Boardwalk Pipeline Partners L.P. (BWP) Holdings Cut by First Trust Advisors LP

First Trust Advisors LP trimmed its stake in shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 25.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,344 shares of the pipeline company’s stock after selling 20,444 shares during the period. First Trust Advisors LP’s holdings in Boardwalk Pipeline Partners were worth $872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its stake in shares of Boardwalk Pipeline Partners 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 lifted its stake in shares of Boardwalk Pipeline Partners by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock worth $202,000 after buying an additional 31 shares in the last quarter. Rafferty Asset Management LLC purchased a new position in shares of Boardwalk Pipeline Partners in the second quarter worth about $211,000. Cetera Investment Advisers purchased a new position in shares of Boardwalk Pipeline Partners in the second quarter worth about $248,000. Finally, Proficio Capital Partners LLC lifted its stake in shares of Boardwalk Pipeline Partners by 3.2% in the second quarter. Proficio Capital Partners LLC now owns 15,989 shares of the pipeline company’s stock worth $262,000 after buying an additional 500 shares in the last quarter. 97.18% of the stock is currently owned by institutional investors and hedge funds.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) opened at $13.24 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. Boardwalk Pipeline Partners L.P. has a 52 week low of $12.82 and a 52 week high of $18.95. The company has a market cap of $3,318.93, a PE ratio of 9.68 and a beta of 0.72.

Boardwalk Pipeline Partners (NYSE:BWP) last issued its earnings results on Monday, October 30th. The pipeline company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Boardwalk Pipeline Partners had a net margin of 22.50% and a return on equity of 7.55%. The company had revenue of $300.50 million for the quarter, compared to the consensus estimate of $324.85 million. During the same period in the previous year, the firm earned $0.19 earnings per share. Boardwalk Pipeline Partners’s quarterly revenue was down .9% compared to the same quarter last year. equities analysts predict that Boardwalk Pipeline Partners L.P. will post 1.41 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Thursday, November 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Wednesday, November 8th. Boardwalk Pipeline Partners’s dividend payout ratio (DPR) is presently 33.90%.

Several equities analysts have recently weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Boardwalk Pipeline Partners in a research note on Friday, November 17th. They issued a “sell” rating and a $14.00 price target on the stock. Zacks Investment Research raised shares of Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Citigroup decreased their price target on shares of Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, November 2nd. Royal Bank Of Canada reissued a “hold” rating and issued a $18.00 price target on shares of Boardwalk Pipeline Partners in a research note on Tuesday, October 10th. Finally, UBS reissued a “buy” rating and issued a $18.00 price target (down from $22.00) on shares of Boardwalk Pipeline Partners in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.50.

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About Boardwalk Pipeline Partners

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 (NYSE:BWP)

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