Municipal Employees Retirement System of Michigan Purchases 29,690 Shares of Boardwalk Pipeline Partners L.P. (BWP)

Municipal Employees Retirement System of Michigan increased its position in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 17.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 199,390 shares of the pipeline company’s stock after acquiring an additional 29,690 shares during the quarter. Municipal Employees Retirement System of Michigan owned about 0.08% of Boardwalk Pipeline Partners L.P. worth $2,931,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Atlantic Trust Group LLC increased its holdings in Boardwalk Pipeline Partners L.P. by 9.0% in the 2nd quarter. Atlantic Trust Group LLC now owns 4,096,632 shares of the pipeline company’s stock worth $73,780,000 after acquiring an additional 339,460 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Boardwalk Pipeline Partners L.P. by 3.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,806,459 shares of the pipeline company’s stock worth $68,554,000 after acquiring an additional 140,629 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Boardwalk Pipeline Partners L.P. by 3.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,940,534 shares of the pipeline company’s stock worth $34,949,000 after acquiring an additional 73,627 shares during the last quarter. California Public Employees Retirement System increased its holdings in Boardwalk Pipeline Partners L.P. by 4.3% in the 2nd quarter. California Public Employees Retirement System now owns 240,100 shares of the pipeline company’s stock worth $4,324,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Cbre Clarion Securities LLC purchased a new stake in Boardwalk Pipeline Partners L.P. in the 2nd quarter worth about $1,913,000. 93.58% of the stock is owned by institutional investors.

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Shares of Boardwalk Pipeline Partners L.P. (NYSE BWP) traded down $0.03 during midday trading on Monday, reaching $14.55. The company’s stock had a trading volume of 882,400 shares, compared to its average volume of 808,098. Boardwalk Pipeline Partners L.P. has a fifty-two week low of $13.40 and a fifty-two week high of $18.95. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77. The company has a market cap of $3,590.00, a P/E ratio of 10.62 and a beta of 0.74.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. The firm had revenue of $300.50 million during the quarter, compared to the consensus estimate 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 last year, the company posted $0.19 EPS. equities research analysts predict that Boardwalk Pipeline Partners L.P. will post 1.39 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Thursday, November 9th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.75%. Boardwalk Pipeline Partners L.P.’s dividend payout ratio (DPR) is presently 33.90%.

Several research analysts have commented on the company. UBS AG restated a “buy” rating and issued a $18.00 target price (down previously from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a research note on Wednesday, October 4th. Citigroup Inc. cut their target price on Boardwalk Pipeline Partners L.P. from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Boardwalk Pipeline Partners L.P. from a “sell” rating to a “hold” rating in a research note on Friday. Royal Bank Of Canada restated a “hold” rating and issued a $18.00 target price on shares of Boardwalk Pipeline Partners L.P. in a research note on Wednesday, September 6th. Finally, ValuEngine downgraded Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Boardwalk Pipeline Partners L.P. currently has an average rating of “Hold” and an average target price of $21.80.

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.

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

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