Boardwalk Pipeline Partners L.P. (NYSE:BWP) Lowered to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) from a sell rating to a strong sell rating in a report released on Wednesday, August 9th.

BWP has been the subject of several other research reports. Zacks Investment Research downgraded Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a research note on Wednesday, April 26th. Royal Bank Of Canada restated a buy rating and issued a $21.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research note on Thursday, April 13th. ValuEngine downgraded Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Wells Fargo & Company reaffirmed an outperform rating and issued a $35.00 price target on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Boardwalk Pipeline Partners L.P. presently has a consensus rating of Hold and an average price target of $22.75.

Boardwalk Pipeline Partners L.P. (BWP) opened at 14.85 on Wednesday. Boardwalk Pipeline Partners L.P. has a 12 month low of $14.78 and a 12 month high of $18.95. The company’s 50-day moving average is $16.75 and its 200-day moving average is $17.75. The stock has a market capitalization of $3.72 billion, a P/E ratio of 13.61 and a beta of 0.76.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its earnings results on Monday, July 31st. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by $0.01. Boardwalk Pipeline Partners L.P. had a return on equity of 7.14% and a net margin of 20.78%. 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. Equities analysts anticipate that Boardwalk Pipeline Partners L.P. will post $1.42 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.69%. Boardwalk Pipeline Partners L.P.’s payout ratio is currently 36.36%.

Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth $117,000. The Manufacturers Life Insurance Company boosted its position in shares of Boardwalk Pipeline Partners L.P. by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after buying an additional 494 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in shares of Boardwalk Pipeline Partners L.P. by 0.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,210 shares of the pipeline company’s stock worth $205,000 after buying an additional 31 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Boardwalk Pipeline Partners L.P. during the second quarter worth $211,000. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth $230,000. 99.03% of the stock is currently owned by institutional investors.

Boardwalk Pipeline Partners L.P. Company Profile

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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