Sheaff Brock Investment Advisors LLC acquired a new position in Boardwalk Pipeline Partners, LP (NYSE:BWP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,020 shares of the pipeline company’s stock, valued at approximately $129,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Schroder Investment Management Group boosted its holdings in Boardwalk Pipeline Partners by 107.4% in the 4th quarter. Schroder Investment Management Group now owns 2,066,300 shares of the pipeline company’s stock worth $26,676,000 after buying an additional 1,070,217 shares during the period. Magnolia Group LLC bought a new position in Boardwalk Pipeline Partners in the 4th quarter worth approximately $51,132,000. Global X Management Co. LLC boosted its holdings in Boardwalk Pipeline Partners by 15.5% in the 4th quarter. Global X Management Co. LLC now owns 70,128 shares of the pipeline company’s stock worth $905,000 after buying an additional 9,400 shares during the period. Wells Fargo & Company MN boosted its holdings in Boardwalk Pipeline Partners by 249.4% in the 4th quarter. Wells Fargo & Company MN now owns 254,177 shares of the pipeline company’s stock worth $3,282,000 after buying an additional 181,420 shares during the period. Finally, Texas Yale Capital Corp. bought a new position in Boardwalk Pipeline Partners in the 4th quarter worth approximately $420,000.
Boardwalk Pipeline Partners, LP (BWP) opened at $11.45 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.78. Boardwalk Pipeline Partners, LP has a fifty-two week low of $10.92 and a fifty-two week high of $18.79. The company has a market cap of $2,865.89, a price-to-earnings ratio of 8.48 and a beta of 0.60.
Boardwalk Pipeline Partners (NYSE:BWP) last announced its quarterly earnings results on Monday, February 12th. The pipeline company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.07). Boardwalk Pipeline Partners had a net margin of 22.46% and a return on equity of 7.38%. The firm had revenue of $337.50 million during the quarter, compared to the consensus estimate of $352.58 million. During the same period in the previous year, the business earned $0.36 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. equities research analysts anticipate that Boardwalk Pipeline Partners, LP will post 1.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 22nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, February 21st. Boardwalk Pipeline Partners’s payout ratio is 34.48%.
Several research firms recently commented on BWP. Barclays set a $14.00 price objective on shares of Boardwalk Pipeline Partners and gave the stock a “hold” rating in a report on Monday, February 12th. Credit Suisse Group assumed coverage on shares of Boardwalk Pipeline Partners in a report on Thursday, January 4th. They issued a “neutral” rating and a $15.00 price objective for the company. Goldman Sachs Group assumed coverage on shares of Boardwalk Pipeline Partners in a report on Friday, November 17th. They issued a “sell” rating and a $14.00 price target for the company. Bank of America assumed coverage on shares of Boardwalk Pipeline Partners in a report on Tuesday, January 9th. They issued a “buy” rating for the company. Finally, TheStreet downgraded shares of Boardwalk Pipeline Partners from a “b-” rating to a “c+” rating in a report on Friday, January 19th. Three 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 company. The stock currently has an average rating of “Hold” and a consensus price target of $18.56.
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Boardwalk Pipeline Partners 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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