Equities analysts predict that Boardwalk Pipeline Partners (NYSE:BWP) will announce $348.26 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Boardwalk Pipeline Partners’ earnings, with the lowest sales estimate coming in at $340.50 million and the highest estimate coming in at $354.50 million. Boardwalk Pipeline Partners reported sales of $367.00 million during the same quarter last year, which suggests a negative year over year growth rate of 5.1%. The business is scheduled to announce its next earnings report before the market opens on Monday, April 30th.
On average, analysts expect that Boardwalk Pipeline Partners will report full year sales of $1.30 billion for the current financial year, with estimates ranging from $1.26 billion to $1.32 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.31 billion per share, with estimates ranging from $1.25 billion to $1.39 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Boardwalk Pipeline Partners.
Boardwalk Pipeline Partners (NYSE:BWP) last announced its earnings results on Monday, February 12th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Boardwalk Pipeline Partners had a net margin of 22.46% and a return on equity of 7.38%. The business had revenue of $337.50 million during the quarter, compared to analysts’ expectations of $352.58 million. During the same period in the previous year, the company posted $0.36 earnings per share. Boardwalk Pipeline Partners’s quarterly revenue was down 4.3% on a year-over-year basis.
A number of brokerages have recently issued reports on BWP. ValuEngine lowered shares of Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Bank of America dropped their price target on shares of Boardwalk Pipeline Partners from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, March 27th. UBS reiterated a “buy” rating and set a $17.00 price target (down from $18.00) on shares of Boardwalk Pipeline Partners in a research note on Friday, March 2nd. Barclays set a $14.00 price target on shares of Boardwalk Pipeline Partners and gave the stock a “hold” rating in a research note on Monday, February 12th. Finally, TheStreet lowered shares of Boardwalk Pipeline Partners from a “b-” rating to a “c+” rating in a research note on Friday, January 19th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.22.
Institutional investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC acquired a new position in Boardwalk Pipeline Partners during the fourth quarter worth about $114,000. Sheaff Brock Investment Advisors LLC acquired a new position in Boardwalk Pipeline Partners during the fourth quarter worth about $129,000. The Manufacturers Life Insurance Company grew its position in Boardwalk Pipeline Partners by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 7,374 shares of the pipeline company’s stock worth $133,000 after buying an additional 494 shares during the period. Icon Wealth Partners LLC acquired a new position in Boardwalk Pipeline Partners during the fourth quarter worth about $165,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Boardwalk Pipeline Partners during the fourth quarter worth about $168,000. Institutional investors and hedge funds own 93.69% of the company’s stock.
Shares of NYSE:BWP traded up $0.12 on Friday, reaching $10.95. The company’s stock had a trading volume of 111,336 shares, compared to its average volume of 1,287,973. Boardwalk Pipeline Partners has a 52-week low of $9.85 and a 52-week high of $18.79. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $2,638.12, a price-to-earnings ratio of 8.02 and a beta of 0.66.
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About Boardwalk Pipeline Partners
Boardwalk Pipeline Partners, LP, through its subsidiaries, owns and operates integrated natural gas and natural gas liquids and other hydrocarbons (NGLs) pipeline and storage systems in the United States. It operates interstate natural gas and NGLs pipeline systems, and integrated storage facilities, which are located in the Gulf Coast region, Oklahoma, Arkansas and the Midwestern states of Tennessee, Kentucky, Illinois, Indiana and Ohio.
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