Boardwalk Pipeline Partners L.P. (BWP) Shares Bought by Morgan Stanley

Morgan Stanley increased its position in shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,925,784 shares of the pipeline company’s stock after buying an additional 447,888 shares during the period. Morgan Stanley owned 3.57% of Boardwalk Pipeline Partners L.P. worth $163,432,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BWP. RMB Capital Management LLC purchased a new stake in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth approximately $1,668,000. Snow Capital Management LP raised its stake in shares of Boardwalk Pipeline Partners L.P. by 2.2% in the first quarter. Snow Capital Management LP now owns 51,097 shares of the pipeline company’s stock worth $936,000 after buying an additional 1,090 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth approximately $12,704,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth approximately $12,704,000. Finally, Global X Management Co. LLC raised its stake in shares of Boardwalk Pipeline Partners L.P. by 16.3% in the first quarter. Global X Management Co. LLC now owns 601,593 shares of the pipeline company’s stock worth $11,015,000 after buying an additional 84,419 shares during the last quarter. 99.06% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Boardwalk Pipeline Partners L.P. (NYSE:BWP)

Shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) traded down 1.70% on Tuesday, reaching $16.79. The company’s stock had a trading volume of 677,590 shares. The firm’s 50 day moving average is $17.94 and its 200-day moving average is $18.07. The stock has a market cap of $4.20 billion, a P/E ratio of 13.38 and a beta of 0.80. Boardwalk Pipeline Partners L.P. has a 52-week low of $15.97 and a 52-week high of $18.95.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its earnings results on Monday, May 1st. The pipeline company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. Boardwalk Pipeline Partners L.P. had a return on equity of 7.10% and a net margin of 24.11%. The business had revenue of $367 million for the quarter, compared to the consensus estimate of $354.09 million. During the same period last year, the business posted $0.40 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Boardwalk Pipeline Partners L.P. will post $1.36 EPS for the current year.

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BWP has been the topic of several recent analyst reports. ValuEngine cut Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, April 13th. Royal Bank Of Canada restated a “buy” rating and issued a $21.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research note on Thursday, April 13th. TheStreet upgraded Boardwalk Pipeline Partners L.P. from a “c+” rating to a “b-” rating in a research note on Thursday, March 9th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $35.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research note on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.50.

Boardwalk Pipeline Partners L.P. 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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