Boardwalk Pipeline Partners, LP (BWP) Expected to Post Quarterly Sales of $358.74 Million

Analysts expect Boardwalk Pipeline Partners, LP (NYSE:BWP) to report $358.74 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Boardwalk Pipeline Partners’ earnings, with estimates ranging from $341.45 million to $374.80 million. Boardwalk Pipeline Partners posted sales of $352.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The business is scheduled to report its next quarterly earnings results before the market opens on Monday, February 12th.

On average, analysts expect that Boardwalk Pipeline Partners will report full year sales of $358.74 million for the current year, with estimates ranging from $1.33 billion to $1.36 billion. For the next year, analysts anticipate that the company will post sales of $1.35 billion per share, with estimates ranging from $1.27 billion to $1.42 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Boardwalk Pipeline Partners.

A number of equities research analysts recently weighed in on BWP shares. Citigroup dropped their price target on shares of Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Credit Suisse Group started coverage on shares of Boardwalk Pipeline Partners in a research note on Thursday, January 4th. They set a “neutral” rating and a $15.00 price target for the company. Barclays raised shares of Boardwalk Pipeline Partners from an “underweight” rating to an “equal weight” rating and set a $16.00 price target for the company in a research note on Wednesday, January 17th. Goldman Sachs Group started coverage on shares of Boardwalk Pipeline Partners in a research note on Friday, November 17th. They set a “sell” rating and a $14.00 price target for the company. Finally, Zacks Investment Research downgraded shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $19.25.

Shares of Boardwalk Pipeline Partners (NYSE:BWP) opened at $12.06 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $3,020.00, a P/E ratio of 10.22 and a beta of 0.60. Boardwalk Pipeline Partners has a 12 month low of $12.05 and a 12 month high of $18.95.

A number of hedge funds and other institutional investors have recently modified their holdings of BWP. Alliancebernstein L.P. grew its holdings in Boardwalk Pipeline Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 31,547 shares of the pipeline company’s stock valued at $568,000 after purchasing an additional 1,766 shares during the period. California Public Employees Retirement System grew its holdings in Boardwalk Pipeline Partners by 4.3% during the second quarter. California Public Employees Retirement System now owns 240,100 shares of the pipeline company’s stock valued at $4,324,000 after purchasing an additional 10,000 shares during the period. Clinton Group Inc. acquired a new position in Boardwalk Pipeline Partners during the second quarter valued at approximately $298,000. CNH Partners LLC grew its holdings in Boardwalk Pipeline Partners by 0.3% during 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. Finally, The Manufacturers Life Insurance Company grew its holdings in Boardwalk Pipeline Partners by 7.2% during 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. Hedge funds and other institutional investors own 98.09% of the company’s stock.

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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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