Boardwalk Pipeline Partners L.P. (NYSE:BWP) Expected to Post Quarterly Sales of $323.55 Million
Equities research analysts expect that Boardwalk Pipeline Partners L.P. (NYSE:BWP) will post sales of $323.55 million for the current quarter, Zacks reports. Four analysts have issued estimates for Boardwalk Pipeline Partners L.P.’s earnings. The lowest sales estimate is $318.16 million and the highest is $329.10 million. Boardwalk Pipeline Partners L.P. posted sales of $303.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.7%. The business is expected to announce its next earnings report on Monday, October 30th.
According to Zacks, analysts expect that Boardwalk Pipeline Partners L.P. will report full year sales of $323.55 million for the current financial year, with estimates ranging from $1.36 billion to $1.40 billion. For the next financial year, analysts forecast that the company will post sales of $1.47 billion per share, with estimates ranging from $1.36 billion to $1.55 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Boardwalk Pipeline Partners L.P..
Boardwalk Pipeline Partners L.P. (NYSE:BWP) last announced its earnings results on Monday, July 31st. The pipeline company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Boardwalk Pipeline Partners L.P. had a return on equity of 7.14% and a net margin of 20.78%. The business had revenue of $317.60 million for the quarter, compared to the consensus estimate of $315.12 million. During the same period in the prior year, the business posted $0.26 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year.
A number of analysts recently commented on BWP shares. Wells Fargo & Company restated an “outperform” rating and set a $35.00 price target on shares of Boardwalk Pipeline Partners L.P. in a research note on Tuesday, May 9th. ValuEngine lowered shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub lowered shares of Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday, April 13th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $22.00 target price on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $22.75.
Hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in Boardwalk Pipeline Partners L.P. during the first quarter worth $117,000. Sheaff Brock Investment Advisors LLC raised its stake in Boardwalk Pipeline Partners L.P. by 0.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,210 shares of the pipeline company’s stock worth $205,000 after buying an additional 31 shares during the period. BNP Paribas Arbitrage SA purchased a new stake in Boardwalk Pipeline Partners L.P. during the first quarter worth $230,000. Creative Planning raised its stake in Boardwalk Pipeline Partners L.P. by 6.5% in the second quarter. Creative Planning now owns 13,072 shares of the pipeline company’s stock worth $235,000 after buying an additional 800 shares during the period. Finally, Stifel Financial Corp purchased a new stake in Boardwalk Pipeline Partners L.P. during the first quarter worth $243,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.
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Boardwalk Pipeline Partners L.P. (NYSE BWP) opened at 15.95 on Tuesday. The stock’s 50 day moving average is $17.41 and its 200 day moving average is $18.00. Boardwalk Pipeline Partners L.P. has a one year low of $15.95 and a one year high of $18.95. The company has a market capitalization of $3.99 billion, a PE ratio of 14.62 and a beta of 0.76.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Thursday, August 10th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Tuesday, August 8th. Boardwalk Pipeline Partners L.P.’s dividend payout ratio (DPR) is presently 36.36%.
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.
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