Boardwalk Pipeline Partners, Sees Large Increase in Short Interest (BWP)
Boardwalk Pipeline Partners, (NYSE:BWP) was the recipient of a significant growth in short interest in the month of May. As of May 30th, there was short interest totalling 2,178,057 shares, a growth of 60.6% from the May 15th total of 1,356,600 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 1,760,387 shares, the short-interest ratio is presently 1.2 days. Approximately 0.9% of the company’s shares are sold short.
A number of analysts have recently weighed in on BWP shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Boardwalk Pipeline Partners, in a research note on Tuesday, April 29th. They now have a $18.50 price target on the stock. Separately, analysts at Morgan Stanley upgraded shares of Boardwalk Pipeline Partners, from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, April 29th. They now have a $17.00 price target on the stock, up previously from $14.00. Finally, 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, April 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $18.48.
Shares of Boardwalk Pipeline Partners, (NYSE:BWP) opened at 17.28 on Wednesday. Boardwalk Pipeline Partners, has a 52 week low of $11.99 and a 52 week high of $33.00. The stock has a 50-day moving average of $16.93 and a 200-day moving average of $18.00. The company has a market cap of $4.203 billion and a P/E ratio of 17.45.
Boardwalk Pipeline Partners, (NYSE:BWP) last released its earnings data on Monday, April 28th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.42 earnings per share. Boardwalk Pipeline Partners,’s revenue was up 8.6% compared to the same quarter last year. Analysts expect that Boardwalk Pipeline Partners, will post $0.94 EPS for the current fiscal year.
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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