Zacks Investment Research downgraded shares of Boardwalk Pipeline Partners (NYSE:BWP) from a hold rating to a sell rating in a report released on Wednesday.
According to Zacks, “Boardwalk Pipeline Partners LP is a master limited partnership engaged through its subsidiaries, Texas Gas Transmission, LLC and Gulf South Pipeline Company, LP, in the interstate transportation and storage of natural gas. “
Several other research analysts also recently commented on BWP. UBS Group reissued a buy rating and issued a $18.00 price objective (down from $22.00) on shares of Boardwalk Pipeline Partners in a research note on Wednesday, October 4th. Royal Bank of Canada reissued a hold rating and issued a $18.00 price objective on shares of Boardwalk Pipeline Partners in a research note on Tuesday, October 10th. Citigroup reduced their price objective on Boardwalk Pipeline Partners from $22.00 to $18.00 and set a buy rating for the company in a research note on Thursday, November 2nd. Goldman Sachs Group started coverage on Boardwalk Pipeline Partners in a research note on Friday, November 17th. They issued a sell rating and a $14.00 price objective for the company. Finally, ValuEngine downgraded Boardwalk Pipeline Partners from a buy rating to a hold rating in a research note on Sunday, December 31st. Three 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 presently has a consensus rating of Hold and an average price target of $19.25.
Boardwalk Pipeline Partners (NYSE:BWP) last posted its quarterly earnings data on Monday, October 30th. The pipeline company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Boardwalk Pipeline Partners had a return on equity of 7.55% and a net margin of 22.50%. The firm had revenue of $300.50 million during the quarter, compared to the consensus estimate of $324.85 million. During the same period in the prior year, the company earned $0.19 EPS. The firm’s revenue was down .9% compared to the same quarter last year. research analysts predict that Boardwalk Pipeline Partners will post 1.4 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the business. Alps Advisors Inc. grew its holdings in Boardwalk Pipeline Partners by 11.3% in the 3rd quarter. Alps Advisors Inc. now owns 10,095,933 shares of the pipeline company’s stock valued at $148,410,000 after buying an additional 1,021,142 shares in the last quarter. FMR LLC grew its holdings in Boardwalk Pipeline Partners by 8.8% in the 2nd quarter. FMR LLC now owns 9,824,830 shares of the pipeline company’s stock valued at $176,945,000 after buying an additional 795,622 shares in the last quarter. Maple Brown Abbott Ltd grew its holdings in Boardwalk Pipeline Partners by 28.8% in the 3rd quarter. Maple Brown Abbott Ltd now owns 5,193,027 shares of the pipeline company’s stock valued at $76,337,000 after buying an additional 1,162,584 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $68,554,000 after buying an additional 140,629 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Boardwalk Pipeline Partners by 13.2% in the 4th quarter. Bank of Montreal Can now owns 2,346,950 shares of the pipeline company’s stock valued at $30,299,000 after buying an additional 274,000 shares in the last quarter. Institutional investors own 97.18% of the company’s stock.
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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.
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