Boardwalk Pipeline Partners L.P. (NYSE:BWP) released its earnings results on Monday. The pipeline company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01, Briefing.com reports. Boardwalk Pipeline Partners L.P. had a return on equity of 7.58% and a net margin of 22.50%. The firm had revenue of $300.50 million for the quarter, compared to analyst estimates of $324.85 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis.
Boardwalk Pipeline Partners L.P. (NYSE:BWP) opened at 14.06 on Wednesday. The firm has a 50-day moving average price of $14.75 and a 200 day moving average price of $16.47. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 12.89 and a beta of 0.77. Boardwalk Pipeline Partners L.P. has a 1-year low of $13.40 and a 1-year high of $18.95.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 9th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.85%. The ex-dividend date is Wednesday, November 8th. Boardwalk Pipeline Partners L.P.’s payout ratio is 33.90%.
An institutional investor recently raised its position in Boardwalk Pipeline Partners L.P. stock. The Manufacturers Life Insurance Company raised its stake in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,374 shares of the pipeline company’s stock after buying an additional 494 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Boardwalk Pipeline Partners L.P. were worth $133,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 93.72% of the company’s stock.
BWP has been the topic of several analyst reports. UBS AG reissued a “buy” rating and issued a $18.00 target price (down previously from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a research note on Wednesday, October 4th. Zacks Investment Research lowered Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. ValuEngine lowered Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub raised Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $18.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.75.
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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