Boardwalk Pipeline Partners, LP to Issue Quarterly Dividend of $0.10 (BWP)

Boardwalk Pipeline Partners, LP (NYSE:BWP) declared a quarterly dividend on Monday, February 12th, RTT News reports. Shareholders of record on Thursday, February 22nd will be given a dividend of 0.10 per share by the pipeline company on Thursday, March 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.47%.

Boardwalk Pipeline Partners has a payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Boardwalk Pipeline Partners to earn $1.30 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 30.8%.

Boardwalk Pipeline Partners (NYSE:BWP) opened at $11.52 on Monday. Boardwalk Pipeline Partners has a 52 week low of $11.28 and a 52 week high of $18.94. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77. The company has a market cap of $2,883.41, a price-to-earnings ratio of 8.41 and a beta of 0.60.

A number of research analysts have commented on BWP shares. 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. ValuEngine cut shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Citigroup dropped their target price on shares of Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. TheStreet cut shares of Boardwalk Pipeline Partners from a “b-” rating to a “c+” rating in a report on Friday, January 19th. Finally, Bank of America assumed coverage on shares of Boardwalk Pipeline Partners in a report on Tuesday, January 9th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. Boardwalk Pipeline Partners presently has a consensus rating of “Hold” and a consensus price target of $19.25.

An institutional investor recently raised its position in Boardwalk Pipeline Partners stock. The Manufacturers Life Insurance Company grew its holdings in shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) by 7.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,374 shares of the pipeline company’s stock after purchasing an additional 494 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Boardwalk Pipeline Partners were worth $133,000 as of its most recent SEC filing. 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.

Dividend History for Boardwalk Pipeline Partners (NYSE:BWP)

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