Investors Purchase High Volume of Put Options on Boardwalk Pipeline Partners (NYSE:BWP)

Boardwalk Pipeline Partners, LP (NYSE:BWP) was the target of unusually large options trading on Monday. Investors bought 3,203 put options on the stock. This is an increase of approximately 1,560% compared to the typical daily volume of 193 put options.

Shares of Boardwalk Pipeline Partners (BWP) opened at $13.49 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77. Boardwalk Pipeline Partners has a twelve month low of $12.79 and a twelve month high of $18.95. The company has a market capitalization of $3,411.53, a price-to-earnings ratio of 11.43 and a beta of 0.72.

Boardwalk Pipeline Partners (NYSE:BWP) last announced its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Boardwalk Pipeline Partners had a net margin of 22.50% and a return on equity of 7.55%. The firm had revenue of $300.50 million during the quarter, compared to analysts’ expectations of $324.85 million. During the same period in the prior year, the company earned $0.19 EPS. The firm’s revenue was down .9% on a year-over-year basis. research analysts predict that Boardwalk Pipeline Partners will post 1.4 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can boosted its position in Boardwalk Pipeline Partners by 13.2% during the 4th quarter. Bank of Montreal Can now owns 2,346,950 shares of the pipeline company’s stock worth $30,299,000 after purchasing an additional 274,000 shares during the period. Starfire Investment Advisers Inc. purchased a new position in Boardwalk Pipeline Partners in the 4th quarter valued at about $730,000. GSA Capital Partners LLP boosted its position in Boardwalk Pipeline Partners by 151.5% in the 3rd quarter. GSA Capital Partners LLP now owns 37,988 shares of the pipeline company’s stock valued at $558,000 after buying an additional 22,884 shares during the last quarter. Neuberger Berman Group LLC boosted its position in Boardwalk Pipeline Partners by 60.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 181,391 shares of the pipeline company’s stock valued at $2,666,000 after buying an additional 68,350 shares during the last quarter. Finally, Castleton Investment Management LLC boosted its position in Boardwalk Pipeline Partners by 9.2% in the 3rd quarter. Castleton Investment Management LLC now owns 201,000 shares of the pipeline company’s stock valued at $2,955,000 after buying an additional 17,000 shares during the last quarter. 97.18% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Wednesday. Barclays upgraded Boardwalk Pipeline Partners from an “underweight” rating to an “equal weight” rating and set a $16.00 price objective for the company in a research report on Wednesday. Royal Bank of Canada restated a “hold” rating and set a $18.00 price objective on shares of Boardwalk Pipeline Partners in a research report on Tuesday, October 10th. ValuEngine downgraded Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Bank of America assumed coverage on Boardwalk Pipeline Partners in a report on Tuesday, January 9th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Boardwalk Pipeline Partners presently has a consensus rating of “Hold” and a consensus price target of $19.25.

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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.

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