Boardwalk Pipeline Partners (NYSE:BWP) Now Covered by Goldman Sachs Group

Goldman Sachs Group initiated coverage on shares of Boardwalk Pipeline Partners (NYSE:BWP) in a research note issued to investors on Friday, November 17th, Marketbeat.com reports. The brokerage set a “sell” rating and a $14.00 price target on the pipeline company’s stock. Goldman Sachs Group’s price target would suggest a potential upside of 2.56% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. UBS reiterated a “buy” rating and issued a $18.00 target price (down from $22.00) on shares of Boardwalk Pipeline Partners in a research report on Wednesday, October 4th. Citigroup decreased their price objective on 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. Zacks Investment Research upgraded Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $18.00 target price on shares of Boardwalk Pipeline Partners in a research note on Wednesday, September 6th. Finally, ValuEngine cut Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.50.

Boardwalk Pipeline Partners (NYSE BWP) opened at $13.65 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a market capitalization of $3,416.54, a PE ratio of 9.96 and a beta of 0.72. Boardwalk Pipeline Partners has a one year low of $12.82 and a one year high of $18.95.

Boardwalk Pipeline Partners (NYSE:BWP) last posted 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. The company had revenue of $300.50 million for the quarter, compared to the consensus estimate of $324.85 million. Boardwalk Pipeline Partners had a return on equity of 7.55% and a net margin of 22.50%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. research analysts forecast that Boardwalk Pipeline Partners will post 1.41 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Trust Group LLC boosted its position in Boardwalk Pipeline Partners by 9.0% during the 2nd quarter. Atlantic Trust Group LLC now owns 4,096,632 shares of the pipeline company’s stock valued at $73,780,000 after acquiring an additional 339,460 shares in the last quarter. California Public Employees Retirement System raised its stake in Boardwalk Pipeline Partners by 4.3% in the 2nd quarter. California Public Employees Retirement System now owns 240,100 shares of the pipeline company’s stock worth $4,324,000 after acquiring an additional 10,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Boardwalk Pipeline Partners by 3.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,806,459 shares of the pipeline company’s stock worth $68,554,000 after acquiring an additional 140,629 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in Boardwalk Pipeline Partners by 10.7% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 830,674 shares of the pipeline company’s stock worth $12,211,000 after acquiring an additional 80,500 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Boardwalk Pipeline Partners by 3.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,940,534 shares of the pipeline company’s stock worth $34,949,000 after acquiring an additional 73,627 shares during the last quarter. 97.18% of the stock is currently owned by institutional investors and hedge funds.

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Boardwalk Pipeline Partners 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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