Global X Management Co. LLC Raises Position in Boardwalk Pipeline Partners, LP (BWP)

Global X Management Co. LLC increased its position in shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,128 shares of the pipeline company’s stock after purchasing an additional 9,400 shares during the quarter. Global X Management Co. LLC’s holdings in Boardwalk Pipeline Partners were worth $905,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of 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 during the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Boardwalk Pipeline Partners in the fourth quarter worth $114,000. Cetera Investment Advisers acquired a new position in shares of Boardwalk Pipeline Partners in the second quarter worth $248,000. BB&T Securities LLC raised its holdings in shares of Boardwalk Pipeline Partners by 36.5% in the third quarter. BB&T Securities LLC now owns 30,160 shares of the pipeline company’s stock worth $443,000 after acquiring an additional 8,060 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Boardwalk Pipeline Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 31,547 shares of the pipeline company’s stock worth $568,000 after acquiring an additional 1,766 shares during the last quarter.

Shares of Boardwalk Pipeline Partners, LP (BWP) opened at $11.10 on Tuesday. The company has a market capitalization of $2,778.29, a price-to-earnings ratio of 8.22 and a beta of 0.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.64 and a quick ratio of 0.64. Boardwalk Pipeline Partners, LP has a 1 year low of $10.92 and a 1 year high of $18.79.

Boardwalk Pipeline Partners (NYSE:BWP) last announced its quarterly earnings data on Monday, February 12th. The pipeline company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.07). The business had revenue of $337.50 million during the quarter, compared to analysts’ expectations of $352.58 million. Boardwalk Pipeline Partners had a net margin of 22.46% and a return on equity of 7.38%. Boardwalk Pipeline Partners’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. analysts expect that Boardwalk Pipeline Partners, LP will post 1.25 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 22nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, February 21st. Boardwalk Pipeline Partners’s dividend payout ratio is currently 34.48%.

A number of equities analysts have recently weighed in on BWP shares. Goldman Sachs Group started coverage on Boardwalk Pipeline Partners in a report on Friday, November 17th. They issued a “sell” rating and a $14.00 price target for the company. Credit Suisse Group started coverage on Boardwalk Pipeline Partners in a report on Thursday, January 4th. They issued a “neutral” rating and a $15.00 price target for the company. Zacks Investment Research raised Boardwalk Pipeline Partners from a “sell” rating to a “hold” rating in a report on Friday, November 10th. ValuEngine downgraded Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Bank of America initiated coverage on Boardwalk Pipeline Partners in a research report on Tuesday, January 9th. They issued a “buy” rating for the company. 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 company. The company presently has a consensus rating of “Hold” and an average price target of $18.56.

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Boardwalk Pipeline Partners Company 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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Institutional Ownership by Quarter for Boardwalk Pipeline Partners (NYSE:BWP)

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