Boardwalk Pipeline Partners L.P. (BWP) Receives Consensus Recommendation of “Hold” from Analysts

Boardwalk Pipeline Partners L.P. (NYSE:BWP) has received a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $22.25.

A number of brokerages have commented on BWP. BidaskClub lowered Boardwalk Pipeline Partners L.P. from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Citigroup Inc. decreased their price objective on Boardwalk Pipeline Partners L.P. from $22.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank Of Canada lowered Boardwalk Pipeline Partners L.P. from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $22.00 to $18.00 in a report on Tuesday, August 1st. Zacks Investment Research lowered Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, UBS AG reaffirmed 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.

Shares of Boardwalk Pipeline Partners L.P. (NYSE BWP) opened at $14.18 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $3,549.20, a P/E ratio of 10.35 and a beta of 0.74. Boardwalk Pipeline Partners L.P. has a twelve month low of $13.40 and a twelve month high of $18.95.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its quarterly earnings data on Monday, October 30th. The pipeline company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $300.50 million during the quarter, compared to analyst estimates of $324.85 million. Boardwalk Pipeline Partners L.P. had a return on equity of 7.55% and a net margin of 22.50%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. sell-side analysts predict that Boardwalk Pipeline Partners L.P. will post 1.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, November 8th. Boardwalk Pipeline Partners L.P.’s dividend payout ratio is presently 33.90%.

Several hedge funds have recently added to or reduced their stakes in BWP. The Manufacturers Life Insurance Company grew 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 grew 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 purchased a new position in Boardwalk Pipeline Partners L.P. in the second quarter valued at approximately $211,000. Creative Planning lifted its stake in 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 purchasing an additional 800 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new position in Boardwalk Pipeline Partners L.P. in the second quarter valued at approximately $248,000. 93.74% of the stock is owned by institutional investors.

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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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