Boardwalk Pipeline Partners (BWP) Issues Earnings Results

Boardwalk Pipeline Partners (NYSE:BWP) issued its quarterly earnings results on Monday. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07), RTT News reports. Boardwalk Pipeline Partners had a net margin of 22.50% and a return on equity of 7.55%. The company had revenue of $337.50 million for the quarter, compared to the consensus estimate of $352.58 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. Boardwalk Pipeline Partners’s revenue was down 4.3% compared to the same quarter last year.

Shares of Boardwalk Pipeline Partners (NYSE:BWP) opened at $11.52 on Monday. Boardwalk Pipeline Partners has a twelve month low of $11.28 and a twelve month high of $18.94. The company has a market capitalization of $2,883.41, a PE ratio of 9.76 and a beta of 0.60. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.56 and a quick ratio of 0.56.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 22nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.47%. Boardwalk Pipeline Partners’s payout ratio is 33.90%.

BWP has been the subject of several analyst reports. Zacks Investment Research downgraded Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a report on Friday, October 20th. ValuEngine downgraded Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Citigroup reduced their price target on Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, November 2nd. TheStreet downgraded Boardwalk Pipeline Partners from a “b-” rating to a “c+” rating in a report on Friday, January 19th. Finally, Bank of America initiated coverage on Boardwalk Pipeline Partners in a report on Tuesday, January 9th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.25.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BWP. Alliancebernstein L.P. increased its holdings in Boardwalk Pipeline Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 31,547 shares of the pipeline company’s stock worth $568,000 after buying an additional 1,766 shares in the last quarter. California Public Employees Retirement System increased its holdings in Boardwalk Pipeline Partners by 4.3% in the 2nd quarter. California Public Employees Retirement System now owns 240,100 shares of the pipeline company’s stock worth $4,324,000 after buying an additional 10,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Boardwalk Pipeline Partners by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after buying an additional 494 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Boardwalk Pipeline Partners by 0.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 110,753 shares of the pipeline company’s stock worth $1,995,000 after buying an additional 641 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in Boardwalk Pipeline Partners in the 2nd quarter worth about $248,000. Institutional investors own 98.12% of the company’s stock.

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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.

Earnings History for Boardwalk Pipeline Partners (NYSE:BWP)

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