Williams Partners (NYSE: WPZ) is expected to report Q3 earnings on Oct. 30. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Williams Partners's revenues will grow 13.9% and EPS will shrink -37.4%.

The average estimate for revenue is $1.91 billion. On the bottom line, the average EPS estimate is $0.57.

Revenue details
 Last quarter, Williams Partners logged revenue of $1.58 billion. GAAP reported sales were 5.3% lower than the prior-year quarter's $1.67 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, EPS came in at $0.57. GAAP EPS of $0.57 for Q2 were 51% lower than the prior-year quarter's $1.16 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 26.5%, 370 basis points worse than the prior-year quarter. Operating margin was 17.9%, 650 basis points worse than the prior-year quarter. Net margin was 12.2%, 800 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $7.05 billion. The average EPS estimate is $2.33.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 261 members out of 275 rating the stock outperform, and 14 members rating it underperform. Among 97 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 92 give Williams Partners a green thumbs-up, and five give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Williams Partners is outperform, with an average price target of $63.75.

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