Boardwalk Pipeline Partners (BWP) Coverage Initiated by Analysts at Bank of America

Investment analysts at Bank of America assumed coverage on shares of Boardwalk Pipeline Partners (NYSE:BWP) in a report issued on Tuesday, The Fly reports. The brokerage set a “buy” rating on the pipeline company’s stock.

A number of other brokerages have also commented on BWP. UBS Group reaffirmed a “buy” rating and set a $18.00 target price (down from $22.00) on shares of Boardwalk Pipeline Partners in a research report on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $18.00 target price on shares of Boardwalk Pipeline Partners in a research report on Tuesday, October 10th. Zacks Investment Research lowered shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Goldman Sachs Group assumed coverage on shares of Boardwalk Pipeline Partners in a research report on Friday, November 17th. They set a “sell” rating and a $14.00 target price on the stock. Finally, Citigroup reduced their target price on shares of Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Boardwalk Pipeline Partners currently has a consensus rating of “Hold” and an average target price of $19.71.

Shares of Boardwalk Pipeline Partners (NYSE BWP) opened at $12.97 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.56 and a quick ratio of 0.56. Boardwalk Pipeline Partners has a 1 year low of $12.79 and a 1 year high of $18.95. The firm has a market cap of $3,240.00, a PE ratio of 10.99 and a beta of 0.72.

Boardwalk Pipeline Partners (NYSE:BWP) last posted its quarterly earnings data on Monday, October 30th. The pipeline company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $324.85 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. equities research analysts predict that Boardwalk Pipeline Partners will post 1.41 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of BWP. Beach Investment Management LLC. purchased a new position in shares of Boardwalk Pipeline Partners during the second quarter worth approximately $358,000. Neuberger Berman Group LLC increased its holdings in Boardwalk Pipeline Partners by 0.5% during the second quarter. Neuberger Berman Group LLC now owns 113,041 shares of the pipeline company’s stock valued at $2,036,000 after buying an additional 562 shares during the period. Sheaff Brock Investment Advisors LLC increased its holdings in Boardwalk Pipeline Partners by 0.3% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock valued at $202,000 after buying an additional 31 shares during the period. Alliancebernstein L.P. increased its holdings in Boardwalk Pipeline Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 31,547 shares of the pipeline company’s stock valued at $568,000 after buying an additional 1,766 shares during the period. Finally, Stephens Inc. AR increased its holdings in Boardwalk Pipeline Partners by 10.2% during the second quarter. Stephens Inc. AR now owns 19,802 shares of the pipeline company’s stock valued at $357,000 after buying an additional 1,825 shares during the period. 97.18% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Boardwalk Pipeline Partners (BWP) Coverage Initiated by Analysts at Bank of America” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.com-unik.info/2018/01/09/boardwalk-pipeline-partners-bwp-coverage-initiated-by-analysts-at-bank-of-america.html.

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.

The Fly

Analyst Recommendations for Boardwalk Pipeline Partners (NYSE:BWP)

Receive News & Ratings for Boardwalk Pipeline Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boardwalk Pipeline Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit