First Trust Advisors LP lessened its stake in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 73.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,788 shares of the pipeline company’s stock after selling 216,944 shares during the quarter. First Trust Advisors LP’s holdings in Boardwalk Pipeline Partners L.P. were worth $1,437,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BWP. Russell Investments Group Ltd. boosted its holdings in shares of Boardwalk Pipeline Partners L.P. by 7.2% in the 1st quarter. Russell Investments Group Ltd. now owns 548,739 shares of the pipeline company’s stock valued at $10,051,000 after buying an additional 36,791 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Boardwalk Pipeline Partners L.P. by 347.7% in the 1st quarter. US Bancorp DE now owns 19,251 shares of the pipeline company’s stock valued at $353,000 after buying an additional 14,951 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Boardwalk Pipeline Partners L.P. in the 1st quarter valued at approximately $230,000. Ameriprise Financial Inc. boosted its holdings in shares of Boardwalk Pipeline Partners L.P. by 4.8% in the 1st quarter. Ameriprise Financial Inc. now owns 169,029 shares of the pipeline company’s stock valued at $3,095,000 after buying an additional 7,760 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted 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 buying an additional 427 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Shares of Boardwalk Pipeline Partners L.P. (BWP) opened at 14.83 on Friday. The firm has a market cap of $3.71 billion, a P/E ratio of 13.59 and a beta of 0.78. The firm’s 50-day moving average price is $15.30 and its 200 day moving average price is $17.26. Boardwalk Pipeline Partners L.P. has a one year low of $14.40 and a one year high of $18.95.

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

BWP has been the subject of several recent analyst reports. ValuEngine downgraded Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, July 3rd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $18.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Boardwalk Pipeline Partners L.P. has a consensus rating of “Hold” and an average target price of $22.75.

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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.

Institutional Ownership by Quarter for Boardwalk Pipeline Partners L.P. (NYSE:BWP)

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