Spirit of America Management Corp NY increased its position in shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) by 13.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 589,300 shares of the company’s stock after buying an additional 70,100 shares during the period. Boardwalk Pipeline Partners, comprises approximately 1.3% of Spirit of America Management Corp NY’s portfolio, making the stock its 20th largest position. Spirit of America Management Corp NY owned 0.24% of Boardwalk Pipeline Partners, worth $10,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Creative Planning increased its stake in shares of Boardwalk Pipeline Partners, by 16.2% in the third quarter. Creative Planning now owns 14,408 shares of the company’s stock valued at $247,000 after buying an additional 2,004 shares during the last quarter. Maple Brown Abbott Ltd increased its stake in shares of Boardwalk Pipeline Partners, by 109.2% in the third quarter. Maple Brown Abbott Ltd now owns 2,295,818 shares of the company’s stock valued at $39,396,000 after buying an additional 1,198,435 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of 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 during the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of Boardwalk Pipeline Partners, during the third quarter valued at $209,000. Finally, Royal Bank of Canada increased its stake in shares of 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 during the last quarter.

Institutional Ownership by Quarter for Boardwalk Pipeline Partners, (NYSE:BWP)

Shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) traded up 1.74% during midday trading on Friday, hitting $16.99. The stock had a trading volume of 566,419 shares. The stock has a 50 day moving average price of $16.73 and a 200-day moving average price of $16.64. Boardwalk Pipeline Partners, LP has a 52 week low of $8.86 and a 52 week high of $18.16. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 16.04 and a beta of 0.80.

Boardwalk Pipeline Partners, (NYSE:BWP) last issued its earnings results on Monday, August 1st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. The company earned $306.30 million during the quarter, compared to analyst estimates of $299.35 million. During the same period in the previous year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Boardwalk Pipeline Partners, LP will post $1.16 earnings per share for the current year.

Several brokerages have weighed in on BWP. Zacks Investment Research downgraded Boardwalk Pipeline Partners, from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Barclays PLC lifted their target price on Boardwalk Pipeline Partners, from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, August 2nd. Janney Montgomery Scott began coverage on Boardwalk Pipeline Partners, in a research note on Thursday, September 29th. They set a “neutral” rating and a $18.00 target price on the stock. Ladenburg Thalmann downgraded Boardwalk Pipeline Partners, from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Thursday, July 21st. Finally, Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Boardwalk Pipeline Partners, in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Boardwalk Pipeline Partners, presently has an average rating of “Hold” and an average target price of $18.43.

About Boardwalk Pipeline Partners,

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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