Boardwalk Pipeline Partners, LP (BWP) CEO Stanley C. Horton Buys 1,000 Shares

Boardwalk Pipeline Partners, LP (NYSE:BWP) CEO Stanley C. Horton purchased 1,000 shares of Boardwalk Pipeline Partners stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average cost of $11.13 per share, with a total value of $11,130.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of Boardwalk Pipeline Partners, LP (NYSE BWP) traded up $0.12 during trading hours on Tuesday, hitting $11.22. The company had a trading volume of 1,685,586 shares, compared to its average volume of 1,554,744. The company has a market cap of $2,790.00, a P/E ratio of 9.67 and a beta of 0.60. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.78. Boardwalk Pipeline Partners, LP has a 52 week low of $10.92 and a 52 week high of $18.79.

Boardwalk Pipeline Partners (NYSE:BWP) last announced its quarterly earnings data on Monday, February 12th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.07). The company had revenue of $337.50 million for 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 7.38%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. research analysts predict that Boardwalk Pipeline Partners, LP will post 1.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 22nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.57%. Boardwalk Pipeline Partners’s dividend payout ratio (DPR) is presently 34.48%.

Several large investors have recently made changes to their positions in BWP. Brookfield Asset Management Inc. boosted its stake in Boardwalk Pipeline Partners by 4.0% in the 4th quarter. Brookfield Asset Management Inc. now owns 2,218,481 shares of the pipeline company’s stock worth $28,641,000 after purchasing an additional 84,700 shares during the period. Westwood Holdings Group Inc. bought a new position in Boardwalk Pipeline Partners in the 4th quarter worth approximately $3,765,000. Jane Street Group LLC bought a new position in Boardwalk Pipeline Partners in the 4th quarter worth approximately $363,000. Cushing Asset Management LP boosted its stake in Boardwalk Pipeline Partners by 283.7% in the 4th quarter. Cushing Asset Management LP now owns 3,476,670 shares of the pipeline company’s stock worth $44,884,000 after purchasing an additional 2,570,470 shares during the period. Finally, Goldentree Asset Management LP bought a new position in Boardwalk Pipeline Partners in the 4th quarter worth approximately $234,000.

BWP has been the subject of several research reports. Goldman Sachs Group initiated coverage on shares of Boardwalk Pipeline Partners in a research report on Friday, November 17th. They set a “sell” rating and a $14.00 price target for the company. Credit Suisse Group initiated coverage on shares of Boardwalk Pipeline Partners in a research report on Thursday, January 4th. They set a “neutral” rating and a $15.00 price target for the company. Zacks Investment Research raised shares of Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. ValuEngine lowered shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Bank of America began coverage on Boardwalk Pipeline Partners in a research note on Tuesday, January 9th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $18.56.

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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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