Traders Purchase Large Volume of Boardwalk Pipeline Partners Put Options (BWP)

Boardwalk Pipeline Partners, LP (NYSE:BWP) was the target of unusually large options trading activity on Monday. Traders acquired 3,203 put options on the stock. This is an increase of 1,560% compared to the average daily volume of 193 put options.

Several analysts have weighed in on the stock. UBS Group reissued a “buy” rating and issued a $18.00 price target (down from $22.00) on shares of Boardwalk Pipeline Partners in a research note on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $18.00 price objective on shares of Boardwalk Pipeline Partners in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Goldman Sachs Group began coverage on shares of 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. Finally, Citigroup lowered their price objective on shares of 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. 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 currently has a consensus rating of “Hold” and an average target price of $19.71.

Boardwalk Pipeline Partners (NYSE BWP) opened at $13.72 on Friday. The company has a market cap of $3,430.00, a PE ratio of 11.63 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. Boardwalk Pipeline Partners has a one year low of $12.79 and a one year high of $18.95.

Boardwalk Pipeline Partners (NYSE:BWP) last issued its quarterly earnings data on Monday, October 30th. The pipeline company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. The firm had revenue of $300.50 million during the quarter, compared to the consensus estimate of $324.85 million. Boardwalk Pipeline Partners had a net margin of 22.50% and a return on equity of 7.55%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. sell-side analysts predict that Boardwalk Pipeline Partners will post 1.41 EPS for the current year.

Several large investors have recently modified their holdings of the company. Alps Advisors Inc. raised its stake in shares of Boardwalk Pipeline Partners by 11.3% during the third quarter. Alps Advisors Inc. now owns 10,095,933 shares of the pipeline company’s stock valued at $148,410,000 after acquiring an additional 1,021,142 shares during the last quarter. FMR LLC increased its position in shares of Boardwalk Pipeline Partners by 8.8% during the second quarter. FMR LLC now owns 9,824,830 shares of the pipeline company’s stock valued at $176,945,000 after buying an additional 795,622 shares during the period. Maple Brown Abbott Ltd increased its position in shares of Boardwalk Pipeline Partners by 28.8% during the third quarter. Maple Brown Abbott Ltd now owns 5,193,027 shares of the pipeline company’s stock valued at $76,337,000 after buying an additional 1,162,584 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Boardwalk Pipeline Partners by 3.8% during the second quarter. Goldman Sachs Group Inc. now owns 3,806,459 shares of the pipeline company’s stock valued at $68,554,000 after buying an additional 140,629 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Boardwalk Pipeline Partners by 37.2% during the third quarter. JPMorgan Chase & Co. now owns 2,289,095 shares of the pipeline company’s stock valued at $33,421,000 after buying an additional 620,514 shares during the period. 97.18% of the stock is owned by hedge funds and other institutional investors.

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About Boardwalk Pipeline Partners

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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