Boardwalk Pipeline Partners (NYSE:BWP) had its target price reduced by Bank of America from $16.00 to $15.00 in a research note published on Tuesday morning. They currently have a buy rating on the pipeline company’s stock.

Other research analysts have also recently issued reports about the company. Citigroup lowered their price objective on Boardwalk Pipeline Partners from $22.00 to $18.00 and set a buy rating on the stock in a research report on Thursday, November 2nd. TheStreet cut Boardwalk Pipeline Partners from a b- rating to a c+ rating in a research report on Friday, January 19th. Barclays raised Boardwalk Pipeline Partners from an underweight rating to an equal weight rating and set a $16.00 price objective on the stock in a research report on Wednesday, January 17th. Zacks Investment Research raised Boardwalk Pipeline Partners from a sell rating to a hold rating in a research report on Friday, November 10th. Finally, ValuEngine cut Boardwalk Pipeline Partners from a buy rating to a hold rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $18.56.

Boardwalk Pipeline Partners (NYSE:BWP) opened at $11.37 on Tuesday. Boardwalk Pipeline Partners has a 12-month low of $11.00 and a 12-month high of $18.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $2,840.86, a PE ratio of 8.41 and a beta of 0.60.

Boardwalk Pipeline Partners (NYSE:BWP) last posted its quarterly earnings data on Monday, February 12th. The pipeline company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.07). Boardwalk Pipeline Partners had a net margin of 22.46% and a return on equity of 7.42%. The company had revenue of $337.50 million for the quarter, compared to analysts’ expectations of $352.58 million. During the same period in the previous year, the firm earned $0.36 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. sell-side analysts predict that Boardwalk Pipeline Partners will post 1.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 22nd will be issued a $0.10 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $0.40 dividend on an annualized basis and a yield of 3.52%. Boardwalk Pipeline Partners’s dividend payout ratio is presently 34.48%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its holdings in Boardwalk Pipeline Partners by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after purchasing an additional 494 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Boardwalk Pipeline Partners by 0.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 110,753 shares of the pipeline company’s stock worth $1,995,000 after acquiring an additional 641 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Boardwalk Pipeline Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 31,547 shares of the pipeline company’s stock worth $568,000 after acquiring an additional 1,766 shares in the last quarter. Mraz Amerine & Associates Inc. raised its holdings in shares of Boardwalk Pipeline Partners by 4.0% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 134,992 shares of the pipeline company’s stock worth $1,984,000 after acquiring an additional 5,217 shares in the last quarter. Finally, Conning Inc. raised its holdings in shares of Boardwalk Pipeline Partners by 4.9% during the 3rd quarter. Conning Inc. now owns 141,876 shares of the pipeline company’s stock worth $2,086,000 after acquiring an additional 6,617 shares in the last quarter. 98.12% of the stock is currently owned by institutional investors.

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About Boardwalk Pipeline Partners

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.

Analyst Recommendations for Boardwalk Pipeline Partners (NYSE:BWP)

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