Williams Companies (WMB) Stock: Understanding Valuation Amidst Uncertainty

Williams Companies (WMB) shares have been active without a clear news catalyst, prompting investors to recheck its fundamentals and valuation. The stock has seen a 10.81% 1-month and 12.32% 3-month share price return, with a 1-year total shareholder return of 23.77%. The company's robust project backlog, disciplined layering of projects, and committed capital plan are driving upward revisions to EBITDA and AFFO guidance, indicating future earnings and dividend visibility. The narrative sees Williams Companies as modestly undervalued, with a fair value of $68.22.