decent dividend payment history. In 2020, it paid out dividends worth $1.94 billion, up 5.4% year over year. Retaining its pro-shareholder stance, Williams paid out dividends worth $996 million in the first half of 2021.
Top 5 Energy Stocks To Invest In 2023: Martin Midstream Partners L.P.(MMLP)
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The companys Terminalling and Storage segment owns or operates 29 marine shore-based terminal facilities and 18 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products. This segment also offers land rental services to oil and gas companies, as well as storage and handling services for lubricants and fuels. Its Natural Gas Services segment distributes natural gas liquids (NGLs) to propane retailers, refineries, and industrial NGL users. This segment owns a NGL pipeline covering an area of approximately 200 miles from Kilgore, Texas to Beaumont, Texas; and 2.4 million barrels of underground storage capacity for NGLs. It also develops, constructs, operates, and manages natural gas storage facilities in northern Louisiana and Mississippi, as well as owns an approximate 2,300 mile common-carrier pipeline system that transports NGLs from New Mexico and Texas to Mont Belvieu, Texas. The companys Sulfur Services segment manufactures and markets various sulfur-based fertilizer and related sulfur products, including plant nutrient and agricultural ground sulfur products; ammonium sulfate products; industrial sulfur products; and liquid sulfur products. This segment owns 56 railcars and leases 105 railcars to transport molten sulfur; and leases 132 railcars to transport fertilizer products. Its Marine Transportation segment operates 42 inland marine tank barges, 25 inland push boats, and 4 offshore tug and barge units that transport petroleum products and by-products to oil and gas refining companies, and petroleum marketing companies. Martin Midstream GP LLC serves as a general partner of the company. The company was founded in 2002 and is based in Kilgore, Texas.