Zacks Investment Research upgraded shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) from a sell rating to a hold rating in a report published on Friday.

According to Zacks, “Boardwalk Pipeline Partners LP is a master limited partnership engaged through its subsidiaries, Texas Gas Transmission, LLC and Gulf South Pipeline Company, LP, in the interstate transportation and storage of natural gas. “

A number of other analysts have also commented on BWP. BidaskClub lowered Boardwalk Pipeline Partners L.P. from a sell rating to a strong sell rating in a report on Wednesday, August 9th. Royal Bank Of Canada lowered Boardwalk Pipeline Partners L.P. from an outperform rating to a sector perform rating and decreased their price objective for the stock from $22.00 to $18.00 in a report on Tuesday, August 1st. Citigroup Inc. decreased their price objective on Boardwalk Pipeline Partners L.P. from $22.00 to $18.00 and set a buy rating for the company in a report on Thursday, November 2nd. UBS AG reissued a buy rating and set a $18.00 price objective (down from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a report on Wednesday, October 4th. Finally, ValuEngine lowered Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Boardwalk Pipeline Partners L.P. presently has a consensus rating of Hold and a consensus price target of $21.80.

Boardwalk Pipeline Partners L.P. (BWP) opened at $14.30 on Friday. Boardwalk Pipeline Partners L.P. has a 52 week low of $13.40 and a 52 week high of $18.95. 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 firm has a market capitalization of $3,641.81, a P/E ratio of 10.62 and a beta of 0.74.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last posted its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Boardwalk Pipeline Partners L.P. had a return on equity of 7.55% and a net margin of 22.50%. The business had revenue of $300.50 million for the quarter, compared to the consensus estimate of $324.85 million. During the same period in the prior year, the business earned $0.19 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. analysts anticipate that Boardwalk Pipeline Partners L.P. will post 1.39 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Wednesday, November 8th. Boardwalk Pipeline Partners L.P.’s dividend payout ratio is currently 33.90%.

Several hedge funds have recently added to or reduced their stakes in BWP. The Manufacturers Life Insurance Company grew its holdings in shares of Boardwalk Pipeline Partners L.P. by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock valued at $133,000 after acquiring an additional 494 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Boardwalk Pipeline Partners L.P. by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock valued at $202,000 after acquiring an additional 31 shares in the last quarter. Rafferty Asset Management LLC bought a new position in shares of Boardwalk Pipeline Partners L.P. in the second quarter valued at approximately $211,000. Creative Planning grew its holdings in shares of Boardwalk Pipeline Partners L.P. by 6.5% in the second quarter. Creative Planning now owns 13,072 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 800 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of Boardwalk Pipeline Partners L.P. in the second quarter valued at approximately $248,000. 93.58% of the stock is owned by institutional investors.

Boardwalk Pipeline Partners L.P. Company Profile

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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