Boardwalk Pipeline Partners L.P. (BWP) Rating Reiterated by UBS AG
Boardwalk Pipeline Partners L.P. (NYSE:BWP)‘s stock had its “buy” rating reiterated by UBS AG in a research note issued on Wednesday, The Fly reports. They presently have a $18.00 price objective on the pipeline company’s stock, down from their prior price objective of $22.00. UBS AG’s price target would indicate a potential upside of 19.60% from the company’s previous close.
Several other brokerages also recently weighed in on BWP. BidaskClub downgraded Boardwalk Pipeline Partners L.P. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Royal Bank Of Canada lowered Boardwalk Pipeline Partners L.P. from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $22.00 to $18.00 in a report on Tuesday, August 1st. Zacks Investment Research cut Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, ValuEngine cut Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $22.75.
Shares of Boardwalk Pipeline Partners L.P. (BWP) opened at 15.05 on Wednesday. The company’s 50-day moving average is $14.85 and its 200 day moving average is $16.95. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 13.79 and a beta of 0.77. Boardwalk Pipeline Partners L.P. has a 52-week low of $14.40 and a 52-week high of $18.95.
Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its quarterly earnings results on Monday, July 31st. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The company had revenue of $317.60 million during the quarter, compared to analyst estimates of $315.12 million. Boardwalk Pipeline Partners L.P. had a net margin of 20.78% and a return on equity of 7.14%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. On average, analysts expect that Boardwalk Pipeline Partners L.P. will post $1.41 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its holdings in Boardwalk Pipeline Partners L.P. by 215.0% in the 3rd quarter. Advisory Services Network LLC now owns 6,458 shares of the pipeline company’s stock valued at $111,000 after purchasing an additional 4,408 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Boardwalk Pipeline Partners L.P. by 108.5% in the 1st quarter. IFP Advisors Inc now owns 8,841 shares of the pipeline company’s stock valued at $130,000 after buying an additional 4,601 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Boardwalk Pipeline Partners L.P. by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock valued at $133,000 after buying an additional 494 shares during the period. BB&T Corp acquired a new stake in shares of Boardwalk Pipeline Partners L.P. in the 3rd quarter valued at approximately $172,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Boardwalk Pipeline Partners L.P. in the 3rd quarter valued at approximately $190,000. Hedge funds and other institutional investors own 94.04% 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.
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