Creative Planning raised its stake in shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,072 shares of the pipeline company’s stock after buying an additional 800 shares during the period. Creative Planning’s holdings in Boardwalk Pipeline Partners L.P. were worth $235,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of BWP. Advisory Services Network LLC acquired a new position in shares of Boardwalk Pipeline Partners L.P. during the first quarter valued at $117,000. Sheaff Brock Investment Advisors LLC increased its position in shares of Boardwalk Pipeline Partners L.P. by 0.3% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,210 shares of the pipeline company’s stock valued at $205,000 after buying an additional 31 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Boardwalk Pipeline Partners L.P. during the first quarter valued at $230,000. Stifel Financial Corp acquired a new position in shares of Boardwalk Pipeline Partners L.P. during the first quarter valued at $243,000. Finally, Usca Ria LLC increased its position in shares of Boardwalk Pipeline Partners L.P. by 15.2% in the first quarter. Usca Ria LLC now owns 15,208 shares of the pipeline company’s stock valued at $278,000 after buying an additional 2,008 shares during the period. Institutional investors own 98.57% of the company’s stock.

Shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) traded down 1.04% on Friday, reaching $16.19. The company’s stock had a trading volume of 661,473 shares. The stock has a 50-day moving average of $17.41 and a 200 day moving average of $18.00. Boardwalk Pipeline Partners L.P. has a 1-year low of $15.99 and a 1-year high of $18.95. The stock has a market capitalization of $4.05 billion, a PE ratio of 14.84 and a beta of 0.76.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 10th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.40 dividend on an annualized basis and a yield of 2.47%. Boardwalk Pipeline Partners L.P.’s payout ratio is 36.36%.

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Several brokerages have weighed in on BWP. Royal Bank Of Canada downgraded Boardwalk Pipeline Partners L.P. from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $22.00 to $18.00 in a report on Tuesday, August 1st. BidaskClub downgraded Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research downgraded Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. ValuEngine downgraded Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $35.00 price target on shares of Boardwalk Pipeline Partners L.P. in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus 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.

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

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