Zacks: Brokerages Expect Boardwalk Pipeline Partners, LP (BWP) Will Post Quarterly Sales of $358.74 Million

Analysts forecast that Boardwalk Pipeline Partners, LP (NYSE:BWP) will post sales of $358.74 million for the current quarter, according to Zacks. Four analysts have issued estimates for Boardwalk Pipeline Partners’ earnings, with the lowest sales estimate coming in at $341.45 million and the highest estimate coming in at $374.80 million. Boardwalk Pipeline Partners posted sales of $352.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.7%. The company is scheduled to report its next quarterly earnings results before the market opens on Monday, February 12th.

On average, analysts expect that Boardwalk Pipeline Partners will report full-year sales of $358.74 million for the current year, with estimates ranging from $1.33 billion to $1.36 billion. For the next fiscal year, analysts expect that the business will post sales of $1.35 billion per share, with estimates ranging from $1.27 billion to $1.42 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Boardwalk Pipeline Partners.

A number of brokerages have issued reports on BWP. ValuEngine lowered shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays upgraded shares of Boardwalk Pipeline Partners from an “underweight” rating to an “equal weight” rating and set a $16.00 target price on the stock in a research report on Wednesday, January 17th. TheStreet lowered shares of Boardwalk Pipeline Partners from a “b-” rating to a “c+” rating in a research report on Friday, January 19th. Citigroup reduced their price target on shares of Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Finally, Bank of America began coverage on shares of Boardwalk Pipeline Partners in a research report on Tuesday, January 9th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $19.25.

Shares of Boardwalk Pipeline Partners (BWP) traded down $0.01 during trading hours on Monday, hitting $12.00. 955,669 shares of the company’s stock were exchanged, compared to its average volume of 1,335,280. Boardwalk Pipeline Partners has a 1 year low of $11.72 and a 1 year high of $18.94. The firm has a market cap of $3,028.58, a price-to-earnings ratio of 10.05 and a beta of 0.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in shares of Boardwalk Pipeline Partners by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after acquiring an additional 494 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Boardwalk Pipeline Partners during the 4th quarter worth approximately $114,000. Cetera Investment Advisers acquired a new stake in shares of Boardwalk Pipeline Partners during the 2nd quarter worth approximately $248,000. Clinton Group Inc. acquired a new stake in shares of Boardwalk Pipeline Partners during the 2nd quarter worth approximately $298,000. Finally, BB&T Securities LLC boosted its position in shares of 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 acquiring an additional 8,060 shares in the last quarter. Institutional investors and hedge funds own 98.06% of the company’s stock.

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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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