Boardwalk Pipeline Partners, Stock Rating Upgraded by Morgan Stanley (BWP)
Boardwalk Pipeline Partners, (NYSE:BWP) was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, American Banking and Market News reports. The firm currently has a $17.00 target price on the stock, up from their previous target price of $14.00. Morgan Stanley’s target price suggests a potential upside of 5.00% from the stock’s previous close.
A number of other analysts have also recently weighed in on BWP. Analysts at Raymond James upgraded shares of Boardwalk Pipeline Partners, from an “underperform” rating to a “market perform” rating in a research note on Tuesday. Separately, analysts at Credit Suisse upgraded shares of Boardwalk Pipeline Partners, from an “underperform” rating to an “outperform” rating in a research note on Tuesday. They now have a $20.00 price target on the stock, up previously from $15.00. Finally, analysts at RBC Capital upgraded shares of Boardwalk Pipeline Partners, from a “sector perform” rating to an “outperform” rating in a research note on Monday, April 21st. They now have a $22.00 price target on the stock, up previously from $14.00. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Boardwalk Pipeline Partners, presently has a consensus rating of “Hold” and an average target price of $17.93.
Shares of Boardwalk Pipeline Partners, (NYSE:BWP) traded up 1.70% during mid-day trading on Tuesday, hitting $16.465. 1,758,208 shares of the company’s stock traded hands. Boardwalk Pipeline Partners, has a 52-week low of $11.99 and a 52-week high of $33.00. The stock’s 50-day moving average is $13.9 and its 200-day moving average is $21.46. The company has a market cap of $4.005 billion and a P/E ratio of 17.35. Boardwalk Pipeline Partners, also was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 2,442,761 shares, a decline of 44.4% from the March 14th total of 4,393,650 shares. Based on an average daily trading volume, of 4,075,527 shares, the short-interest ratio is currently 0.6 days. Approximately 1.0% of the shares of the company are sold short.
Boardwalk Pipeline Partners, (NYSE:BWP) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.13. The company had revenue of $356.90 million for the quarter, compared to the consensus estimate of $303.09 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that Boardwalk Pipeline Partners, will post $0.84 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 15th. Investors of record on Thursday, May 8th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.47%.
Boardwalk Pipeline Partners, LP is a limited partnership company. The Company owns and operates three interstate natural gas pipeline systems including integrated storage facilities.
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