The Williams Companies, Inc. WMB recently announced that the Federal Energy Regulatory Commission (FERC) has reinstated Transco’s certificate for the Regional Energy Access Expansion (REA). This will be immediately effective after the D.C. Circuit Court of Appeals issues its mandate.
WMB appreciated FERC’s speedy action when the natural gas infrastructure was of prime importance in delivering the record volume demand.
WMB’s Temporary Certificate
In July last year, a U.S. appeals court criticized FERC’s decision to approve the nearly $1 billion project, citing that the energy regulator should have adequately reviewed the Transcontinental Gas Pipe Line’s risk of significant greenhouse gas emissions.
Later, in September, WMB stated the importance of this pipeline to FERC in delivering affordable and reliable natural gas during the upcoming winter season and obtained a temporary emergency certificate to continue its operations for the expansion of the pipeline.
Importance of WMB’s Transco Pipeline Expansion
The recent bitter cold conditions across the Northeast highlight the importance of the transmission pipeline, which helps deliver natural gas to keep millions of Americans warm.
The expansion project, with the annual capacity to serve about 4.4 million homes, will provide access to gas supplies and will be able to provide reliable service to customers across New Jersey, New York, Pennsylvania and Maryland, and will increase natural gas transportation capacity by up to 829,000 dekatherms per day.
Due to the frigid temperatures, natural gas volumes on Transco have recently surged, in addition to normal demand in the power and industrial sectors, leading Transco to achieve another all-time peak day on Jan. 23, 2025, with a total volume of 19.17 billion cubic feet per day.
WMB’s Zacks Rank and Key Picks
Oklahoma-based The Williams Companies is a premier energy infrastructure provider in North America. Currently, WMB has a Zacks Rank #3 (Hold).
Investors interested in the energy sector might look at some top-ranked stocks like ARC Resources Ltd. AETUF, Equinor ASA EQNR and Gulfport Energy Corporation GPOR.While ARC Resources and Equinor currently sport a Zacks Rank #1 (Strong Buy), Gulfport Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Calgary, Canada-based ARC Resources is engaged in the exploration, acquisition and development of oil and natural gas properties. AETUF’s expected EPS growth rate for next year is 50.78%, which aligns favorably with the industry growth rate of 10.50%.
Headquartered in Stavanger, Norway, Equinor is one of the premier integrated energy companies in the world, with operations in 30 countries. EQNR’s expected EPS growth rate for the next five years is 5.30%, which aligns favorably with the industry growth rate of 5%.
Gulfport Energy is an independent natural gas and oil company focused on the exploration and development of natural gas and oil properties in North America. The Zacks Consensus Estimate for GPOR’s 2024 earnings indicates 108.53% year-over-year growth.
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