Traders Purchase High Volume of Call Options on Boardwalk Pipeline Partners (BWP)

Boardwalk Pipeline Partners (NYSE:BWP) saw unusually large options trading activity on Monday. Stock traders acquired 4,009 call options on the company. This is an increase of approximately 885% compared to the typical daily volume of 407 call options.

Shares of Boardwalk Pipeline Partners stock opened at $10.83 on Tuesday. The firm has a market capitalization of $2,638.12, a PE ratio of 8.02 and a beta of 0.66. Boardwalk Pipeline Partners has a 12 month low of $9.85 and a 12 month high of $18.79. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.64 and a current ratio of 0.64.

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Boardwalk Pipeline Partners (NYSE:BWP) last announced its earnings results on Monday, February 12th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $337.50 million during the quarter, compared to analyst estimates of $352.58 million. Boardwalk Pipeline Partners had a net margin of 22.46% and a return on equity of 7.38%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. equities research analysts expect that Boardwalk Pipeline Partners will post 1.21 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in BWP. SeaCrest Wealth Management LLC acquired a new position in Boardwalk Pipeline Partners in the 4th quarter valued at $114,000. Sheaff Brock Investment Advisors LLC acquired a new position in Boardwalk Pipeline Partners in the 4th quarter valued at $129,000. The Manufacturers Life Insurance Company increased its stake 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 buying an additional 494 shares during the period. Icon Wealth Partners LLC acquired a new position in Boardwalk Pipeline Partners in the 4th quarter valued at $165,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Boardwalk Pipeline Partners in the 4th quarter valued at $168,000. 93.69% of the stock is currently owned by institutional investors.

BWP has been the topic of a number of recent research reports. ValuEngine cut shares of Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Credit Suisse Group initiated coverage on shares of Boardwalk Pipeline Partners in a report on Thursday, January 4th. They issued a “neutral” rating and a $15.00 target price on the stock. Bank of America initiated coverage on shares of Boardwalk Pipeline Partners in a report on Tuesday, January 9th. They issued a “buy” rating on the stock. Barclays raised shares of Boardwalk Pipeline Partners from an “underweight” rating to an “equal weight” rating and set a $16.00 target price on the stock in a report on Wednesday, January 17th. Finally, Zacks Investment Research cut shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.22.

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Boardwalk Pipeline Partners Company Profile

Boardwalk Pipeline Partners, LP, through its subsidiaries, owns and operates integrated natural gas and natural gas liquids and other hydrocarbons (NGLs) pipeline and storage systems in the United States. It operates interstate natural gas and NGLs pipeline systems, and integrated storage facilities, which are located in the Gulf Coast region, Oklahoma, Arkansas and the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio.

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