Boardwalk Pipeline Partners (BWP) Reaches New 12-Month Low at $11.71

Boardwalk Pipeline Partners, LP (NYSE:BWP)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.71 and last traded at $11.63, with a volume of 1379560 shares traded. The stock had previously closed at $12.01.

BWP has been the topic of a number of recent research reports. Zacks Investment Research downgraded Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Citigroup decreased their price objective on Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Goldman Sachs Group began coverage on Boardwalk Pipeline Partners in a research note on Friday, November 17th. They set a “sell” rating and a $14.00 price objective for the company. ValuEngine cut Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Credit Suisse Group began coverage on Boardwalk Pipeline Partners in a research note on Thursday, January 4th. They set a “neutral” rating and a $15.00 price objective for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Boardwalk Pipeline Partners currently has an average rating of “Hold” and a consensus price target of $19.25.

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $2,910.94, a P/E ratio of 9.76 and a beta of 0.60.

Several hedge funds and other institutional investors have recently modified their holdings of BWP. Magnolia Group LLC purchased a new stake in shares of Boardwalk Pipeline Partners during the 4th quarter worth $51,132,000. Maple Brown Abbott Ltd lifted its stake in shares of Boardwalk Pipeline Partners by 39.1% during the 4th quarter. Maple Brown Abbott Ltd now owns 7,224,294 shares of the pipeline company’s stock worth $93,266,000 after purchasing an additional 2,031,267 shares during the last quarter. Center Coast Capital Advisors LP lifted its stake in shares of Boardwalk Pipeline Partners by 74,628.0% during the 4th quarter. Center Coast Capital Advisors LP now owns 1,398,908 shares of the pipeline company’s stock worth $18,060,000 after purchasing an additional 1,397,036 shares during the last quarter. Schroder Investment Management Group raised its stake in Boardwalk Pipeline Partners by 107.4% in the fourth quarter. Schroder Investment Management Group now owns 2,066,300 shares of the pipeline company’s stock valued at $26,676,000 after buying an additional 1,070,217 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in Boardwalk Pipeline Partners by 11.3% in the third quarter. Alps Advisors Inc. now owns 10,095,933 shares of the pipeline company’s stock valued at $148,410,000 after buying an additional 1,021,142 shares during the last quarter. Hedge funds and other institutional investors 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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