Williams Partners L.P. WPZ reported first-quarter 2016 loss of 25 cents per limited partner unit. The Zacks Consensus Estimate was of earnings of 38 cents. The company’s bottom line also slipped from the year-ago profit of 9 cents per limited partner unit.Williams Partners LP (WPZ) EPS BNRI - Last 5 Quarters | FindTheCompanyQuarterly total revenue decreased 3.3% year over year to $1,654 million from $1,711 million. The top line also came in below the Zacks Consensus Estimate of $2,011 million.Williams Partners' distributable cash flow (DCF), attributable to partnership operations in the reported quarter, was $739 million as against $646 million in the year-ago quarter. Recently, the partnership announced a regular quarterly cash distribution of 85 cents per unit.Segment PerformanceConsolidated adjusted segment profit was $1,060.0 million, up 15.6% from the year-ago level of $917.0 million.Central: The Central operating area includes operations that were previously part of the former Access Midstream segment. The segment reported profits of $226 million compared with $218 million in the prior-year quarter. Profits were driven by higher gathering fees in the Haynesville areas.Northeast G&P: The segment reported profits of $219 million as against $196 million in first-quarter 2015. The improved results are primarily driven by higher volumes and improved equity earnings in the Utica Shale. Additionally, investments in Utica East Ohio Midstream LLC contributed to the profits.Atlantic-Gulf: The segment reported profits of $399 million compared with $335 million in the year-ago quarter. The upside was primarily backed by higher transportation fee revenues.West: Segmental profit was $159 million as against $162 million a year ago.NGL & Petchem Services: The segment reported profits of $57 million compared with $7 million in the year-earlier quarter. The upside was driven by higher olefins margins at the Geismarplant.Zacks RankWilliams Partners carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the oil and gas sector include ReneSola Ltd. SOL, Seadrill Partners LLC SDLP and Braskem S.A. BAK. All these sport a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WILLIAMS PTR LP (WPZ): Free Stock Analysis Report BRASKEM SA (BAK): Free Stock Analysis Report RENESOLA LT-ADR (SOL): Free Stock Analysis Report SEADRILL PTNRS (SDLP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research