Boardwalk Pipeline Partners Given New $30.00 Price Target at RBC Capital (BWP)
Research analysts at RBC Capital reduced their price target on shares of Boardwalk Pipeline Partners (NYSE:BWP) from $31.00 to $30.00 in a report released on Tuesday, ARN reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective points to a potential downside of 0.43% from the stock’s previous close.
Boardwalk Pipeline Partners (NYSE:BWP) traded up 0.60% on Tuesday, hitting $30.13. 542,374 shares of the company’s stock traded hands. Boardwalk Pipeline Partners has a one year low of $23.55 and a one year high of $33.00. The stock has a 50-day moving average of $30.56 and a 200-day moving average of $30.49. The company has a market cap of $7.328 billion and a price-to-earnings ratio of 24.17.
Boardwalk Pipeline Partners (NYSE:BWP) last announced its earnings results on Monday, October 28th. The company reported $0.21 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.26 by $0.05. The company had revenue of $275.50 million for the quarter, compared to the consensus estimate of $294.95 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts expect that Boardwalk Pipeline Partners will post $1.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 14th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. This represents a $2.13 annualized dividend and a dividend yield of 7.07%. The ex-dividend date is Tuesday, November 5th.
BWP has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Boardwalk Pipeline Partners from a “neutral” rating to an “underweight” rating in a research note to investors on Monday, October 28th. Separately, analysts at Zacks upgraded shares of Boardwalk Pipeline Partners from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, October 25th. They now have a $32.40 price target on the stock. Finally, analysts at Zacks downgraded shares of Boardwalk Pipeline Partners from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, September 26th. They now have a $28.90 price target on the stock. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $30.48.
Boardwalk Pipeline Partners, LP owns and operates the business conducted by Boardwalk Pipelines, LP (NYSE:BWP) and its subsidiaries, Gulf Crossing Pipeline Company LLC (Gulf Crossing), Gulf South Pipeline Company, LP (Gulf South) and Texas Gas Transmission, LLC (Texas Gas).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.