Boardwalk Pipeline Partners, LP (BWP) Rating Lowered to Sell at Zacks Investment Research
Boardwalk Pipeline Partners, LP (NYSE:BWP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “Boardwalk Pipeline Partners LP is a master limited partnership engaged through its subsidiaries, Texas Gas Transmission, LLC and Gulf South Pipeline Company, LP, in the interstate transportation and storage of natural gas. “
BWP has been the subject of a number of other research reports. Credit Suisse Group AG reissued a “neutral” rating on shares of Boardwalk Pipeline Partners, in a research report on Tuesday, August 16th. Ladenburg Thalmann cut Boardwalk Pipeline Partners, from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Thursday, July 21st. Janney Montgomery Scott began coverage on Boardwalk Pipeline Partners, in a research report on Thursday, September 29th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Barclays PLC raised their price objective on Boardwalk Pipeline Partners, from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.43.
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Boardwalk Pipeline Partners, (NYSE:BWP) traded up 0.72% during trading on Monday, hitting $16.87. 495,273 shares of the company traded hands. The stock has a 50-day moving average price of $16.71 and a 200-day moving average price of $16.63. Boardwalk Pipeline Partners, has a 12-month low of $8.86 and a 12-month high of $18.16. The firm has a market capitalization of $4.22 billion, a P/E ratio of 15.93 and a beta of 0.80.
Boardwalk Pipeline Partners, (NYSE:BWP) last announced its earnings results on Monday, August 1st. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $306.30 million for the quarter, compared to the consensus estimate of $299.35 million. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.16 EPS. Equities analysts expect that Boardwalk Pipeline Partners, will post $1.16 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. purchased a new position in shares of Boardwalk Pipeline Partners, during the second quarter worth about $103,000. Advisory Services Network LLC raised its position in Boardwalk Pipeline Partners, by 215.0% in the third quarter. Advisory Services Network LLC now owns 6,458 shares of the company’s stock worth $111,000 after buying an additional 4,408 shares during the last quarter. IFP Advisors Inc raised its position in Boardwalk Pipeline Partners, by 108.5% in the first quarter. IFP Advisors Inc now owns 8,841 shares of the company’s stock worth $130,000 after buying an additional 4,601 shares during the last quarter. HAP Trading LLC bought a new position in Boardwalk Pipeline Partners, during the second quarter worth $203,000. Finally, Iridian Asset Management LLC CT raised its position in Boardwalk Pipeline Partners, by 14.3% in the second quarter. Iridian Asset Management LLC CT now owns 11,650 shares of the company’s stock worth $203,000 after buying an additional 1,455 shares during the last quarter.
About Boardwalk Pipeline Partners,
Boardwalk Pipeline Partners, LP is a limited partnership company. The Company conducts business through its primary subsidiary, Boardwalk Pipelines, LP, and its subsidiaries, Gulf South Pipeline Company, LP, Texas Gas Transmission, LLC, Gulf Crossing Pipeline Company LLC, Boardwalk Louisiana Midstream, LLC, Boardwalk Petrochemical Pipeline, LLC and Boardwalk Field Services, LLC.
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