Boardwalk Pipeline Partners L.P. (NYSE:BWP) Rating Reiterated by UBS AG

Boardwalk Pipeline Partners L.P. (NYSE:BWP)‘s stock had its “buy” rating reissued by stock analysts at UBS AG in a research report issued on Wednesday, October 4th, www.benzinga.com reports. They currently have a $18.00 price target on the pipeline company’s stock, down from their previous price target of $22.00. UBS AG’s price objective suggests a potential upside of 20.89% from the company’s previous close.

Several other equities research analysts have also recently commented on BWP. BidaskClub cut shares of Boardwalk Pipeline Partners L.P. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada cut Boardwalk Pipeline Partners L.P. from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $22.00 to $18.00 in a research note on Tuesday, August 1st. Zacks Investment Research cut Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, ValuEngine cut Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Boardwalk Pipeline Partners L.P. has a consensus rating of “Hold” and an average target price of $22.75.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) opened at 14.89 on Wednesday. The company’s 50 day moving average is $14.88 and its 200 day moving average is $16.80. Boardwalk Pipeline Partners L.P. has a one year low of $14.40 and a one year high of $18.95. The stock has a market cap of $3.73 billion, a PE ratio of 13.65 and a beta of 0.77.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last posted its earnings results on Monday, July 31st. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Boardwalk Pipeline Partners L.P. had a net margin of 20.78% and a return on equity of 7.14%. The company had revenue of $317.60 million during the quarter, compared to the consensus estimate of $315.12 million. During the same quarter in the previous year, the business posted $0.26 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Boardwalk Pipeline Partners L.P. will post $1.46 EPS for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of BWP. The Manufacturers Life Insurance Company lifted its holdings in shares of Boardwalk Pipeline Partners L.P. by 7.2% during the second 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 during the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Boardwalk Pipeline Partners L.P. by 0.3% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock worth $202,000 after buying an additional 31 shares during the last quarter. Rafferty Asset Management LLC bought a new stake in shares of Boardwalk Pipeline Partners L.P. during the second quarter valued at approximately $211,000. BNP Paribas Arbitrage SA bought a new stake in shares of Boardwalk Pipeline Partners L.P. during the first quarter valued at approximately $230,000. Finally, Creative Planning increased its position in shares of Boardwalk Pipeline Partners L.P. by 6.5% during the second quarter. Creative Planning now owns 13,072 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 800 shares during the period. Hedge funds and other institutional investors own 94.04% of the company’s stock.

Boardwalk Pipeline Partners L.P. 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.

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