Pointe Capital Management LLC Sells 21,406 Shares of Boardwalk Pipeline Partners, LP (BWP)

Pointe Capital Management LLC lessened its holdings in Boardwalk Pipeline Partners, LP (NYSE:BWP) by 27.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,520 shares of the pipeline company’s stock after selling 21,406 shares during the quarter. Pointe Capital Management LLC’s holdings in Boardwalk Pipeline Partners were worth $730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. GSA Capital Partners LLP grew its position in Boardwalk Pipeline Partners by 151.5% in the 3rd quarter. GSA Capital Partners LLP now owns 37,988 shares of the pipeline company’s stock valued at $558,000 after acquiring an additional 22,884 shares during the last quarter. Neuberger Berman Group LLC grew its position in Boardwalk Pipeline Partners by 60.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 181,391 shares of the pipeline company’s stock valued at $2,666,000 after acquiring an additional 68,350 shares during the last quarter. Castleton Investment Management LLC grew its position in Boardwalk Pipeline Partners by 9.2% in the 3rd quarter. Castleton Investment Management LLC now owns 201,000 shares of the pipeline company’s stock valued at $2,955,000 after acquiring an additional 17,000 shares during the last quarter. BB&T Securities LLC grew its position in Boardwalk Pipeline Partners by 36.5% in the 3rd quarter. BB&T Securities LLC now owns 30,160 shares of the pipeline company’s stock valued at $443,000 after acquiring an additional 8,060 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in Boardwalk Pipeline Partners in the 3rd quarter valued at $847,000. 97.18% of the stock is currently owned by institutional investors.

Boardwalk Pipeline Partners, LP (NYSE BWP) traded up $0.03 on Friday, hitting $13.72. The stock had a trading volume of 2,100,000 shares, compared to its average volume of 1,680,000. Boardwalk Pipeline Partners, LP has a fifty-two week low of $12.79 and a fifty-two week high of $18.95. 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 company has a market cap of $3,430.00, a P/E ratio of 11.63 and a beta of 0.72.

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

BWP has been the topic of several research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $18.00 price objective (down previously from $22.00) on shares of Boardwalk Pipeline Partners in a research report on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Boardwalk Pipeline Partners in a research report on Tuesday, October 10th. Zacks Investment Research downgraded Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Citigroup cut their price objective on 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, Goldman Sachs Group initiated coverage on Boardwalk Pipeline Partners in a research report on Friday, November 17th. They issued a “sell” rating and a $14.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Boardwalk Pipeline Partners presently has a consensus rating of “Hold” and an average price target of $19.71.

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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.

Institutional Ownership by Quarter for Boardwalk Pipeline Partners (NYSE:BWP)

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