Boardwalk Pipeline Partners, PT Raised to $24.00 at Credit Suisse (BWP)
Investment analysts at Credit Suisse hoisted their price objective on shares of Boardwalk Pipeline Partners, (NYSE:BWP) from $20.00 to $24.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target would indicate a potential upside of 24.42% from the stock’s previous close.
Shares of Boardwalk Pipeline Partners, (NYSE:BWP) traded down 1.83% during mid-day trading on Tuesday, hitting $19.29. The stock had a trading volume of 1,990,937 shares. Boardwalk Pipeline Partners, has a 1-year low of $11.99 and a 1-year high of $31.91. The stock has a 50-day moving average of $18.44 and a 200-day moving average of $16.7. The company has a market cap of $4.692 billion and a P/E ratio of 19.83. Boardwalk Pipeline Partners, also saw some unusual options trading activity on Monday. Investors purchased 7,396 call options on the stock. This represents an increase of 468% compared to the typical volume of 1,302 call options.
Boardwalk Pipeline Partners, (NYSE:BWP) last announced its earnings results on Monday, August 4th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.08. The company had revenue of $293.40 million for the quarter, compared to the consensus estimate of $261.09 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Boardwalk Pipeline Partners, will post $0.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 21st. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Tuesday, August 12th.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Boardwalk Pipeline Partners, from $22.00 to $25.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of Boardwalk Pipeline Partners, from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 2nd. They now have a $20.40 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Boardwalk Pipeline Partners, in a research note on Wednesday, July 2nd. They now have a $24.00 price target on the stock, up previously from $18.00. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Boardwalk Pipeline Partners, has an average rating of “Hold” and a consensus target price of $20.39.
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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