Boardwalk Pipeline Partners L.P. (NYSE:BWP) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Thursday.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Royal Bank Of Canada restated a “buy” rating and issued a $21.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, March 14th. TheStreet upgraded shares of Boardwalk Pipeline Partners L.P. from a “c+” rating to a “b-” rating in a report on Thursday, March 9th. Wells Fargo & Company restated an “outperform” rating and issued a $35.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, May 9th. Finally, ValuEngine lowered shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.50.

Shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) traded down 0.73% during trading on Thursday, reaching $17.73. 481,716 shares of the company were exchanged. Boardwalk Pipeline Partners L.P. has a 1-year low of $15.97 and a 1-year high of $18.95. The firm has a 50-day moving average price of $17.80 and a 200-day moving average price of $18.08. The stock has a market capitalization of $4.44 billion, a P/E ratio of 14.13 and a beta of 0.80.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last announced its quarterly earnings data on Monday, May 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.06. Boardwalk Pipeline Partners L.P. had a net margin of 24.11% and a return on equity of 7.10%. The business had revenue of $367 million for the quarter, compared to analyst estimates of $354.09 million. During the same period last year, the business earned $0.40 EPS. The company’s revenue was up 6.4% on a year-over-year basis. Equities research analysts predict that Boardwalk Pipeline Partners L.P. will post $1.39 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Boardwalk Pipeline Partners L.P. by 10.6% in the first quarter. Bank of America Corp DE now owns 3,371,237 shares of the pipeline company’s stock worth $61,728,000 after buying an additional 322,563 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Boardwalk Pipeline Partners L.P. by 451.0% in the fourth quarter. Renaissance Technologies LLC now owns 420,995 shares of the pipeline company’s stock worth $7,308,000 after buying an additional 344,595 shares during the last quarter. Usca Ria LLC boosted its position in shares of Boardwalk Pipeline Partners L.P. by 15.2% in the first quarter. Usca Ria LLC now owns 15,208 shares of the pipeline company’s stock worth $278,000 after buying an additional 2,008 shares during the last quarter. Spirit of America Management Corp NY boosted its position in shares of Boardwalk Pipeline Partners L.P. by 13.8% in the first quarter. Spirit of America Management Corp NY now owns 731,750 shares of the pipeline company’s stock worth $13,398,000 after buying an additional 88,650 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP acquired a new position in shares of Boardwalk Pipeline Partners L.P. during the first quarter worth about $16,547,000. Institutional investors own 99.06% of the company’s stock.

About Boardwalk Pipeline Partners L.P.

Boardwalk Pipeline Partners, LP is a limited partnership company. The Company’s business includes integrated natural gas and natural gas liquids, and other hydrocarbons (referred to together as NGLs) pipeline and storage systems. The Company is engaged in the operation of interstate natural gas and NGLs pipeline systems, and integrated storage facilities, including interstate natural gas pipeline systems located in the Gulf Coast region, Oklahoma, Arkansas and the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio, and its NGLs pipelines and storage facilities in Louisiana and Texas.

Analyst Recommendations for Boardwalk Pipeline Partners L.P. (NYSE:BWP)

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