Boardwalk Pipeline Partners L.P. (BWP) Stake Lifted by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,900 shares of the pipeline company’s stock after acquiring an additional 52,500 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.13% of Boardwalk Pipeline Partners L.P. worth $4,835,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its holdings 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 valued at $133,000 after acquiring an additional 494 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Boardwalk Pipeline Partners L.P. by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock valued at $202,000 after acquiring an additional 31 shares in the last quarter. Rafferty Asset Management LLC bought a new position in shares of Boardwalk Pipeline Partners L.P. in the second quarter valued at approximately $211,000. Creative Planning boosted its holdings in shares of Boardwalk Pipeline Partners L.P. by 6.5% in the second quarter. Creative Planning now owns 13,072 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 800 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Boardwalk Pipeline Partners L.P. in the first quarter valued at approximately $243,000. Institutional investors and hedge funds own 93.72% of the company’s stock.

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Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. Boardwalk Pipeline Partners L.P. had a net margin of 22.50% and a return on equity of 7.55%. The company had revenue of $300.50 million during the quarter, compared to analysts’ expectations of $324.85 million. During the same quarter in the previous year, the company earned $0.19 EPS. Boardwalk Pipeline Partners L.P.’s revenue was down .9% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Thursday, November 9th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, November 8th. Boardwalk Pipeline Partners L.P.’s dividend payout ratio is currently 33.90%.

BWP has been the subject of several recent analyst reports. BidaskClub upgraded shares of Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Royal Bank Of Canada cut shares of Boardwalk Pipeline Partners L.P. from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $22.00 to $18.00 in a report on Tuesday, August 1st. Zacks Investment Research cut shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. ValuEngine cut shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, UBS AG reiterated a “buy” rating and issued a $18.00 price objective (down from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average 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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