Boardwalk Pipeline Partners (BWP) Receives New Coverage from Analysts at Credit Suisse Group

Equities research analysts at Credit Suisse Group began coverage on shares of Boardwalk Pipeline Partners (NYSE:BWP) in a research note issued on Thursday. The brokerage set a “neutral” rating on the pipeline company’s stock.

Other research analysts also recently issued reports about the company. Royal Bank of Canada reissued a “hold” rating and issued a $18.00 price objective on shares of Boardwalk Pipeline Partners in a research note on Wednesday, September 6th. ValuEngine downgraded Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research note on Sunday. Zacks Investment Research raised Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Goldman Sachs Group assumed coverage on Boardwalk Pipeline Partners in a research note on Friday, November 17th. They issued a “sell” rating and a $14.00 price objective on the stock. Finally, UBS Group reaffirmed a “buy” rating and issued a $18.00 target price (down previously from $22.00) on shares of Boardwalk Pipeline Partners in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Boardwalk Pipeline Partners currently has an average rating of “Hold” and a consensus price target of $20.50.

Shares of Boardwalk Pipeline Partners (NYSE:BWP) traded up $0.11 during mid-day trading on Thursday, hitting $13.24. The company had a trading volume of 957,335 shares, compared to its average volume of 1,670,000. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.56 and a quick ratio of 0.56. Boardwalk Pipeline Partners has a 1-year low of $12.79 and a 1-year high of $18.95. The company has a market cap of $3,310.00, a P/E ratio of 11.22 and a beta of 0.72.

Boardwalk Pipeline Partners (NYSE:BWP) last issued its quarterly earnings data on Monday, October 30th. The pipeline company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Boardwalk Pipeline Partners had a return on equity of 7.55% and a net margin of 22.50%. The business had revenue of $300.50 million for the quarter, compared to the consensus estimate of $324.85 million. During the same period last year, the business earned $0.19 EPS. The firm’s revenue was down .9% compared to the same quarter last year. sell-side analysts predict that Boardwalk Pipeline Partners will post 1.41 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sheaff Brock Investment Advisors LLC grew its holdings in Boardwalk Pipeline Partners by 0.3% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock valued at $202,000 after buying an additional 31 shares during the last quarter. CNH Partners LLC grew its holdings in Boardwalk Pipeline Partners 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 buying an additional 100 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Boardwalk Pipeline Partners 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 buying an additional 494 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Boardwalk Pipeline Partners by 0.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 113,041 shares of the pipeline company’s stock valued at $2,036,000 after buying an additional 562 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Boardwalk Pipeline Partners by 0.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 110,753 shares of the pipeline company’s stock valued at $1,995,000 after buying an additional 641 shares during the last quarter. 97.18% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Boardwalk Pipeline Partners (NYSE:BWP)

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