Boardwalk Pipeline Partners L.P. (BWP) Downgraded by BidaskClub

BidaskClub cut shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) from a sell rating to a strong sell rating in a report issued on Wednesday.

A number of other research firms also recently commented on BWP. Wells Fargo & Company reissued an outperform rating and set a $35.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research report on Tuesday, May 9th. ValuEngine downgraded shares of Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Boardwalk Pipeline Partners L.P. from a hold rating to a buy rating and set a $21.00 target price on the stock in a research report on Thursday, April 13th. Finally, Royal Bank Of Canada reissued a buy rating and set a $22.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $22.75.

Shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) traded up 0.65% during trading on Wednesday, hitting $15.58. 436,386 shares of the company traded hands. Boardwalk Pipeline Partners L.P. has a 52 week low of $15.27 and a 52 week high of $18.95. The company has a 50 day moving average price of $17.13 and a 200 day moving average price of $17.88. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 14.28 and a beta of 0.76.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last announced its quarterly earnings data on Monday, July 31st. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. Boardwalk Pipeline Partners L.P. had a net margin of 20.78% and a return on equity of 7.14%. The company had revenue of $317.60 million for the quarter, compared to the consensus estimate of $315.12 million. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 EPS. On average, analysts expect that Boardwalk Pipeline Partners L.P. will post $1.42 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 10th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Tuesday, August 8th. Boardwalk Pipeline Partners L.P.’s dividend payout ratio (DPR) is 36.36%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in shares of Boardwalk Pipeline Partners L.P. by 8.8% in the second quarter. FMR LLC now owns 9,824,830 shares of the pipeline company’s stock worth $176,945,000 after buying an additional 795,622 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Boardwalk Pipeline Partners L.P. by 3.6% in the second quarter. Alps Advisors Inc. now owns 9,074,791 shares of the pipeline company’s stock worth $163,437,000 after buying an additional 314,227 shares during the last quarter. Morgan Stanley increased its position in shares of Boardwalk Pipeline Partners L.P. by 5.3% in the first quarter. Morgan Stanley now owns 8,925,784 shares of the pipeline company’s stock worth $163,432,000 after buying an additional 447,888 shares during the last quarter. Atlantic Trust Group LLC increased its position in shares of Boardwalk Pipeline Partners L.P. by 9.0% in the second quarter. Atlantic Trust Group LLC now owns 4,096,632 shares of the pipeline company’s stock worth $73,780,000 after buying an additional 339,460 shares during the last quarter. Finally, Maple Brown Abbott Ltd increased its position in shares of Boardwalk Pipeline Partners L.P. by 14.8% in the second quarter. Maple Brown Abbott Ltd now owns 4,030,443 shares of the pipeline company’s stock worth $72,588,000 after buying an additional 519,935 shares during the last quarter. 98.72% of the stock is currently owned by institutional investors and hedge funds.

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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