ValuEngine Downgrades Boardwalk Pipeline Partners L.P. (BWP) to Hold

ValuEngine downgraded shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) from a buy rating to a hold rating in a report issued on Friday, September 1st.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a research note on Tuesday, August 1st. Royal Bank Of Canada downgraded shares of Boardwalk Pipeline Partners L.P. from an outperform rating to a sector perform rating and decreased their target price for the company from $22.00 to $18.00 in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Boardwalk Pipeline Partners L.P. from a hold rating to a sell rating in a research note on Thursday, June 22nd. Finally, Wells Fargo & Company 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Boardwalk Pipeline Partners L.P. presently has an average rating of Hold and a consensus price target of $22.75.

Boardwalk Pipeline Partners L.P. (NYSE BWP) opened at 14.83 on Friday. The company has a 50-day moving average price of $15.30 and a 200 day moving average price of $17.26. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 13.59 and a beta of 0.78. Boardwalk Pipeline Partners L.P. has a 52-week low of $14.40 and a 52-week high of $18.95.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last released its quarterly earnings data on Monday, July 31st. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). Boardwalk Pipeline Partners L.P. had a return on equity of 7.14% and a net margin of 20.78%. The business had revenue of $317.60 million for the quarter, compared to analysts’ expectations of $315.12 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Boardwalk Pipeline Partners L.P.’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts expect that Boardwalk Pipeline Partners L.P. will post $1.38 earnings per share for the current year.

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Several large investors have recently modified their holdings of BWP. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth $16,547,000. Balyasny Asset Management LLC raised its holdings in shares of Boardwalk Pipeline Partners L.P. by 202.8% during the second quarter. Balyasny Asset Management LLC now owns 1,285,544 shares of the pipeline company’s stock worth $23,153,000 after purchasing an additional 861,044 shares during the period. FMR LLC raised its holdings in shares of Boardwalk Pipeline Partners L.P. by 8.8% during the second quarter. FMR LLC now owns 9,824,830 shares of the pipeline company’s stock worth $176,945,000 after purchasing an additional 795,622 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth $12,704,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth $12,704,000. 94.05% of the stock is currently owned by institutional investors.

About Boardwalk Pipeline Partners L.P.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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