Analysts expect Boardwalk Pipeline Partners, LP (NYSE:BWP) to announce $350.84 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Boardwalk Pipeline Partners’ earnings. The lowest sales estimate is $348.13 million and the highest is $354.50 million. Boardwalk Pipeline Partners posted sales of $367.00 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.4%. The firm is scheduled to issue its next quarterly earnings results on Monday, May 7th.
On average, analysts expect that Boardwalk Pipeline Partners will report full-year sales of $350.84 million for the current financial year, with estimates ranging from $1.26 billion to $1.36 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.34 billion per share, with estimates ranging from $1.25 billion to $1.45 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Boardwalk Pipeline Partners.
Boardwalk Pipeline Partners (NYSE:BWP) last issued its quarterly earnings data on Monday, February 12th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.07). The business had revenue of $337.50 million for the quarter, compared to analyst estimates of $352.58 million. Boardwalk Pipeline Partners had a return on equity of 7.38% and a net margin of 22.46%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share.
Several equities analysts have recently issued reports on BWP shares. Goldman Sachs Group started coverage on Boardwalk Pipeline Partners in a research report on Friday, November 17th. They set a “sell” rating and a $14.00 price objective for the company. Credit Suisse Group started coverage on Boardwalk Pipeline Partners in a research report on Thursday, January 4th. They set a “neutral” rating and a $15.00 price objective for the company. Zacks Investment Research downgraded Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Barclays set a $14.00 price objective on Boardwalk Pipeline Partners and gave the stock a “hold” rating in a research report on Monday, February 12th. Finally, ValuEngine downgraded Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Three equities research 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 a consensus price target of $18.44.
Shares of Boardwalk Pipeline Partners (NYSE:BWP) traded down $0.21 during midday trading on Friday, hitting $11.30. The stock had a trading volume of 750,716 shares, compared to its average volume of 1,365,810. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market capitalization of $2,830.00, a P/E ratio of 9.74 and a beta of 0.66. Boardwalk Pipeline Partners has a fifty-two week low of $10.89 and a fifty-two week high of $18.79.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 22nd were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.40 annualized dividend and a yield of 3.54%. Boardwalk Pipeline Partners’s payout ratio is 34.48%.
A number of large investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its holdings in Boardwalk Pipeline Partners by 2.3% during the fourth quarter. Alps Advisors Inc. now owns 10,330,204 shares of the pipeline company’s stock worth $133,363,000 after purchasing an additional 234,271 shares in the last quarter. Maple Brown Abbott Ltd increased its holdings in shares of Boardwalk Pipeline Partners by 39.1% in the fourth quarter. Maple Brown Abbott Ltd now owns 7,224,294 shares of the pipeline company’s stock valued at $93,266,000 after buying an additional 2,031,267 shares in the last quarter. Magnolia Group LLC bought a new position in shares of Boardwalk Pipeline Partners in the fourth quarter valued at $51,132,000. Cushing Asset Management LP increased its holdings in shares of Boardwalk Pipeline Partners by 283.7% in the fourth quarter. Cushing Asset Management LP now owns 3,476,670 shares of the pipeline company’s stock valued at $44,884,000 after buying an additional 2,570,470 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Boardwalk Pipeline Partners by 13.2% in the fourth quarter. Bank of Montreal Can now owns 2,346,950 shares of the pipeline company’s stock valued at $30,299,000 after buying an additional 274,000 shares in the last quarter. 93.69% of the stock is currently 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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