Boardwalk Pipeline Partners LP (BWP) Price Target Cut to $18.00

Cornelia Mascio
Novembre 15, 2017

Royal Bank Of Canada downgraded shares of Boardwalk Pipeline Partners L.P. from an outperform rating to a sector perform rating and dropped their price target for the stock from $22.00 to $18.00 in a research note on Tuesday, August 1st. Goldman Sachs Group Inc. now owns 3,806,459 shares of the pipeline company's stock valued at $68,554,000 after acquiring an additional 140,629 shares during the period.

Several analysts recently commented on the company. BidaskClub upgraded Boardwalk Pipeline Partners L.P. from a hold rating to a buy rating in a research note on Thursday, July 6th. On October 10 Royal Bank Of Canada left the stock rating at "Hold" with a current price target of $18.00. Reliance Trust Co. of DE acquired a new stake in Boardwalk Pipeline Partners L.P. during the second quarter worth approximately $203,000. Finally, ValuEngine downgraded Boardwalk Pipeline Partners L.P. from a "buy" rating to a "hold" rating in a research note on Friday, September 1st.

As of the end of the quarter Alliancebernstein L.P. had bought a total of 2,596 shares growing its position 8.2%. The stock presently has a consensus rating of Hold and a consensus price target of $21.80.

Boardwalk Pipeline Partners L.P. has a 52 week low of $13.40 and a 52 week high of $18.95.

In the market the company is trading down from yesterday's close of 14.3. About 9.94 million shares traded or 19.33% up from the average. Boardwalk Pipeline Partners L.P. The P/E ratio is now 12.11 and market capitalization is 3.57B. Schulhoff Company owns 14,850 shares for 0.16% of their portfolio.

Boardwalk Pipeline Partners L.P. had a return on equity of 6.34% and a net margin of 21.82%. (NYSE:BWP) last announced its earnings results on Monday, October 30th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by $0.01. The company had revenue of $303.30 million for the quarter, compared to analysts' expectations of $299.47 million. During the same quarter in the prior year, the company earned $0.15 EPS. The business's revenue was down.9% compared to the same quarter last year. analysts anticipate that Boardwalk Pipeline Partners L.P. will post 1.39 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by Week Herald and is owned by of Week Herald. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of USA and global trademark and copyright legislation. The correct version of this piece of content can be accessed at https://weekherald.com/2017/11/14/citigroup-inc-cuts-boardwalk-pipeline-partners-l-p-bwp-price-target-to-18-00.html. Investors of record on Thursday, November 9th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. At Bank holds 0.01% or 2,425 shares. Boardwalk Pipeline Partners L.P.

A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Boardwalk Pipeline Partners L.P.by 3.9% in the 2nd quarter. Its investment was worth $13,440,000 a decrease of $2,748,000 as of quarter end. As of the end of the quarter Bush Odonnell Investment Advisors Inc had disposed of a total of 2,127 shares trimming its stake by 16.6%. The firm owned 828,924 shares of the company's stock at the end of the third 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. FMR LLC boosted its holdings in Boardwalk Pipeline Partners L.P.by 8.8% during the second quarter. Balyasny Asset Management LLC now owns 1,285,544 shares of the pipeline company's stock worth $23,153,000 after buying an additional 861,044 shares during the period. Goldman Sachs Group Inc. increased its holdings in Boardwalk Pipeline Partners L.P.by 3.8% in the 2nd quarter. Atlantic Trust Group LLC now owns 4,096,632 shares of the pipeline company's stock valued at $73,780,000 after acquiring an additional 339,460 shares during the period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company.

According to Zacks, "Boardwalk Pipeline Partners LP is a master limited partnership engaged through its subsidiaries, Texas Gas Transmission, LLC and Gulf South Pipeline Company, LP, in the interstate transportation and storage of natural gas". 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 OH, and its NGLs pipelines and storage facilities in Louisiana and Texas.

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