Bank of America Lowers Boardwalk Pipeline Partners (BWP) Price Target to $15.00

Boardwalk Pipeline Partners (NYSE:BWP) had its price target cut by research analysts at Bank of America from $16.00 to $15.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the pipeline company’s stock. Bank of America’s target price would indicate a potential upside of 34.77% from the company’s previous close.

BWP has been the topic of several other research reports. Barclays set a $14.00 target price on shares of Boardwalk Pipeline Partners and gave the company a “hold” rating in a research note on Monday. Credit Suisse Group assumed coverage on shares of Boardwalk Pipeline Partners in a research note on Thursday, January 4th. They issued a “neutral” rating and a $15.00 target price on the stock. Goldman Sachs Group assumed coverage on shares of Boardwalk Pipeline Partners in a research note on Friday, November 17th. They issued a “sell” rating and a $14.00 target price on the stock. TheStreet lowered shares of Boardwalk Pipeline Partners from a “b-” rating to a “c+” rating in a research note on Friday, January 19th. Finally, ValuEngine lowered shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Boardwalk Pipeline Partners currently has a consensus rating of “Hold” and a consensus price target of $18.56.

Shares of Boardwalk Pipeline Partners (BWP) opened at $11.13 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. The firm has a market cap of $2,845.86, a PE ratio of 8.42 and a beta of 0.60. Boardwalk Pipeline Partners has a 1 year low of $11.00 and a 1 year high of $18.79.

Boardwalk Pipeline Partners (NYSE:BWP) last issued its earnings results on Monday, February 12th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The business had revenue of $337.50 million during the quarter, compared to the consensus estimate of $352.58 million. Boardwalk Pipeline Partners had a net margin of 22.46% and a return on equity of 7.42%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. equities research analysts forecast that Boardwalk Pipeline Partners will post 1.27 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cushing Asset Management LP boosted its stake in Boardwalk Pipeline Partners by 283.7% during the 4th quarter. Cushing Asset Management LP now owns 3,476,670 shares of the pipeline company’s stock worth $44,884,000 after acquiring an additional 2,570,470 shares during the last quarter. Goldentree Asset Management LP bought a new position in Boardwalk Pipeline Partners during the 4th quarter worth approximately $234,000. Kayne Anderson Capital Advisors LP boosted its stake in Boardwalk Pipeline Partners by 4.1% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 1,945,100 shares of the pipeline company’s stock worth $25,102,000 after acquiring an additional 76,700 shares during the last quarter. Castleton Investment Management LLC boosted its stake in Boardwalk Pipeline Partners by 26.9% during the 4th quarter. Castleton Investment Management LLC now owns 255,000 shares of the pipeline company’s stock worth $3,292,000 after acquiring an additional 54,000 shares during the last quarter. Finally, AMP Capital Investors Ltd bought a new position in Boardwalk Pipeline Partners during the 4th quarter worth approximately $924,000. 98.12% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Bank of America Lowers Boardwalk Pipeline Partners (BWP) Price Target to $15.00” was first posted by Week Herald and is owned by of Week Herald. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://weekherald.com/2018/02/15/bank-of-america-lowers-boardwalk-pipeline-partners-bwp-price-target-to-15-00.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.

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.

Leave a Reply