Boardwalk Pipeline Partners L.P. (BWP) Given Consensus Rating of “Hold” by Brokerages

Shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) have earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.67.

A number of research analysts have recently weighed in on BWP shares. Wells Fargo & Company restated an “outperform” rating and issued a $35.00 target price on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, May 9th. ValuEngine lowered Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub lowered Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, April 13th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $22.00 target price on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, June 6th.

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Shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) traded up 0.90% during midday trading on Friday, hitting $15.62. The stock had a trading volume of 217,771 shares. The company’s 50 day moving average is $17.18 and its 200 day moving average is $17.90. Boardwalk Pipeline Partners L.P. has a 52 week low of $15.27 and a 52 week high of $18.95. The firm has a market cap of $3.91 billion, a P/E ratio of 14.32 and a beta of 0.76.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last posted its earnings results on Monday, July 31st. The pipeline company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. Boardwalk Pipeline Partners L.P. had a net margin of 20.78% and a return on equity of 7.14%. The company had revenue of $317.60 million during the quarter, compared to the consensus estimate of $315.12 million. During the same quarter in the prior year, the business earned $0.26 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Boardwalk Pipeline Partners L.P. will post $1.42 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 10th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.40 dividend on an annualized basis and a yield of 2.58%. Boardwalk Pipeline Partners L.P.’s dividend payout ratio (DPR) is currently 36.36%.

Hedge funds have recently modified their holdings of the company. Spirit of America Management Corp NY raised its stake in shares of Boardwalk Pipeline Partners L.P. by 13.8% in the first quarter. Spirit of America Management Corp NY now owns 731,750 shares of the pipeline company’s stock worth $13,398,000 after buying an additional 88,650 shares during the period. Sigma Planning Corp raised its stake in shares of Boardwalk Pipeline Partners L.P. by 0.7% in the first quarter. Sigma Planning Corp now owns 17,301 shares of the pipeline company’s stock worth $317,000 after buying an additional 113 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Boardwalk Pipeline Partners L.P. by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 52,691 shares of the pipeline company’s stock worth $965,000 after buying an additional 335 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Boardwalk Pipeline Partners L.P. by 214.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 138,400 shares of the pipeline company’s stock worth $2,534,000 after buying an additional 94,400 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Boardwalk Pipeline Partners L.P. by 7.2% in the first quarter. Russell Investments Group Ltd. now owns 548,739 shares of the pipeline company’s stock worth $10,051,000 after buying an additional 36,791 shares during the period. Institutional investors and hedge funds own 98.72% of the company’s stock.

About Boardwalk Pipeline Partners L.P.

Boardwalk Pipeline Partners, LP is a limited partnership company. The Company’s business includes integrated natural gas and natural gas liquids, and other hydrocarbons (referred to together as NGLs) pipeline and storage systems. The Company is engaged in the operation of interstate natural gas and NGLs pipeline systems, and integrated storage facilities, including interstate natural gas pipeline systems located in the Gulf Coast region, Oklahoma, Arkansas and the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio, and its NGLs pipelines and storage facilities in Louisiana and Texas.

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