Morgan Stanley says investors should scoop this stock tied to the AI buildout

A U.S. appeals court upheld New York's permit for Williams' NESE pipeline project, citing proper environmental review. The decision may influence a pending case in New Jersey. The project aims to transport natural gas from Pennsylvania to New York City, benefiting New Jersey economically during construction.

A court upheld New York's approval of Williams Co.'s $1B Northeast Supply Enhancement pipeline project, rejecting environmental groups' claims. The ruling allows construction to proceed, including a 17-mile harbor crossing. Williams addressed prior concerns, such as sediment loss and hard-clam habitat impact, and the project includes environmental safeguards. The company aims to complete the project by 2027, but faces ongoing legal challenges.

Williams Companies (NYSE:WMB) discussed Q2 plans to support grid expansion via rapid deployment, scale, and hybrid structures. It formed a Power Innovation JV with Blackstone with $5.34B committed capital and capped 6.35% cost of equity. Williams also agreed to buy Momentum Midstream for $5.5B, adding 6 Bcf/d gathering and 4 Bcf/d pipeline capacity, plus Shelby Connector and Delta Access projects.

Williams Companies (WMB) will buy Momentum Midstream for $5.5B and invest $1.5B in its Delta Access Expansion, adding 4.05 Bcf/d capacity and 2.25 Bcf/d starting early 2029. Enbridge (ENB) and MPLX (MPLX) sanctioned the 2.6 Bcf/d Bay Runner Twin Pipeline for NextDecade’s Rio Grande LNG, entering service by 2030. TC Energy (TRP) and DT Midstream (DTM) approved gas pipeline expansions tied to 20-year take-or-pay contracts for power and AI data centers.

The Williams Companies (WMB) reported Q2 2026 results and said it achieved first utility-scale power in-service for Socrates Phase 1 in under 18 months. Williams acquired Momentum Midstream for $5.5B, raised long-term EBITDA CAGR to 11%+ through 2030, and increased 2026 EBITDA guidance by $200M to $8.3B-$8.5B. It expects leverage around 3.75x and flagged hurricane and natural gas price risks.

Williams said on its Q2 earnings call that its $5.5 billion acquisition of Momentum Midstream will expand its Haynesville gathering and add about 6 Bcf/d of gathering and over 4 Bcf/d of take-or-pay pipeline capacity. It also announced Shelby Connector (up to 750 MMcf/d, in 1H 2028) and Delta Access (2.25 Bcf/d, early 2029). Williams raised 2026 adjusted EBITDA guidance to $8.3-$8.5B.