Boardwalk Pipeline Partners (BWP) Expected to Announce Quarterly Sales of $348.26 Million

Analysts forecast that Boardwalk Pipeline Partners (NYSE:BWP) will report sales of $348.26 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Boardwalk Pipeline Partners’ earnings. The lowest sales estimate is $340.50 million and the highest is $354.50 million. Boardwalk Pipeline Partners reported sales of $367.00 million in the same quarter last year, which indicates a negative year over year growth rate of 5.1%. The company is scheduled to announce its next quarterly earnings report before the market opens on Monday, April 30th.

On average, analysts expect that Boardwalk Pipeline Partners will report full-year sales of $1.30 billion for the current financial year, with estimates ranging from $1.26 billion to $1.32 billion. For the next fiscal year, analysts expect that the company will report sales of $1.31 billion per share, with estimates ranging from $1.25 billion to $1.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Boardwalk Pipeline Partners.

Boardwalk Pipeline Partners (NYSE:BWP) last issued its quarterly earnings results on Monday, February 12th. The pipeline company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 company’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share.

BWP has been the subject of several analyst reports. ValuEngine downgraded Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Credit Suisse Group started coverage on shares of Boardwalk Pipeline Partners in a research note on Thursday, January 4th. They set a “neutral” rating and a $15.00 price objective for the company. Bank of America started coverage on shares of Boardwalk Pipeline Partners in a research note on Tuesday, January 9th. They set a “buy” rating for the company. Barclays raised shares of 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 note on Wednesday, January 17th. Finally, Zacks Investment Research cut shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Boardwalk Pipeline Partners presently has an average rating of “Hold” and an average price target of $18.22.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of Boardwalk Pipeline Partners by 249.4% during the 4th quarter. Wells Fargo & Company MN now owns 254,177 shares of the pipeline company’s stock valued at $3,282,000 after buying an additional 181,420 shares during the period. Global X Management Co. LLC boosted its position in Boardwalk Pipeline Partners by 15.5% during the 4th quarter. Global X Management Co. LLC now owns 70,128 shares of the pipeline company’s stock worth $905,000 after purchasing an additional 9,400 shares during the period. Icon Wealth Partners LLC purchased a new stake in Boardwalk Pipeline Partners during the 4th quarter worth $165,000. Neuberger Berman Group LLC boosted its position in Boardwalk Pipeline Partners by 60.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 181,391 shares of the pipeline company’s stock worth $2,666,000 after purchasing an additional 68,350 shares during the period. Finally, Starfire Investment Advisers Inc. purchased a new stake in Boardwalk Pipeline Partners during the 4th quarter worth $730,000. 93.69% of the stock is owned by institutional investors.

BWP traded up $0.09 during trading on Friday, hitting $10.94. The company’s stock had a trading volume of 897,788 shares, compared to its average volume of 1,008,948. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market capitalization of $2,715.71, a PE ratio of 8.10 and a beta of 0.66. Boardwalk Pipeline Partners has a twelve month low of $9.85 and a twelve month high of $18.79.

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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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