Boardwalk Pipeline Partners (BWP) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Boardwalk Pipeline Partners (NYSE:BWP) in a report released on Tuesday, The Fly reports. The brokerage set a “buy” rating on the pipeline company’s stock.

BWP has been the subject of several other reports. Citigroup reduced their price target on Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. UBS Group reissued a “buy” rating and issued a $18.00 price target (down from $22.00) on shares of Boardwalk Pipeline Partners in a research report on Wednesday, October 4th. Credit Suisse Group started coverage on Boardwalk Pipeline Partners in a research report on Thursday, January 4th. They issued a “neutral” rating and a $15.00 price target for the company. Goldman Sachs Group started coverage on Boardwalk Pipeline Partners in a research report on Friday, November 17th. They issued a “sell” rating and a $14.00 price target for the company. Finally, Zacks Investment Research lowered Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Two equities 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 company. The company currently has a consensus rating of “Hold” and an average price target of $19.71.

Boardwalk Pipeline Partners (BWP) opened at $13.07 on Tuesday. The company has a market capitalization of $3,290.00, a price-to-earnings ratio of 11.08 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.56 and a quick ratio of 0.56. Boardwalk Pipeline Partners has a 1 year low of $12.79 and a 1 year high of $18.95.

Boardwalk Pipeline Partners (NYSE:BWP) last released its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $300.50 million during the quarter, compared to analyst estimates of $324.85 million. Boardwalk Pipeline Partners had a return on equity of 7.55% and a net margin of 22.50%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 EPS. research analysts anticipate that Boardwalk Pipeline Partners will post 1.41 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP grew its stake in Boardwalk Pipeline Partners by 151.5% during the 3rd quarter. GSA Capital Partners LLP now owns 37,988 shares of the pipeline company’s stock worth $558,000 after buying an additional 22,884 shares during the last quarter. Neuberger Berman Group LLC grew its stake in Boardwalk Pipeline Partners by 60.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 181,391 shares of the pipeline company’s stock worth $2,666,000 after buying an additional 68,350 shares during the last quarter. Castleton Investment Management LLC grew its stake in Boardwalk Pipeline Partners by 9.2% during the 3rd quarter. Castleton Investment Management LLC now owns 201,000 shares of the pipeline company’s stock worth $2,955,000 after buying an additional 17,000 shares during the last quarter. BB&T Securities LLC grew its stake in Boardwalk Pipeline Partners by 36.5% during the 3rd quarter. BB&T Securities LLC now owns 30,160 shares of the pipeline company’s stock worth $443,000 after buying an additional 8,060 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in Boardwalk Pipeline Partners during the 3rd quarter worth $847,000. Hedge funds and other 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.

The Fly

Analyst Recommendations for Boardwalk Pipeline Partners (NYSE:BWP)

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