Boardwalk Pipeline Partners (BWP) Given New $15.00 Price Target at Bank of America

Boardwalk Pipeline Partners (NYSE:BWP) had its price objective lowered by Bank of America from $16.00 to $15.00 in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the pipeline company’s stock. Bank of America’s price target would indicate a potential upside of 31.00% from the company’s previous close.

BWP has been the subject of a number of other reports. Barclays set a $14.00 price target on shares of Boardwalk Pipeline Partners and gave the company a “hold” rating in a report on Monday. Credit Suisse Group assumed coverage on shares of Boardwalk Pipeline Partners in a report on Thursday, January 4th. They issued a “neutral” rating and a $15.00 price target for the company. Goldman Sachs Group assumed coverage on shares of Boardwalk Pipeline Partners in a report on Friday, November 17th. They issued a “sell” rating and a $14.00 price target for the company. TheStreet downgraded shares of Boardwalk Pipeline Partners from a “b-” rating to a “c+” rating in a report on Friday, January 19th. Finally, ValuEngine downgraded shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Boardwalk Pipeline Partners currently has an average rating of “Hold” and an average target price of $18.56.

Boardwalk Pipeline Partners (BWP) traded up $0.10 during midday trading on Tuesday, hitting $11.45. 1,027,329 shares of the company traded hands, compared to its average volume of 1,431,244. 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 P/E ratio of 9.74 and a beta of 0.60. Boardwalk Pipeline Partners has a fifty-two week low of $11.00 and a fifty-two week high of $18.79.

Boardwalk Pipeline Partners (NYSE:BWP) last issued its quarterly earnings results on Monday, February 12th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). 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 during the quarter, compared to the consensus estimate of $352.58 million. During the same period last year, the company earned $0.36 earnings per share. Boardwalk Pipeline Partners’s revenue for the quarter was down 4.3% on a year-over-year basis. sell-side analysts anticipate that Boardwalk Pipeline Partners will post 1.4 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of Boardwalk Pipeline Partners by 2.3% in the 4th quarter. Alps Advisors Inc. now owns 10,330,204 shares of the pipeline company’s stock valued at $133,363,000 after buying an additional 234,271 shares in the last quarter. Maple Brown Abbott Ltd raised its stake in shares of Boardwalk Pipeline Partners by 39.1% in the 4th quarter. Maple Brown Abbott Ltd now owns 7,224,294 shares of the pipeline company’s stock valued at $93,266,000 after buying an additional 2,031,267 shares in the last quarter. Magnolia Group LLC acquired a new position in shares of Boardwalk Pipeline Partners in the 4th quarter valued at $51,132,000. Bank of Montreal Can raised its stake in shares of Boardwalk Pipeline Partners by 13.2% in the 4th quarter. Bank of Montreal Can now owns 2,346,950 shares of the pipeline company’s stock valued at $30,299,000 after buying an additional 274,000 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Boardwalk Pipeline Partners by 37.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,289,095 shares of the pipeline company’s stock valued at $33,421,000 after buying an additional 620,514 shares in the last quarter. Institutional investors own 98.12% 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.

Analyst Recommendations for Boardwalk Pipeline Partners (NYSE:BWP)

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