Boardwalk Pipeline Partners,’s (BWP) “Buy” Rating Reaffirmed at Royal Bank of Canada
Royal Bank of Canada reiterated their buy rating on shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) in a research note released on Tuesday. Royal Bank of Canada currently has a $21.00 price target on the stock.
A number of other equities research analysts have also recently weighed in on BWP. TheStreet raised Boardwalk Pipeline Partners, from a c+ rating to a b- rating in a research note on Thursday, March 9th. Zacks Investment Research raised Boardwalk Pipeline Partners, from a sell rating to a hold rating in a research note on Tuesday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $18.71.
Shares of Boardwalk Pipeline Partners, (NYSE:BWP) opened at 17.87 on Tuesday. The firm has a 50-day moving average price of $18.38 and a 200-day moving average price of $17.49. The stock has a market capitalization of $4.47 billion, a PE ratio of 15.11 and a beta of 0.75. Boardwalk Pipeline Partners, has a 1-year low of $13.30 and a 1-year high of $18.95.
Boardwalk Pipeline Partners, (NYSE:BWP) last issued its quarterly earnings data on Monday, February 6th. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. Boardwalk Pipeline Partners, had a return on equity of 6.81% and a net margin of 23.12%. The business earned $352.60 million during the quarter, compared to analysts’ expectations of $333.96 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts forecast that Boardwalk Pipeline Partners, will post $1.31 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Thursday, February 23rd. Investors of record on Thursday, February 16th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, February 14th. This represents a $0.40 annualized dividend and a yield of 2.24%. Boardwalk Pipeline Partners,’s payout ratio is 33.33%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its position in Boardwalk Pipeline Partners, by 215.0% in the third quarter. Advisory Services Network LLC now owns 6,458 shares of the company’s stock valued at $111,000 after buying an additional 4,408 shares during the last quarter. BB&T Corp bought a new position in Boardwalk Pipeline Partners, during the third quarter valued at approximately $172,000. Ingalls & Snyder LLC bought a new position in Boardwalk Pipeline Partners, during the third quarter valued at approximately $190,000. Berkley W R Corp bought a new position in Boardwalk Pipeline Partners, during the fourth quarter valued at approximately $204,000. Finally, Eqis Capital Management Inc. bought a new position in Boardwalk Pipeline Partners, during the third quarter valued at approximately $209,000. 92.58% of the stock is owned by hedge funds and other institutional investors.
Boardwalk Pipeline Partners, 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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