Royal Bank of Canada decreased its holdings in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 356,109 shares of the pipeline company’s stock after selling 14,492 shares during the period. Royal Bank of Canada owned about 0.14% of Boardwalk Pipeline Partners L.P. worth $6,413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BWP. Balyasny Asset Management LLC increased its stake in Boardwalk Pipeline Partners L.P. by 202.8% in the second quarter. Balyasny Asset Management LLC now owns 1,285,544 shares of the pipeline company’s stock worth $23,153,000 after purchasing an additional 861,044 shares during the period. FMR LLC increased its stake in Boardwalk Pipeline Partners L.P. by 8.8% in the second quarter. FMR LLC now owns 9,824,830 shares of the pipeline company’s stock worth $176,945,000 after purchasing an additional 795,622 shares during the period. Kayne Anderson Capital Advisors LP increased its stake in Boardwalk Pipeline Partners L.P. by 83.7% in the second quarter. Kayne Anderson Capital Advisors LP now owns 1,661,100 shares of the pipeline company’s stock worth $29,908,000 after purchasing an additional 757,000 shares during the period. Maple Brown Abbott Ltd increased its stake in Boardwalk Pipeline Partners L.P. by 14.8% in the second quarter. Maple Brown Abbott Ltd now owns 4,030,443 shares of the pipeline company’s stock worth $72,588,000 after purchasing an additional 519,935 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new stake in Boardwalk Pipeline Partners L.P. in the second quarter worth $8,113,000. Institutional investors and hedge funds own 94.04% of the company’s stock.

Shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) opened at 14.62 on Friday. The company has a market cap of $3.66 billion, a P/E ratio of 13.40 and a beta of 0.77. The company’s 50-day moving average price is $14.89 and its 200-day moving average price is $16.72. Boardwalk Pipeline Partners L.P. has a 12 month low of $14.25 and a 12 month high of $18.95.

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 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 analysts’ expectations of $315.12 million. During the same quarter last year, the company earned $0.26 EPS. Boardwalk Pipeline Partners L.P.’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts forecast that Boardwalk Pipeline Partners L.P. will post $1.46 EPS for the current fiscal year.

A number of analysts have weighed in on BWP shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $18.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research note on Tuesday, October 10th. BidaskClub lowered Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. ValuEngine lowered Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. UBS AG reiterated a “buy” rating and issued a $18.00 target price (down previously from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a research note on Wednesday, October 4th. Finally, Zacks Investment Research upgraded 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 research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Boardwalk Pipeline Partners L.P. has an average rating of “Hold” and a consensus target price of $22.75.

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About Boardwalk Pipeline Partners L.P.

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

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