Boardwalk Pipeline Partners (NYSE:BWP) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, April 11th.
BWP has been the subject of a number of other reports. Barclays set a $14.00 price target on Boardwalk Pipeline Partners and gave the company a “hold” rating in a research report on Monday, February 12th. Credit Suisse Group initiated coverage on Boardwalk Pipeline Partners in a research report on Thursday, January 4th. They issued a “neutral” rating and a $15.00 price target for the company. Bank of America initiated coverage on Boardwalk Pipeline Partners in a research report on Tuesday, January 9th. They set a “buy” rating for the company. TheStreet lowered Boardwalk Pipeline Partners from a “b-” rating to a “c+” rating in a research report on Friday, January 19th. Finally, Zacks Investment Research lowered Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Boardwalk Pipeline Partners presently has a consensus rating of “Hold” and a consensus price target of $18.22.
NYSE BWP opened at $10.85 on Wednesday. The firm has a market capitalization of $2,748.25, a P/E ratio of 8.13 and a beta of 0.66. Boardwalk Pipeline Partners has a 12 month low of $9.85 and a 12 month high of $18.79. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.78.
Boardwalk Pipeline Partners (NYSE:BWP) last released its quarterly earnings results on Monday, February 12th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The company had revenue of $337.50 million during the quarter, compared to analysts’ expectations of $352.58 million. Boardwalk Pipeline Partners had a net margin of 22.46% and a return on equity of 7.38%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. equities analysts expect that Boardwalk Pipeline Partners will post 1.21 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new position in shares of Boardwalk Pipeline Partners during the 4th quarter worth $114,000. Sheaff Brock Investment Advisors LLC bought a new position in shares of Boardwalk Pipeline Partners during the 4th quarter worth $129,000. The Manufacturers Life Insurance Company grew its stake in shares of Boardwalk Pipeline Partners by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after acquiring an additional 494 shares during the period. Icon Wealth Partners LLC bought a new position in shares of Boardwalk Pipeline Partners during the 4th quarter worth $165,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Boardwalk Pipeline Partners during the 4th quarter worth $168,000. 93.69% of the stock is owned by hedge funds and other institutional investors.
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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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