Boardwalk Pipeline Partners,’s (BWP) “Outperform” Rating Reiterated at Wells Fargo & Co
Boardwalk Pipeline Partners, LP (NYSE:BWP)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wells Fargo & Co in a note issued to investors on Tuesday, May 9th. They presently have a $35.00 price objective on the pipeline company’s stock. Wells Fargo & Co’s price target suggests a potential upside of 93.91% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on the stock. Royal Bank of Canada reiterated a “buy” rating and set a $21.00 price target on shares of Boardwalk Pipeline Partners, in a research report on Tuesday, March 14th. TheStreet upgraded shares of Boardwalk Pipeline Partners, from a “c+” rating to a “b-” rating in a report on Thursday, March 9th. Finally, Zacks Investment Research upgraded shares of Boardwalk Pipeline Partners, from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Thursday, April 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Boardwalk Pipeline Partners, presently has an average rating of “Hold” and an average price target of $21.29.
Boardwalk Pipeline Partners, (NYSE:BWP) traded up 2.11% during mid-day trading on Tuesday, hitting $18.43. 174,320 shares of the stock were exchanged. The company’s 50-day moving average price is $18.24 and its 200 day moving average price is $17.88. Boardwalk Pipeline Partners, has a 52 week low of $15.97 and a 52 week high of $18.95. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 14.69 and a beta of 0.75.
Boardwalk Pipeline Partners, (NYSE:BWP) last announced its quarterly earnings results on Monday, May 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Boardwalk Pipeline Partners, had a net margin of 23.12% and a return on equity of 6.81%. The business had revenue of $367 million during the quarter, compared to analysts’ expectations of $354.09 million. During the same period last year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts expect that Boardwalk Pipeline Partners, will post $1.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 18th. Stockholders of record on Thursday, May 11th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 2.22%. Boardwalk Pipeline Partners,’s dividend payout ratio is presently 33.33%.
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Several hedge funds have recently modified their holdings of BWP. Advisory Services Network LLC bought a new stake in shares of Boardwalk Pipeline Partners, during the first quarter valued at $117,000. Berkley W R Corp acquired a new stake in Boardwalk Pipeline Partners, during the fourth quarter valued at approximately $204,000. Sheaff Brock Investment Advisors LLC increased its stake in Boardwalk Pipeline Partners, by 0.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,210 shares of the pipeline company’s stock valued at $205,000 after buying an additional 31 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in Boardwalk Pipeline Partners, during the first quarter valued at approximately $230,000. Finally, Stifel Financial Corp acquired a new stake in Boardwalk Pipeline Partners, during the first quarter valued at approximately $243,000. Institutional investors and hedge funds own 92.58% of the company’s stock.
Boardwalk Pipeline Partners, Company Profile
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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