Lee Danner & Bass Inc. Sells 6,664 Shares of Boardwalk Pipeline Partners L.P. (BWP)

Lee Danner & Bass Inc. trimmed its stake in shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 463,903 shares of the pipeline company’s stock after selling 6,664 shares during the quarter. Lee Danner & Bass Inc. owned 0.19% of Boardwalk Pipeline Partners L.P. worth $6,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D boosted its holdings in Boardwalk Pipeline Partners L.P. by 19.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 328,900 shares of the pipeline company’s stock valued at $4,835,000 after purchasing an additional 52,500 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Boardwalk Pipeline Partners L.P. during the second quarter valued at approximately $248,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Boardwalk Pipeline Partners L.P. by 0.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 110,753 shares of the pipeline company’s stock valued at $1,995,000 after purchasing an additional 641 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Boardwalk Pipeline Partners L.P. by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock valued at $133,000 after purchasing an additional 494 shares in the last quarter. Finally, CNH Partners LLC boosted its holdings in Boardwalk Pipeline Partners L.P. by 0.3% during the second quarter. CNH Partners LLC now owns 37,302 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 100 shares in the last quarter. 93.72% of the stock is currently owned by institutional investors.

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Shares of Boardwalk Pipeline Partners L.P. (NYSE BWP) traded down 0.63% on Tuesday, hitting $14.11. The stock had a trading volume of 204,919 shares. The company has a 50 day moving average of $14.78 and a 200-day moving average of $16.49. The firm has a market capitalization of $3.53 billion, a P/E ratio of 12.93 and a beta of 0.77. Boardwalk Pipeline Partners L.P. has a 12-month low of $13.40 and a 12-month high of $18.95.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last posted its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business had revenue of $300.50 million for the quarter, compared to analyst estimates of $324.85 million. Boardwalk Pipeline Partners L.P. had a net margin of 20.78% and a return on equity of 7.14%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Equities analysts predict that Boardwalk Pipeline Partners L.P. will post $1.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.82%. Boardwalk Pipeline Partners L.P.’s dividend payout ratio is 36.36%.

A number of equities research analysts have weighed in on the company. BidaskClub raised Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Royal Bank Of Canada downgraded Boardwalk Pipeline Partners L.P. from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $22.00 to $18.00 in a report on Tuesday, August 1st. UBS AG reissued a “buy” rating and issued a $18.00 target price (down from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a report on Wednesday, October 4th. Finally, ValuEngine downgraded Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Boardwalk Pipeline Partners L.P. currently has an average rating of “Hold” and a consensus target price of $22.75.

Boardwalk Pipeline Partners L.P. 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.

Institutional Ownership by Quarter for Boardwalk Pipeline Partners L.P. (NYSE:BWP)

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