Traders Purchase High Volume of Call Options on Boardwalk Pipeline Partners (BWP)

Boardwalk Pipeline Partners (NYSE:BWP) saw unusually large options trading activity on Monday. Stock investors purchased 4,009 call options on the company. This represents an increase of approximately 885% compared to the average daily volume of 407 call options.

BWP stock opened at $10.83 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.64 and a current ratio of 0.64. Boardwalk Pipeline Partners has a twelve month low of $9.85 and a twelve month high of $18.79. The company has a market cap of $2,638.12, a price-to-earnings ratio of 8.02 and a beta of 0.66.

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Boardwalk Pipeline Partners (NYSE:BWP) last released its quarterly earnings data on Monday, February 12th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Boardwalk Pipeline Partners had a return on equity of 7.38% and a net margin of 22.46%. The company had revenue of $337.50 million for the quarter, compared to analyst estimates of $352.58 million. During the same period in the previous year, the business posted $0.36 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. analysts predict that Boardwalk Pipeline Partners will post 1.21 earnings per share for the current year.

BWP has been the subject of a number of recent research reports. Credit Suisse Group initiated coverage on shares of Boardwalk Pipeline Partners in a research note on Thursday, January 4th. They issued a “neutral” rating and a $15.00 price target for the company. UBS reiterated a “buy” rating and issued a $17.00 price target (down previously from $18.00) on shares of Boardwalk Pipeline Partners in a research note on Friday, March 2nd. Barclays set a $14.00 price target on shares of Boardwalk Pipeline Partners and gave the stock a “hold” rating in a research note on Monday, February 12th. Zacks Investment Research downgraded shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Finally, ValuEngine downgraded shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.22.

A number of hedge funds have recently added to or reduced their stakes in BWP. SeaCrest Wealth Management LLC acquired a new stake in Boardwalk Pipeline Partners during the fourth quarter worth approximately $114,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Boardwalk Pipeline Partners during the fourth quarter worth approximately $129,000. The Manufacturers Life Insurance Company raised its holdings in Boardwalk Pipeline Partners by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after purchasing an additional 494 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Boardwalk Pipeline Partners during the fourth quarter worth approximately $165,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Boardwalk Pipeline Partners during the fourth quarter worth approximately $168,000. 93.69% of the stock is currently owned by institutional investors.

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About Boardwalk Pipeline Partners

Boardwalk Pipeline Partners, LP, through its subsidiaries, owns and operates integrated natural gas and natural gas liquids and other hydrocarbons (NGLs) pipeline and storage systems in the United States. It operates interstate natural gas and NGLs pipeline systems, and integrated storage facilities, which are located in the Gulf Coast region, Oklahoma, Arkansas and the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio.

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