Bank of America began coverage on shares of Boardwalk Pipeline Partners (NYSE:BWP) in a research report report published on Tuesday, The Fly reports. The firm issued a buy rating on the pipeline company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed a hold rating and issued a $18.00 price target on shares of Boardwalk Pipeline Partners in a report on Tuesday, October 10th. ValuEngine cut Boardwalk Pipeline Partners from a buy rating to a hold rating in a report on Sunday, December 31st. Zacks Investment Research raised Boardwalk Pipeline Partners from a sell rating to a hold rating in a report on Friday, November 10th. Credit Suisse Group assumed coverage on Boardwalk Pipeline Partners in a report on Thursday, January 4th. They issued a neutral rating and a $15.00 price target for the company. Finally, Goldman Sachs Group assumed coverage on Boardwalk Pipeline Partners in a report on Friday, November 17th. They issued a sell rating and a $14.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $19.71.

Shares of Boardwalk Pipeline Partners (NYSE BWP) traded up $0.18 during trading hours on Tuesday, reaching $13.15. The company had a trading volume of 809,200 shares, compared to its average volume of 1,090,167. 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 company has a market cap of $3,290.00, a P/E ratio of 11.14 and a beta of 0.72. Boardwalk Pipeline Partners has a 1 year low of $12.79 and a 1 year high of $18.95.

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

Institutional investors and hedge funds have recently modified their holdings of the company. BB&T Securities LLC raised its holdings in shares of Boardwalk Pipeline Partners by 36.5% in the 3rd quarter. BB&T Securities LLC now owns 30,160 shares of the pipeline company’s stock worth $443,000 after buying an additional 8,060 shares in the last quarter. Schroder Investment Management Group acquired a new position in shares of Boardwalk Pipeline Partners in the 3rd quarter worth approximately $14,543,000. Goldman Sachs Group Inc. raised its holdings in shares of Boardwalk Pipeline Partners by 3.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,806,459 shares of the pipeline company’s stock worth $68,554,000 after buying an additional 140,629 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Boardwalk Pipeline Partners by 4.3% in the 2nd quarter. California Public Employees Retirement System now owns 240,100 shares of the pipeline company’s stock worth $4,324,000 after buying an additional 10,000 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in shares of Boardwalk Pipeline Partners by 10.7% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 830,674 shares of the pipeline company’s stock worth $12,211,000 after buying an additional 80,500 shares in the last quarter. 97.18% of the stock is owned by institutional investors and hedge funds.

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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.

The Fly

Analyst Recommendations for Boardwalk Pipeline Partners (NYSE:BWP)

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