Boardwalk Pipeline Partners L.P. (NYSE: BWP) shares rose on Tuesday February 7 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
U.S. stocks were up in early trade on Tuesday which could put the equity market on track to set new records.
Investors were focusing on earnings, with GM and Michael Kors making moves after reporting early.
S&P 500 futures ESH7, +0.31% rose 7 points, or 0.3%, to 2,293.50, while Dow Jones Industrial Average futures YMH7, +0.46% tacked on 70 points, or 0.4%, to 20,042. Nasdaq-100 futures NQH7, +0.48% added 14 points, or 0.3%, to 5,171.75.
Boardwalk Pipeline Partners L.P. (NYSE: BWP) had its Buy rating reiterated by equities researchers at RBC Capital Markets in a research note to investors. With a rating of Buy on the shares, the company has a 52-week high of $18.95. The one-year price target of $20.27 is above the opening price of $18.75, causing a number of other analysts to report on the company recently. Share prices sometimes get a jump to the upside when analysts reiterate coverage.
Shares of Boardwalk Pipeline Partners L.P. (NYSE: BWP) opened at $18.75 yesterday trading between $18.62 and $18.90, and last traded at $18.76, an increase of $0.09 over the previous closing price.
Boardwalk Pipeline Partners L.P. (NYSE: BWP) now has a market cap of 4.70B.
Boardwalk Pipeline Partners L.P. (NYSE: BWP) Average Daily Trading Volume
68,984 shares crossed the trading desk yesterday, 104 percent below the norm, out of a total float 124,480,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Boardwalk Pipeline Partners L.P. (NYSE: BWP) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for Boardwalk Pipeline Partners L.P. (NYSE: BWP) have ranged from $10.55 – 18.95, and the stock now has a 50-day MA of $18.19 and 200-day MA of $17.18. Today’s last price is 1.00%% lower than the 52 week high of $18.95.
Earnings growth is a critical factor to look at when investing in stocks and investors seek companies that have increased their earnings by at least 25% over the past 3 years.
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