Ameriprise Financial Inc. reduced its holdings in shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) by 28.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,043 shares of the pipeline company’s stock after selling 43,068 shares during the period. Ameriprise Financial Inc.’s holdings in Boardwalk Pipeline Partners were worth $1,566,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of 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 valued at $133,000 after purchasing an additional 494 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in shares of Boardwalk Pipeline Partners by 0.3% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock valued at $202,000 after purchasing an additional 31 shares during the last quarter. Rafferty Asset Management LLC acquired a new position in shares of Boardwalk Pipeline Partners in the 2nd quarter valued at $211,000. Cetera Investment Advisers acquired a new position in shares of Boardwalk Pipeline Partners in the 2nd quarter valued at $248,000. Finally, HAP Trading LLC acquired a new position in shares of Boardwalk Pipeline Partners in the 2nd quarter valued at $280,000. 98.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boardwalk Pipeline Partners, LP (BWP) traded down $0.09 on Wednesday, hitting $12.56. 1,048,825 shares of the stock were exchanged, compared to its average volume of 1,390,000. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $3,140.00, a P/E ratio of 10.64 and a beta of 0.72. Boardwalk Pipeline Partners, LP has a 1-year low of $12.51 and a 1-year 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, beating the Zacks’ consensus estimate of $0.26 by $0.01. Boardwalk Pipeline Partners had a net margin of 22.50% and a return on equity of 7.55%. The business had revenue of $300.50 million during the quarter, compared to the consensus estimate of $324.85 million. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue was down .9% compared to the same quarter last year. equities analysts forecast that Boardwalk Pipeline Partners, LP will post 1.4 EPS for the current fiscal year.
Several research analysts have recently issued reports on BWP shares. UBS Group restated a “buy” rating and issued a $18.00 target price (down previously from $22.00) on shares of Boardwalk Pipeline Partners in a report on Wednesday, October 4th. Royal Bank of Canada reiterated a “hold” rating and set a $18.00 price target on shares of Boardwalk Pipeline Partners in a research note on Tuesday, October 10th. Zacks Investment Research cut shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Citigroup decreased their price target on shares of Boardwalk Pipeline Partners from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Finally, Goldman Sachs Group began coverage on shares of Boardwalk Pipeline Partners in a research note on Friday, November 17th. They set a “sell” rating and a $14.00 price target for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.25.
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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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