Boardwalk Pipeline Partners L.P. (BWP) To Go Ex-Dividend on November 8th
Boardwalk Pipeline Partners L.P. (NYSE:BWP) announced a quarterly dividend on Monday, October 30th, RTT News reports. Shareholders of record on Thursday, November 9th will be given a dividend of 0.10 per share by the pipeline company on Thursday, November 16th. This represents a $0.40 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, November 8th.
Boardwalk Pipeline Partners L.P. has decreased its dividend payment by an average of 48.0% annually over the last three years. Boardwalk Pipeline Partners L.P. has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Boardwalk Pipeline Partners L.P. to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 31.0%.
Boardwalk Pipeline Partners L.P. (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 L.P. 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.
A number of equities analysts have recently issued reports on BWP shares. UBS AG reissued a “buy” rating and issued a $18.00 target price (down from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a report on Wednesday, October 4th. Zacks Investment Research cut Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a report on Friday, October 20th. ValuEngine cut Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $18.00 target price on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.80.
A hedge fund recently raised its stake in Boardwalk Pipeline Partners L.P. stock. The Manufacturers Life Insurance Company raised its position in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 7.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 7,374 shares of the pipeline company’s stock after buying an additional 494 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Boardwalk Pipeline Partners L.P. were worth $133,000 as of its most recent filing with the SEC. 93.72% of the stock is currently owned by institutional investors and hedge funds.
About Boardwalk Pipeline Partners L.P.
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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