MLP Profits is recommending the sale of half of your Williams (NYSE: WMB) stake following the midstream processor’s rejection of a takeover bid by Energy Transfer Equity (NYSE: ETE).

While Williams’ board has signaled that the company is open to a deal at an even higher price, investors shouldn’t hesitate to take a partial profit following today’s rally. As we have seen in the past, even takeover bids at an impressive premium to the market price don’t always result in a deal within the midstream sector.

We will have additional analysis of the Williams news in the June 23 MLP Investing Insider.