Royal Bank Of Canada reaffirmed their hold rating on shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) in a research note issued to investors on Tuesday. Royal Bank Of Canada currently has a $18.00 price objective on the pipeline company’s stock.

Several other brokerages have also recently weighed in on BWP. UBS AG reissued a buy rating and set a $18.00 target price (down previously from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a research report on Wednesday, October 4th. ValuEngine cut shares of Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a research report on Friday, September 1st. BidaskClub cut shares of Boardwalk Pipeline Partners L.P. from a sell rating to a strong sell rating in a research report on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Boardwalk Pipeline Partners L.P. currently has an average rating of Hold and a consensus target price of $22.75.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its quarterly earnings results on Monday, July 31st. The pipeline company reported $0.28 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $317.60 million for the quarter, compared to analyst estimates of $315.12 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in Boardwalk Pipeline Partners L.P. by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after purchasing an additional 494 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Boardwalk Pipeline Partners L.P. by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 31 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in Boardwalk Pipeline Partners L.P. in the second quarter worth $211,000. BNP Paribas Arbitrage SA bought a new stake in Boardwalk Pipeline Partners L.P. in the first quarter worth $230,000. Finally, Creative Planning lifted its stake in Boardwalk Pipeline Partners L.P. by 6.5% in the second quarter. Creative Planning now owns 13,072 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 800 shares during the last quarter. 94.04% of the stock is owned by institutional investors.

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.

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