Boardwalk Pipeline Partners L.P. (BWP) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) from a hold rating to a buy rating in a research report report published on Thursday morning.

A number of other research analysts also recently issued reports on BWP. Zacks Investment Research upgraded Boardwalk Pipeline Partners L.P. from a hold rating to a buy rating and set a $20.00 price objective for the company in a report on Monday, July 3rd. Royal Bank Of Canada reiterated a buy rating and set a $22.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, June 6th. ValuEngine downgraded Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a report on Friday, June 2nd. Wells Fargo & Company reiterated an outperform rating and set a $35.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, May 9th. Finally, TheStreet upgraded Boardwalk Pipeline Partners L.P. from a c+ rating to a b- rating in a report on Thursday, March 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $21.33.

Boardwalk Pipeline Partners L.P. (BWP) opened at 17.41 on Thursday. Boardwalk Pipeline Partners L.P. has a 1-year low of $15.97 and a 1-year high of $18.95. The firm’s 50-day moving average price is $17.80 and its 200 day moving average price is $18.08. The stock has a market cap of $4.36 billion, a PE ratio of 13.87 and a beta of 0.77.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last released its quarterly earnings results on Monday, May 1st. The pipeline company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.06. The company had revenue of $367 million for the quarter, compared to analyst estimates of $354.09 million. Boardwalk Pipeline Partners L.P. had a return on equity of 7.10% and a net margin of 24.11%. Boardwalk Pipeline Partners L.P.’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. Equities research analysts expect that Boardwalk Pipeline Partners L.P. will post $1.40 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its position in Boardwalk Pipeline Partners L.P. by 451.0% in the fourth quarter. Renaissance Technologies LLC now owns 420,995 shares of the pipeline company’s stock worth $7,308,000 after buying an additional 344,595 shares in the last quarter. GSA Capital Partners LLP increased its position in Boardwalk Pipeline Partners L.P. by 102.4% in the fourth quarter. GSA Capital Partners LLP now owns 48,381 shares of the pipeline company’s stock worth $840,000 after buying an additional 24,482 shares in the last quarter. Spirit of America Management Corp NY increased its position in Boardwalk Pipeline Partners L.P. by 13.8% in the first quarter. Spirit of America Management Corp NY now owns 731,750 shares of the pipeline company’s stock worth $13,398,000 after buying an additional 88,650 shares in the last quarter. Sigma Planning Corp increased its position in Boardwalk Pipeline Partners L.P. by 0.7% in the first quarter. Sigma Planning Corp now owns 17,301 shares of the pipeline company’s stock worth $317,000 after buying an additional 113 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Boardwalk Pipeline Partners L.P. by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 52,691 shares of the pipeline company’s stock worth $965,000 after buying an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 99.06% of the company’s stock.

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.

Analyst Recommendations for Boardwalk Pipeline Partners L.P. (NYSE:BWP)

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