Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>The Williams Companies presented a strong narrative of growth and resilience in their latest earnings call for the second quarter of 2024.</li><li>Highlighted by the expansion of their Transmission and Storage business, the company reported record results despite the headwinds from low natural gas prices that impacted their Gathering and Processing business.</li><li>Prominent themes throughout the report included consistent execution of strategic projects, optimization efforts in their portfolio, and sustainability practices.</li></ul>

The Williams Companies presented a strong narrative of growth and resilience in their latest earnings call for the second quarter of 2024.Highlighted by the expansion of their Transmission and Storage business, the company reported record results despite the headwinds from low natural gas prices that impacted their Gathering and Processing business.Prominent themes throughout the report included consistent execution of strategic projects, optimization efforts in their portfolio, and sustainability practices.

The Williams Companies: A Bear's Perspective! - Major Drivers

<ul><li>The Williams Companies discussed its Q1 2024 results, underscoring a robust quarter with notable operational, financial, and strategic achievements.</li><li>The company reported a noteworthy 8% year-over-year increase in EBITDA to $1.934 billion, despite challenges such as a 25% decline in natural gas prices and milder winter weather.</li><li>This performance illustrates the strength and resilience of The Williams Companies' core business, independent of the fluctuating commodity price environment.</li></ul>

The Williams Companies discussed its Q1 2024 results, underscoring a robust quarter with notable operational, financial, and strategic achievements.The company reported a noteworthy 8% year-over-year increase in EBITDA to $1.934 billion, despite challenges such as a 25% decline in natural gas prices and milder winter weather.This performance illustrates the strength and resilience of The Williams Companies' core business, independent of the fluctuating commodity price environment.

The Williams Companies Inc.: How Will The Deepwater Growth Projects Impact Their Future Revenues? - Major Drivers

<ul><li>The Williams Companies has reported strong performance in the third quarter of 2023 with significant advances in operational execution, project completion, and positive expansion achievements.</li><li>In an environment of low gas prices compared to the third quarter of 2022, the company saw an impressive uptick in several areas.</li><li>The first half of Transco's Regional Energy Access project, which will increase natural gas transportation from the northeast part of the Marcellus Shale to markets in Pennsylvania, New Jersey, and Maryland, has been completed, and the second half is slated for completion in the last quarter of 2024.</li></ul>

The Williams Companies has reported strong performance in the third quarter of 2023 with significant advances in operational execution, project completion, and positive expansion achievements.In an environment of low gas prices compared to the third quarter of 2022, the company saw an impressive uptick in several areas.The first half of Transco's Regional Energy Access project, which will increase natural gas transportation from the northeast part of the Marcellus Shale to markets in Pennsylvania, New Jersey, and Maryland, has been completed, and the second half is slated for completion in the last quarter of 2024.

The Williams Companies Inc.: 6 Major Growth Drivers For Their Performance In 2024 & Beyond! - Major Drivers

<ul><li>The Williams Companies, Inc. delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.</li><li>While facing a tougher year-over-year comparison due to favorable commodity prices in the previous year, the total adjusted EBITDA, along with the 6% growth in the base business, demonstrated the company's resilience and strength.</li><li>Despite challenges such as lower natural gas prices impacting revenues, Williams' core business segments demonstrated notable growth.</li></ul>

The Williams Companies, Inc. delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass the analyst consensus in terms of earnings.While facing a tougher year-over-year comparison due to favorable commodity prices in the previous year, the total adjusted EBITDA, along with the 6% growth in the base business, demonstrated the company's resilience and strength.Despite challenges such as lower natural gas prices impacting revenues, Williams' core business segments demonstrated notable growth.

The Williams Companies: How They're Thriving Despite Revenue Challenges! - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.</li>
<li>Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback <em>again</em>.</li>
<li>We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).</li>
</ul>


Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.
Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback again.
We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).


Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

United States

The Williams Companies, Inc. is an energy infrastructure company focused on connecting North America's hydrocarbon resource plays to growing markets for natural gas, natural gas liquids (NGLs) and olefins. The Company owns and operates midstream gathering and processing assets, and interstate natural gas pipelines.

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Williams Cos (WMB US)

The Williams Companies: A Bear's Perspective! - Major Drivers

The Williams Companies presented a strong narrative of growth and resilience in their latest earnings call for the second quarter of...

Baptista Research

The Williams Companies Inc.: How Will The Deepwater Growth Projects Impact Their Future Revenues? - Major Drivers

The Williams Companies discussed its Q1 2024 results, underscoring a robust quarter with notable operational, financial, and strategic...

Baptista Research

The Williams Companies Inc.: 6 Major Growth Drivers For Their Performance In 2024 & Beyond! - Major Drivers

The Williams Companies has reported strong performance in the third quarter of 2023 with significant advances in operational execution, project...

Baptista Research

The Williams Companies: How They're Thriving Despite Revenue Challenges! - Major Drivers

The Williams Companies, Inc. delivered a mixed result in the recent quarter, with revenues below market expectations, but it managed to surpass...

Baptista Research

Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

Buy the Pullback Again, Same as Our Election Day Report; S&P 500 $SPX, Nasdaq 100 $QQQ, Russell 2000 $IWM Testing Confluence of Support at 20-day...

Vermilion Research

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