Boardwalk Pipeline Partners L.P. (NYSE:BWP) issued its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01, Briefing.com reports. Boardwalk Pipeline Partners L.P. had a return on equity of 7.55% and a net margin of 22.50%. The company had revenue of $300.50 million for the quarter, compared to the consensus estimate of $324.85 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. Boardwalk Pipeline Partners L.P.’s revenue for the quarter was down .9% on a year-over-year basis.
Boardwalk Pipeline Partners L.P. (NYSE:BWP) traded down $0.25 during trading on Tuesday, reaching $14.30. 907,800 shares of the company were exchanged, compared to its average volume of 808,553. The firm has a market cap of $3,641.81, a price-to-earnings ratio of 10.62 and a beta of 0.74. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.77. Boardwalk Pipeline Partners L.P. has a 1 year low of $13.40 and a 1 year high of $18.95.
The firm also recently announced 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 2.80%. The ex-dividend date is Wednesday, November 8th. Boardwalk Pipeline Partners L.P.’s payout ratio is 33.90%.
Several research analysts recently weighed in on BWP shares. Zacks Investment Research lowered Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Royal Bank Of Canada reissued a “hold” rating and set a $18.00 price target on shares of Boardwalk Pipeline Partners L.P. in a research note on Tuesday, October 10th. BidaskClub downgraded Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Citigroup Inc. cut their price target 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, November 2nd. Finally, ValuEngine downgraded Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.80.
A hedge fund recently raised its stake in Boardwalk Pipeline Partners L.P. stock. The Manufacturers Life Insurance Company grew its stake in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 7.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,374 shares of the pipeline company’s stock after purchasing an additional 494 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Boardwalk Pipeline Partners L.P. were worth $133,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 93.58% of the company’s stock.
Boardwalk Pipeline Partners L.P. Company 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.
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