Pointe Capital Management LLC Sells 21,406 Shares of Boardwalk Pipeline Partners, LP (BWP)

Pointe Capital Management LLC decreased its position in shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) by 27.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 56,520 shares of the pipeline company’s stock after selling 21,406 shares during the quarter. Pointe Capital Management LLC’s holdings in Boardwalk Pipeline Partners were worth $730,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GSA Capital Partners LLP boosted its position in Boardwalk Pipeline Partners by 151.5% during the third quarter. GSA Capital Partners LLP now owns 37,988 shares of the pipeline company’s stock valued at $558,000 after purchasing an additional 22,884 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Boardwalk Pipeline Partners by 60.5% during the third quarter. Neuberger Berman Group LLC now owns 181,391 shares of the pipeline company’s stock valued at $2,666,000 after purchasing an additional 68,350 shares in the last quarter. Castleton Investment Management LLC boosted its position in Boardwalk Pipeline Partners by 9.2% during the third quarter. Castleton Investment Management LLC now owns 201,000 shares of the pipeline company’s stock valued at $2,955,000 after purchasing an additional 17,000 shares in the last quarter. BB&T Securities LLC boosted its position in Boardwalk Pipeline Partners by 36.5% during the third quarter. BB&T Securities LLC now owns 30,160 shares of the pipeline company’s stock valued at $443,000 after purchasing an additional 8,060 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in Boardwalk Pipeline Partners during the third quarter valued at about $847,000. 97.18% of the stock is currently owned by institutional investors and hedge funds.

Shares of Boardwalk Pipeline Partners, LP (BWP) traded up $0.03 during mid-day trading on Friday, reaching $13.72. The company had a trading volume of 2,100,000 shares, compared to its average volume of 1,680,000. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. Boardwalk Pipeline Partners, LP has a 12 month low of $12.79 and a 12 month high of $18.95. The company has a market capitalization of $3,430.00, a P/E ratio of 11.63 and a beta of 0.72.

Boardwalk Pipeline Partners (NYSE:BWP) last released its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Boardwalk Pipeline Partners had a return on equity of 7.55% and a net margin of 22.50%. The company had revenue of $300.50 million during the quarter, compared to analysts’ expectations of $324.85 million. During the same period last year, the business posted $0.19 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. sell-side analysts predict that Boardwalk Pipeline Partners, LP will post 1.41 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the company. Bank of America assumed coverage on Boardwalk Pipeline Partners in a research report on Tuesday. They set a “buy” rating on the stock. Credit Suisse Group assumed coverage on Boardwalk Pipeline Partners in a research report on Thursday, January 4th. They set a “neutral” rating and a $15.00 price objective on the stock. ValuEngine downgraded Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Goldman Sachs Group assumed coverage on Boardwalk Pipeline Partners in a research report on Friday, November 17th. They set a “sell” rating and a $14.00 price objective on the stock. Finally, Zacks Investment Research raised Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $19.71.

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

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