Analysts at Credit Suisse Group began coverage on shares of Boardwalk Pipeline Partners (NYSE:BWP) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $15.00 price target on the pipeline company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 15.21% from the company’s current price.
Several other equities analysts have also weighed in on the stock. Goldman Sachs Group initiated coverage on shares of Boardwalk Pipeline Partners in a research report on Friday, November 17th. They set a “sell” rating and a $14.00 price objective on the stock. Zacks Investment Research raised shares of Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. UBS Group reaffirmed a “buy” rating and set a $18.00 price objective (down previously from $22.00) on shares of Boardwalk Pipeline Partners in a research report on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $18.00 price objective on shares of Boardwalk Pipeline Partners in a research report on Tuesday, October 10th. Finally, Citigroup cut their price objective on shares of Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.71.
Shares of Boardwalk Pipeline Partners (NYSE:BWP) traded down $0.22 on Thursday, reaching $13.02. 964,469 shares of the company traded hands, compared to its average volume of 1,564,276. The company has a market capitalization of $3,258.85, a price-to-earnings ratio of 9.50 and a beta of 0.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. Boardwalk Pipeline Partners has a 52-week low of $12.79 and a 52-week high of $18.95.
Several large investors have recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC raised its position in shares of Boardwalk Pipeline Partners by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock valued at $202,000 after purchasing an additional 31 shares during the period. CNH Partners LLC raised its position in shares of Boardwalk Pipeline Partners by 0.3% in the second quarter. CNH Partners LLC now owns 37,302 shares of the pipeline company’s stock valued at $672,000 after purchasing an additional 100 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Boardwalk Pipeline Partners by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock valued at $133,000 after purchasing an additional 494 shares during the period. Neuberger Berman Group LLC raised its position in shares of Boardwalk Pipeline Partners by 0.5% in the second quarter. Neuberger Berman Group LLC now owns 113,041 shares of the pipeline company’s stock valued at $2,036,000 after purchasing an additional 562 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Boardwalk Pipeline Partners by 0.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 110,753 shares of the pipeline company’s stock valued at $1,995,000 after purchasing an additional 641 shares during the period. 97.18% of the stock is currently owned by institutional investors.
Boardwalk Pipeline Partners Company Profile
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.
