Boardwalk Pipeline Partners L.P. (NYSE:BWP)‘s stock had its “buy” rating restated by equities researchers at RBC Capital Markets in a note issued to investors on Friday. They currently have a $19.00 price target on the stock. RBC Capital Markets’ price target suggests a potential upside of 3.71% from the stock’s current price.
BWP has been the subject of several other research reports. Zacks Investment Research lowered Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a report on Monday, October 10th. Janney Montgomery Scott initiated coverage on Boardwalk Pipeline Partners L.P. in a report on Thursday, September 29th. They set a “neutral” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Boardwalk Pipeline Partners L.P. currently has a consensus rating of “Hold” and a consensus target price of $18.63.
Boardwalk Pipeline Partners L.P. (NYSE:BWP) opened at 18.32 on Friday. The company has a market capitalization of $4.59 billion, a PE ratio of 16.73 and a beta of 0.73. Boardwalk Pipeline Partners L.P. has a 1-year low of $8.86 and a 1-year high of $18.54. The company has a 50 day moving average of $17.52 and a 200 day moving average of $17.04.
Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its quarterly earnings data on Monday, October 31st. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by $0.01. Boardwalk Pipeline Partners L.P. had a net margin of 21.82% and a return on equity of 6.34%. The business had revenue of $303.30 million for the quarter, compared to analysts’ expectations of $299.47 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, analysts predict that Boardwalk Pipeline Partners L.P. will post $1.14 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of BWP. Morgan Stanley raised its position in shares of Boardwalk Pipeline Partners L.P. by 2.0% in the third quarter. Morgan Stanley now owns 9,117,311 shares of the company’s stock worth $156,453,000 after buying an additional 181,679 shares during the period. Alps Advisors Inc. purchased a new position in shares of Boardwalk Pipeline Partners L.P. during the third quarter worth about $135,669,000. Harvest Fund Advisors LLC raised its position in shares of Boardwalk Pipeline Partners L.P. by 30.4% in the second quarter. Harvest Fund Advisors LLC now owns 7,677,544 shares of the company’s stock worth $133,973,000 after buying an additional 1,788,218 shares during the period. ING Groep NV raised its position in shares of Boardwalk Pipeline Partners L.P. by 3.6% in the second quarter. ING Groep NV now owns 7,338,580 shares of the company’s stock worth $128,132,000 after buying an additional 251,630 shares during the period. Finally, FMR LLC raised its position in shares of Boardwalk Pipeline Partners L.P. by 14.1% in the second quarter. FMR LLC now owns 5,483,424 shares of the company’s stock worth $95,686,000 after buying an additional 676,051 shares during the period. Institutional investors own 94.06% of the company’s stock.
About Boardwalk Pipeline Partners L.P.
Boardwalk Pipeline Partners, LP is a limited partnership company. The Company conducts business through its primary subsidiary, Boardwalk Pipelines, LP, and its subsidiaries, Gulf South Pipeline Company, LP, Texas Gas Transmission, LLC, Gulf Crossing Pipeline Company LLC, Boardwalk Louisiana Midstream, LLC, Boardwalk Petrochemical Pipeline, LLC and Boardwalk Field Services, LLC.
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