Brokerages Set Boardwalk Pipeline Partners L.P. (BWP) Target Price at $20.60

Shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) have been given a consensus rating of “Hold” by the nine brokerages that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $20.60.

A number of research firms recently issued reports on BWP. Goldman Sachs Group began coverage on Boardwalk Pipeline Partners in a report on Friday, November 17th. They set a “sell” rating and a $14.00 price target on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $18.00 price target on shares of Boardwalk Pipeline Partners in a report on Wednesday, September 6th. BidaskClub lowered Boardwalk Pipeline Partners from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Finally, UBS reaffirmed a “buy” rating and issued a $18.00 price objective (down previously from $22.00) on shares of Boardwalk Pipeline Partners in a report on Wednesday, October 4th.

Boardwalk Pipeline Partners (NYSE BWP) traded down $0.39 during midday trading on Friday, hitting $13.26. The company had a trading volume of 833,293 shares, compared to its average volume of 849,209. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. Boardwalk Pipeline Partners has a 52-week low of $12.82 and a 52-week high of $18.95. The stock has a market capitalization of $3,416.54, a price-to-earnings ratio of 9.96 and a beta of 0.72.

Boardwalk Pipeline Partners (NYSE:BWP) last released its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Boardwalk Pipeline Partners had a return on equity of 7.55% and a net margin of 22.50%. The firm had revenue of $300.50 million for the quarter, compared to analyst estimates of $324.85 million. During the same quarter last year, the company posted $0.19 earnings per share. The business’s revenue was down .9% on a year-over-year basis. equities analysts forecast that Boardwalk Pipeline Partners will post 1.41 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Thursday, November 9th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Wednesday, November 8th. Boardwalk Pipeline Partners’s dividend payout ratio is presently 33.90%.

A number of institutional investors and hedge funds have recently made changes to their positions in BWP. Alliancebernstein L.P. boosted its holdings in Boardwalk Pipeline Partners by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 29,781 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 8,599 shares in the last quarter. Creative Planning boosted its holdings in Boardwalk Pipeline Partners by 6.5% in the 2nd quarter. Creative Planning now owns 13,072 shares of the pipeline company’s stock valued at $235,000 after purchasing an additional 800 shares in the last quarter. US Bancorp DE boosted its holdings in Boardwalk Pipeline Partners by 3.3% in the 2nd quarter. US Bancorp DE now owns 19,895 shares of the pipeline company’s stock valued at $359,000 after purchasing an additional 644 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Boardwalk Pipeline Partners by 17.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 642,046 shares of the pipeline company’s stock valued at $11,567,000 after purchasing an additional 93,307 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Boardwalk Pipeline Partners in the 2nd quarter valued at approximately $1,068,000. 97.18% of the stock is currently owned by institutional investors.

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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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