Boardwalk Pipeline Partners (BWP) Given a $14.00 Price Target by Barclays Analysts

Barclays set a $14.00 price objective on Boardwalk Pipeline Partners (NYSE:BWP) in a research note published on Monday. The brokerage currently has a hold rating on the pipeline company’s stock.

Several other analysts also recently issued reports on the stock. Goldman Sachs Group initiated coverage on shares of Boardwalk Pipeline Partners in a report on Friday, November 17th. They set a sell rating and a $14.00 price objective for the company. Credit Suisse Group began coverage on shares of Boardwalk Pipeline Partners in a report on Thursday, January 4th. They issued a neutral rating and a $15.00 price target for the company. Zacks Investment Research raised shares of Boardwalk Pipeline Partners from a sell rating to a hold rating in a report on Friday, November 10th. ValuEngine downgraded shares of Boardwalk Pipeline Partners from a buy rating to a hold rating in a report on Sunday, December 31st. Finally, Bank of America began coverage on shares of Boardwalk Pipeline Partners in a report on Tuesday, January 9th. They issued a buy rating for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $18.56.

Shares of Boardwalk Pipeline Partners (BWP) opened at $11.13 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $2,845.86, a price-to-earnings ratio of 8.42 and a beta of 0.60. Boardwalk Pipeline Partners has a 1-year low of $11.00 and a 1-year high of $18.79.

Boardwalk Pipeline Partners (NYSE:BWP) last posted its quarterly earnings data on Monday, February 12th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.07). The firm had revenue of $337.50 million for the quarter, compared to the consensus estimate of $352.58 million. Boardwalk Pipeline Partners had a return on equity of 7.42% and a net margin of 22.46%. Boardwalk Pipeline Partners’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. analysts anticipate that Boardwalk Pipeline Partners will post 1.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 22nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Wednesday, February 21st. Boardwalk Pipeline Partners’s dividend payout ratio (DPR) is presently 34.48%.

A number of institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in Boardwalk Pipeline Partners by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock valued at $133,000 after purchasing an additional 494 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Boardwalk Pipeline Partners by 0.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 110,753 shares of the pipeline company’s stock valued at $1,995,000 after buying an additional 641 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Boardwalk Pipeline Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 31,547 shares of the pipeline company’s stock valued at $568,000 after buying an additional 1,766 shares in the last quarter. Mraz Amerine & Associates Inc. raised its stake in shares of Boardwalk Pipeline Partners by 4.0% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 134,992 shares of the pipeline company’s stock valued at $1,984,000 after buying an additional 5,217 shares in the last quarter. Finally, Conning Inc. raised its stake in shares of Boardwalk Pipeline Partners by 4.9% in the 3rd quarter. Conning Inc. now owns 141,876 shares of the pipeline company’s stock valued at $2,086,000 after buying an additional 6,617 shares in the last quarter. 98.12% of the stock is owned by hedge funds and other institutional investors.

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About Boardwalk Pipeline Partners

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.

Analyst Recommendations for Boardwalk Pipeline Partners (NYSE:BWP)

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