Bank of America initiated coverage on shares of Boardwalk Pipeline Partners (NYSE:BWP) in a research report report published on Tuesday, January 9th, The Fly reports. The brokerage issued a buy rating on the pipeline company’s stock.
Several other equities research analysts have also commented on the stock. Credit Suisse Group began coverage on shares of Boardwalk Pipeline Partners in a research note on Thursday, January 4th. They issued a neutral rating and a $15.00 price target on the stock. ValuEngine lowered shares of Boardwalk Pipeline Partners from a buy rating to a hold rating in a research note on Sunday, December 31st. Goldman Sachs Group started 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 objective on the stock. Zacks Investment Research upgraded shares of Boardwalk Pipeline Partners from a sell rating to a hold rating in a research note on Friday, November 10th. Finally, Citigroup lowered their price objective on shares of Boardwalk Pipeline Partners from $22.00 to $18.00 and set a buy rating on the stock in a research note on Thursday, November 2nd. Three 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. Boardwalk Pipeline Partners currently has a consensus rating of Hold and an average price target of $19.25.
Shares of Boardwalk Pipeline Partners (NYSE:BWP) opened at $12.06 on Tuesday. Boardwalk Pipeline Partners has a 12 month low of $12.05 and a 12 month high of $18.95. The company has a market cap of $3,018.57, a P/E ratio of 8.80 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.
Institutional investors have recently bought and sold shares of the stock. BB&T Securities LLC boosted its stake in Boardwalk Pipeline Partners by 36.5% in the 3rd quarter. BB&T Securities LLC now owns 30,160 shares of the pipeline company’s stock worth $443,000 after purchasing an additional 8,060 shares during the period. Schroder Investment Management Group acquired a new position in Boardwalk Pipeline Partners in the 3rd quarter worth approximately $14,543,000. Goldman Sachs Group Inc. boosted its stake in Boardwalk Pipeline Partners by 3.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,806,459 shares of the pipeline company’s stock worth $68,554,000 after purchasing an additional 140,629 shares during the period. California Public Employees Retirement System boosted its stake in shares of Boardwalk Pipeline Partners by 4.3% during the 2nd quarter. California Public Employees Retirement System now owns 240,100 shares of the pipeline company’s stock valued at $4,324,000 after buying an additional 10,000 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in shares of Boardwalk Pipeline Partners by 60.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 181,391 shares of the pipeline company’s stock valued at $2,666,000 after buying an additional 68,350 shares during the period. 98.09% of the stock is owned by hedge funds and other 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.
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