Investors Buy Large Volume of Boardwalk Pipeline Partners Put Options (BWP)

Boardwalk Pipeline Partners, LP (NYSE:BWP) saw some unusual options trading on Monday. Investors bought 3,203 put options on the stock. This represents an increase of approximately 1,560% compared to the typical daily volume of 193 put options.

A number of large investors have recently made changes to their positions in BWP. The Manufacturers Life Insurance Company boosted its holdings in Boardwalk Pipeline Partners by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after acquiring an additional 494 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its stake in shares of Boardwalk Pipeline Partners by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 31 shares during the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Boardwalk Pipeline Partners in the second quarter worth approximately $211,000. Cetera Investment Advisers purchased a new stake in shares of Boardwalk Pipeline Partners in the second quarter worth approximately $248,000. Finally, HAP Trading LLC purchased a new stake in shares of Boardwalk Pipeline Partners in the second quarter worth approximately $280,000. Institutional investors and hedge funds own 97.18% of the company’s stock.

Several equities research analysts recently commented on BWP shares. Zacks Investment Research lowered Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Royal Bank of Canada restated a “hold” rating and set a $18.00 target price on shares of Boardwalk Pipeline Partners in a research report on Tuesday, October 10th. Citigroup cut their target price 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. UBS Group restated a “buy” rating and set a $18.00 target price (down previously from $22.00) on shares of Boardwalk Pipeline Partners in a research report on Wednesday, October 4th. Finally, ValuEngine lowered Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $19.71.

Boardwalk Pipeline Partners (NYSE:BWP) opened at $13.07 on Thursday. The stock has a market capitalization of $3,290.00, a P/E ratio of 11.08 and a beta of 0.72. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.77. Boardwalk Pipeline Partners has a fifty-two week low of $12.79 and a fifty-two week high of $18.95.

Boardwalk Pipeline Partners (NYSE:BWP) last announced its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The business had revenue of $300.50 million for the quarter, compared to analyst estimates of $324.85 million. Boardwalk Pipeline Partners had a return on equity of 7.55% and a net margin of 22.50%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. equities analysts expect that Boardwalk Pipeline Partners will post 1.41 EPS for the current year.

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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.

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