Investors Buy High Volume of Put Options on Boardwalk Pipeline Partners (NYSE:BWP)

Boardwalk Pipeline Partners, LP (NYSE:BWP) saw some unusual options trading activity on Monday. Traders acquired 3,203 put options on the stock. This is an increase of 1,560% compared to the typical volume of 193 put options.

Shares of Boardwalk Pipeline Partners (NYSE BWP) traded down $0.44 on Friday, reaching $12.06. 1,107,181 shares of the company were exchanged, compared to its average volume of 1,410,000. Boardwalk Pipeline Partners has a one year low of $12.05 and a one year high of $18.95. The company has a market cap of $3,020.00, a price-to-earnings ratio of 10.22 and a beta of 0.60. 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 (NYSE:BWP) last announced its quarterly earnings data on Monday, October 30th. The pipeline company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $300.50 million during the quarter, compared to analyst estimates of $324.85 million. During the same quarter last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. equities analysts predict that Boardwalk Pipeline Partners will post 1.4 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in BWP. Center Coast Capital Advisors LP increased its position in Boardwalk Pipeline Partners by 74,628.0% during the 4th quarter. Center Coast Capital Advisors LP now owns 1,398,908 shares of the pipeline company’s stock valued at $18,060,000 after purchasing an additional 1,397,036 shares during the period. SeaCrest Wealth Management LLC purchased a new position in Boardwalk Pipeline Partners during the 4th quarter valued at about $114,000. Maple Brown Abbott Ltd increased its position in Boardwalk Pipeline Partners by 39.1% during the 4th quarter. Maple Brown Abbott Ltd now owns 7,224,294 shares of the pipeline company’s stock valued at $93,266,000 after purchasing an additional 2,031,267 shares during the period. Bank of Montreal Can increased its position in Boardwalk Pipeline Partners by 13.2% during the 4th quarter. Bank of Montreal Can now owns 2,346,950 shares of the pipeline company’s stock valued at $30,299,000 after purchasing an additional 274,000 shares during the period. Finally, Starfire Investment Advisers Inc. purchased a new position in Boardwalk Pipeline Partners during the 4th quarter valued at about $730,000. Institutional investors own 98.09% of the company’s stock.

Several equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $18.00 target price 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. Goldman Sachs Group assumed coverage on shares of Boardwalk Pipeline Partners in a research note on Friday, November 17th. They issued a “sell” rating and a $14.00 price objective for the company. Citigroup dropped their price objective 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, Barclays upgraded shares of Boardwalk Pipeline Partners from an “underweight” rating to an “equal weight” rating and set a $16.00 target price for the company in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average 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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