Pointe Capital Management LLC raised its stake in shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 188.3% during the second quarter, Holdings Channel reports. The firm owned 79,391 shares of the pipeline company’s stock after buying an additional 51,856 shares during the period. Boardwalk Pipeline Partners L.P. accounts for 1.0% of Pointe Capital Management LLC’s portfolio, making the stock its 27th largest position. Pointe Capital Management LLC’s holdings in Boardwalk Pipeline Partners L.P. were worth $1,430,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Global X Management Co. LLC raised its position in Boardwalk Pipeline Partners L.P. by 28.8% in the second quarter. Global X Management Co. LLC now owns 774,619 shares of the pipeline company’s stock valued at $13,951,000 after buying an additional 173,026 shares during the period. Sei Investments Co. increased its stake in shares of Boardwalk Pipeline Partners L.P. by 3,682.9% in the second quarter. Sei Investments Co. now owns 26,480 shares of the pipeline company’s stock valued at $477,000 after buying an additional 25,780 shares in the last quarter. Barnett & Company Inc. increased its stake in shares of Boardwalk Pipeline Partners L.P. by 66.3% in the second quarter. Barnett & Company Inc. now owns 60,944 shares of the pipeline company’s stock valued at $1,098,000 after buying an additional 24,300 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in shares of Boardwalk Pipeline Partners L.P. by 99.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 276,400 shares of the pipeline company’s stock valued at $4,978,000 after buying an additional 138,000 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. increased its stake in shares of Boardwalk Pipeline Partners L.P. by 9.3% in the second quarter. Mraz Amerine & Associates Inc. now owns 129,775 shares of the pipeline company’s stock valued at $2,337,000 after buying an additional 11,000 shares in the last quarter. Institutional investors and hedge funds own 98.72% of the company’s stock.

Shares of Boardwalk Pipeline Partners L.P. (NYSE BWP) opened at 15.63 on Thursday. Boardwalk Pipeline Partners L.P. has a 52 week low of $15.48 and a 52 week high of $18.95. The stock has a 50 day moving average of $17.22 and a 200 day moving average of $17.91. The stock has a market cap of $3.91 billion, a P/E ratio of 14.33 and a beta of 0.76.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its quarterly earnings data on Monday, July 31st. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.01. The company had revenue of $317.60 million during the quarter, compared to analysts’ expectations of $315.12 million. Boardwalk Pipeline Partners L.P. had a net margin of 20.78% and a return on equity of 7.14%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. On average, analysts expect that Boardwalk Pipeline Partners L.P. will post $1.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 8th. This represents a $0.40 dividend on an annualized basis and a yield of 2.56%. Boardwalk Pipeline Partners L.P.’s dividend payout ratio (DPR) is presently 36.36%.

COPYRIGHT VIOLATION WARNING: “Pointe Capital Management LLC Boosts Position in Boardwalk Pipeline Partners L.P. (NYSE:BWP)” was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/pointe-capital-management-llc-boosts-position-in-boardwalk-pipeline-partners-l-p-nysebwp/1469640.html.

Several brokerages have recently weighed in on BWP. ValuEngine downgraded shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Monday, July 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $21.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research note on Thursday, April 13th. Wells Fargo & Company reissued an “outperform” rating and issued a $35.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research note on Tuesday, May 9th. Finally, BidaskClub raised shares of Boardwalk Pipeline Partners L.P. from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Boardwalk Pipeline Partners L.P. presently has a consensus rating of “Hold” and an average target price of $22.75.

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.

Want to see what other hedge funds are holding BWP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boardwalk Pipeline Partners L.P. (NYSE:BWP).

Institutional Ownership by Quarter for Boardwalk Pipeline Partners L.P. (NYSE:BWP)

Receive News & Ratings for Boardwalk Pipeline Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boardwalk Pipeline Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.