ValuEngine downgraded shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) from a buy rating to a hold rating in a research note published on Friday.

A number of other research firms have also issued reports on BWP. Wells Fargo & Company reiterated an outperform rating and set a $35.00 target price on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, May 9th. BidaskClub lowered shares of Boardwalk Pipeline Partners L.P. from a hold rating to a sell rating in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a buy rating and set a $22.00 target price on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, June 6th. Finally, Zacks Investment Research upgraded shares of Boardwalk Pipeline Partners L.P. from a hold rating to a buy rating and set a $20.00 target price on the stock in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Boardwalk Pipeline Partners L.P. presently has an average rating of Hold and an average target price of $22.75.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) opened at 15.07 on Friday. Boardwalk Pipeline Partners L.P. has a one year low of $14.40 and a one year high of $18.95. The company’s 50-day moving average is $15.96 and its 200 day moving average is $17.48. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 13.81 and a beta of 0.78.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last released its earnings results on Monday, July 31st. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $317.60 million for the quarter, compared to analyst estimates of $315.12 million. Boardwalk Pipeline Partners L.P. had a return on equity of 7.14% and a net margin of 20.78%. Boardwalk Pipeline Partners L.P.’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 earnings per share. Equities analysts expect that Boardwalk Pipeline Partners L.P. will post $1.38 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.65%. Boardwalk Pipeline Partners L.P.’s payout ratio is 36.36%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Boardwalk Pipeline Partners L.P. by 0.3% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,210 shares of the pipeline company’s stock valued at $205,000 after purchasing an additional 31 shares in the last quarter. CNH Partners LLC raised its holdings in shares of Boardwalk Pipeline Partners L.P. by 0.3% in the 2nd quarter. CNH Partners LLC now owns 37,302 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 100 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Boardwalk Pipeline Partners L.P. by 0.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 52,691 shares of the pipeline company’s stock valued at $965,000 after purchasing an additional 335 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Boardwalk Pipeline Partners L.P. by 0.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 110,112 shares of the pipeline company’s stock valued at $2,016,000 after purchasing an additional 427 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Boardwalk Pipeline Partners L.P. by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock valued at $133,000 after purchasing an additional 494 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Boardwalk Pipeline Partners L.P. 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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