Zacks Investment Research upgraded shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) from a sell rating to a hold rating in a research note published on Friday morning.

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. “

A number of other research firms also recently weighed in on BWP. 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. BidaskClub downgraded shares of Boardwalk Pipeline Partners L.P. from a sell rating to a strong sell rating in a research note on Wednesday, August 9th. UBS AG reaffirmed a buy rating and issued a $18.00 price target (down from $22.00) on shares of Boardwalk Pipeline Partners L.P. in a research note on Wednesday, October 4th. ValuEngine downgraded shares of Boardwalk Pipeline Partners L.P. from a buy rating to a hold rating in a research note on Friday, September 1st. Finally, Citigroup Inc. dropped their price target on shares of Boardwalk Pipeline Partners L.P. from $22.00 to $18.00 and set a buy rating on the stock in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $21.80.

Shares of Boardwalk Pipeline Partners L.P. (BWP) opened at $14.55 on Friday. Boardwalk Pipeline Partners L.P. has a 52-week low of $13.40 and a 52-week high of $18.95. The company has a market capitalization of $3,641.81, a price-to-earnings ratio of 10.62 and a beta of 0.74. 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 L.P. (NYSE:BWP) last announced its earnings results on Monday, October 30th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. Boardwalk Pipeline Partners L.P. had a net margin of 22.50% and a return on equity of 7.55%. The company had revenue of $300.50 million for the quarter, compared to the consensus estimate of $324.85 million. During the same period in the previous year, the business earned $0.19 EPS. The company’s revenue was down .9% on a year-over-year basis. sell-side analysts forecast that Boardwalk Pipeline Partners L.P. will post 1.39 earnings per share for the current fiscal year.

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

A number of hedge funds have recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its holdings in Boardwalk Pipeline Partners L.P. by 11.3% during the third quarter. Alps Advisors Inc. now owns 10,095,933 shares of the pipeline company’s stock valued at $148,410,000 after acquiring an additional 1,021,142 shares during the period. FMR LLC boosted its holdings in Boardwalk Pipeline Partners L.P. by 8.8% during the second quarter. FMR LLC now owns 9,824,830 shares of the pipeline company’s stock valued at $176,945,000 after acquiring an additional 795,622 shares during the period. Maple Brown Abbott Ltd boosted its holdings in Boardwalk Pipeline Partners L.P. by 28.8% during the third quarter. Maple Brown Abbott Ltd now owns 5,193,027 shares of the pipeline company’s stock valued at $76,337,000 after acquiring an additional 1,162,584 shares during the period. Atlantic Trust Group LLC boosted its holdings in Boardwalk Pipeline Partners L.P. by 9.0% during the second 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. Finally, Goldman Sachs Group Inc. boosted its holdings in Boardwalk Pipeline Partners L.P. by 3.8% during the second quarter. 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. Institutional investors own 93.58% of the company’s stock.

Boardwalk Pipeline Partners L.P. 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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