Zacks Investment Research downgraded shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

According to Zacks, “Boardwalk Pipeline Partners LP is a master limited partnership engaged through its subsidiaries, Texas Gas Transmission, LLC and Gulf South Pipeline Company, LP, in the interstate transportation and storage of natural gas. “

BWP has been the subject of several other research reports. Ladenburg Thalmann downgraded Boardwalk Pipeline Partners, from a buy rating to a neutral rating and set a $17.00 price target for the company. in a research note on Thursday, July 21st. Credit Suisse Group AG reiterated a neutral rating on shares of Boardwalk Pipeline Partners, in a research note on Tuesday, August 16th. Janney Montgomery Scott assumed coverage on Boardwalk Pipeline Partners, in a research note on Thursday, September 29th. They set a neutral rating and a $18.00 price target for the company. Finally, Barclays PLC upped their price target on Boardwalk Pipeline Partners, from $15.00 to $16.00 and gave the stock an underweight rating in a research note on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $18.43.

Analyst Recommendations for Boardwalk Pipeline Partners, (NYSE:BWP)

Shares of Boardwalk Pipeline Partners, (NYSE:BWP) traded down 0.71% on Monday, hitting $16.75. The stock had a trading volume of 8,703 shares. Boardwalk Pipeline Partners, has a 1-year low of $8.86 and a 1-year high of $18.16. The stock has a market cap of $4.19 billion, a P/E ratio of 15.82 and a beta of 0.80. The firm’s 50-day moving average is $16.71 and its 200 day moving average is $16.63.

Boardwalk Pipeline Partners, (NYSE:BWP) last issued its earnings results on Monday, August 1st. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm earned $306.30 million during the quarter, compared to analysts’ expectations of $299.35 million. During the same quarter last year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts forecast that Boardwalk Pipeline Partners, will post $1.16 EPS for the current year.

Several large investors have recently added to or reduced their stakes in BWP. Advisory Services Network LLC raised its stake in Boardwalk Pipeline Partners, by 215.0% in the third quarter. Advisory Services Network LLC now owns 6,458 shares of the company’s stock valued at $111,000 after buying an additional 4,408 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in Boardwalk Pipeline Partners, during the third quarter valued at $209,000. Royal Bank of Canada raised its stake in Boardwalk Pipeline Partners, by 1.3% in the second quarter. Royal Bank of Canada now owns 393,387 shares of the company’s stock valued at $6,864,000 after buying an additional 5,016 shares in the last quarter. Harvest Fund Advisors LLC raised its stake in Boardwalk Pipeline Partners, by 30.4% in the second quarter. Harvest Fund Advisors LLC now owns 7,677,544 shares of the company’s stock valued at $133,973,000 after buying an additional 1,788,218 shares in the last quarter. Finally, Cohen & Steers Inc. raised its stake in Boardwalk Pipeline Partners, by 8,156.5% in the second quarter. Cohen & Steers Inc. now owns 51,190 shares of the company’s stock valued at $1,248,000 after buying an additional 50,570 shares in the last quarter.

Boardwalk Pipeline Partners, Company Profile

Boardwalk Pipeline Partners, LP is a limited partnership company. The Company conducts business through its primary subsidiary, Boardwalk Pipelines, LP, and its subsidiaries, Gulf South Pipeline Company, LP, Texas Gas Transmission, LLC, Gulf Crossing Pipeline Company LLC, Boardwalk Louisiana Midstream, LLC, Boardwalk Petrochemical Pipeline, LLC and Boardwalk Field Services, LLC.

5 Day Chart for NYSE:BWP

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