ING Groep NV Has $3.06 Million Position in Boardwalk Pipeline Partners L.P. (NYSE:BWP)

ING Groep NV reduced its position in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 91.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,000 shares of the pipeline company’s stock after selling 1,760,570 shares during the period. ING Groep NV owned about 0.07% of Boardwalk Pipeline Partners L.P. worth $3,062,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in Boardwalk Pipeline Partners L.P. by 100.2% in the first quarter. First Trust Advisors LP now owns 296,732 shares of the pipeline company’s stock worth $5,433,000 after buying an additional 148,544 shares during the period. Usca Ria LLC increased its stake in Boardwalk Pipeline Partners L.P. by 15.2% in the first quarter. Usca Ria LLC now owns 15,208 shares of the pipeline company’s stock worth $278,000 after buying an additional 2,008 shares during the period. Geneva Advisors LLC bought a new stake in Boardwalk Pipeline Partners L.P. during the first quarter worth approximately $573,000. Advisory Services Network LLC bought a new stake in Boardwalk Pipeline Partners L.P. during the first quarter worth approximately $117,000. Finally, Jennison Associates LLC increased its stake in Boardwalk Pipeline Partners L.P. by 3.3% in the first quarter. Jennison Associates LLC now owns 825,241 shares of the pipeline company’s stock worth $15,110,000 after buying an additional 26,642 shares during the period. 99.03% of the stock is owned by institutional investors and hedge funds.

Shares of Boardwalk Pipeline Partners L.P. (NYSE BWP) opened at 15.15 on Thursday. Boardwalk Pipeline Partners L.P. has a 12 month low of $15.06 and a 12 month high of $18.95. The company has a market cap of $3.79 billion, a P/E ratio of 13.89 and a beta of 0.76. The stock’s 50 day moving average is $16.92 and its 200-day moving average is $17.80.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last released its quarterly earnings data on Monday, July 31st. The pipeline company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $317.60 million during the quarter, compared to analyst estimates of $315.12 million. Boardwalk Pipeline Partners L.P. had a return on equity of 7.14% and a net margin of 20.78%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. On average, equities analysts forecast that Boardwalk Pipeline Partners L.P. will post $1.42 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Thursday, August 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.64%. Boardwalk Pipeline Partners L.P.’s payout ratio is currently 36.36%.

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A number of equities research analysts have commented on the stock. ValuEngine downgraded shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, July 3rd. Wells Fargo & Company reissued an “outperform” rating and set a $35.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a research report on Tuesday, May 9th. BidaskClub raised shares of Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $22.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $22.75.

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.

Institutional Ownership by Quarter for Boardwalk Pipeline Partners L.P. (NYSE:BWP)

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