Boardwalk Pipeline Partners Sees Unusually High Options Volume (BWP)
Boardwalk Pipeline Partners L.P. (NYSE:BWP) was the recipient of unusually large options trading activity on Friday. Traders acquired 625 call options on the company. This is an increase of approximately 1,057% compared to the typical volume of 54 call options.
A number of research firms recently weighed in on BWP. BidaskClub cut shares of Boardwalk Pipeline Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. ValuEngine cut shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. UBS reissued a “buy” rating and issued a $18.00 price target (down previously from $22.00) on shares of Boardwalk Pipeline Partners in a research report on Wednesday, October 4th. Royal Bank Of Canada reissued a “hold” rating and issued a $18.00 price target on shares of Boardwalk Pipeline Partners in a research report on Wednesday, September 6th. Finally, Zacks Investment Research cut shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $20.50.
Boardwalk Pipeline Partners (NYSE BWP) opened at $13.65 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.56 and a quick ratio of 0.56. Boardwalk Pipeline Partners has a 1 year low of $12.82 and a 1 year high of $18.95. The company has a market cap of $3,416.54, a P/E ratio of 9.96 and a beta of 0.73.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 9th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.93%. Boardwalk Pipeline Partners’s dividend payout ratio (DPR) is currently 33.90%.
Several institutional investors have recently added to or reduced their stakes in BWP. The Manufacturers Life Insurance Company lifted its position in shares of Boardwalk Pipeline Partners by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after purchasing an additional 494 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Boardwalk Pipeline Partners by 0.3% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 31 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Boardwalk Pipeline Partners during the 2nd quarter worth $211,000. Creative Planning lifted its position in shares of Boardwalk Pipeline Partners by 6.5% during the 2nd quarter. Creative Planning now owns 13,072 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 800 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in Boardwalk Pipeline Partners during the 2nd quarter worth $248,000. 97.15% of the stock is owned by institutional investors and hedge funds.
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About Boardwalk Pipeline Partners
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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