Brokerages expect Boardwalk Pipeline Partners (NYSE:BWP) to announce $0.25 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Boardwalk Pipeline Partners’ earnings. The highest EPS estimate is $0.30 and the lowest is $0.20. Boardwalk Pipeline Partners posted earnings per share of $0.28 in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.7%. The company is expected to announce its next earnings results on Monday, July 30th.
According to Zacks, analysts expect that Boardwalk Pipeline Partners will report full-year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.11 to $1.21. For the next year, analysts expect that the company will post earnings of $1.01 per share, with EPS estimates ranging from $0.82 to $1.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Boardwalk Pipeline Partners.
Boardwalk Pipeline Partners (NYSE:BWP) last posted its quarterly earnings results on Monday, April 30th. The pipeline company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.01). Boardwalk Pipeline Partners had a return on equity of 6.85% and a net margin of 21.29%. The company had revenue of $335.40 million for the quarter, compared to analysts’ expectations of $345.22 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm’s revenue was down 8.6% on a year-over-year basis.
Several brokerages recently issued reports on BWP. Zacks Investment Research upgraded shares of Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a report on Thursday, May 3rd. ValuEngine lowered shares of Boardwalk Pipeline Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Barclays reduced their price objective on shares of Boardwalk Pipeline Partners from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Monday, April 30th. US Capital Advisors lowered shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a report on Tuesday, May 1st. Finally, Bank of America reduced their price objective on shares of Boardwalk Pipeline Partners from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 27th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.88.
Shares of NYSE BWP traded up $0.13 during trading on Thursday, hitting $11.05. 105,025 shares of the company were exchanged, compared to its average volume of 3,064,373. The firm has a market cap of $2.69 billion, a PE ratio of 8.23 and a beta of 0.64. Boardwalk Pipeline Partners has a 12-month low of $9.10 and a 12-month high of $18.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.77.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 17th. Shareholders of record on Thursday, May 10th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.62%. The ex-dividend date was Wednesday, May 9th. Boardwalk Pipeline Partners’s dividend payout ratio is currently 29.63%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BWP. Bank of Montreal Can grew its position in Boardwalk Pipeline Partners by 13.2% in the 4th quarter. Bank of Montreal Can now owns 2,346,950 shares of the pipeline company’s stock valued at $30,299,000 after acquiring an additional 274,000 shares in the last quarter. Maple Brown Abbott Ltd grew its position in Boardwalk Pipeline Partners by 39.1% in the 4th quarter. Maple Brown Abbott Ltd now owns 7,224,294 shares of the pipeline company’s stock valued at $93,266,000 after acquiring an additional 2,031,267 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in Boardwalk Pipeline Partners in the 4th quarter valued at about $114,000. Center Coast Capital Advisors LP grew its position in Boardwalk Pipeline Partners by 74,628.0% in the 4th quarter. Center Coast Capital Advisors LP now owns 1,398,908 shares of the pipeline company’s stock valued at $18,060,000 after acquiring an additional 1,397,036 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in Boardwalk Pipeline Partners by 2.3% in the 4th quarter. Alps Advisors Inc. now owns 10,330,204 shares of the pipeline company’s stock valued at $133,363,000 after acquiring an additional 234,271 shares in the last quarter. 93.61% of the stock is owned by institutional investors.
About Boardwalk Pipeline Partners
Boardwalk Pipeline Partners, LP, through its subsidiaries, owns and operates integrated natural gas and natural gas liquids and other hydrocarbons (NGLs) pipeline and storage systems in the United States. It operates interstate natural gas and NGLs pipeline systems, and integrated storage facilities, which are located in the Gulf Coast region, Oklahoma, Arkansas and the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio.
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