Boardwalk Pipeline Partners Rating Increased to Buy at Citigroup Inc. (BWP)
Boardwalk Pipeline Partners (NYSE:BWP) was upgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, American Banking & Market News reports.
A number of other analysts have also recently weighed in on BWP. Analysts at Janney Montgomery Scott downgraded shares of Boardwalk Pipeline Partners from a “buy” rating to a “neutral” rating in a research note on Tuesday. Separately, analysts at Deutsche Bank downgraded shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Monday. Finally, analysts at Credit Suisse downgraded shares of Boardwalk Pipeline Partners from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $20.00 price target on the stock, down previously from $32.00. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Boardwalk Pipeline Partners has an average rating of “Hold” and a consensus price target of $25.43.
Boardwalk Pipeline Partners (NYSE:BWP) opened at 13.01 on Tuesday. Boardwalk Pipeline Partners has a 52-week low of $12.79 and a 52-week high of $33.00. The stock’s 50-day moving average is $24.47 and its 200-day moving average is $27.95. The company has a market cap of $3.164 billion and a price-to-earnings ratio of 10.68.
Boardwalk Pipeline Partners (NYSE:BWP) last released its earnings data on Monday, February 10th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.23. The company had revenue of $312.90 million for the quarter, compared to the consensus estimate of $323.28 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, analysts predict that Boardwalk Pipeline Partners will post $1.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 27th. Investors of record on Thursday, February 20th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.07%.
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).
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