Boardwalk Pipeline Partners L.P. (NYSE:BWP) declared a quarterly dividend on Monday, July 31st, NASDAQ reports. Shareholders of record on Thursday, August 10th will be paid a dividend of 0.10 per share by the pipeline company on Thursday, August 17th. This represents a $0.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, August 8th.
Boardwalk Pipeline Partners L.P. has decreased its dividend payment by an average of 48.0% annually over the last three years. Boardwalk Pipeline Partners L.P. has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Boardwalk Pipeline Partners L.P. to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 26.7%.
Boardwalk Pipeline Partners L.P. (NYSE:BWP) opened at 14.85 on Friday. Boardwalk Pipeline Partners L.P. has a one year low of $14.78 and a one year high of $18.95. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 13.61 and a beta of 0.76. The firm has a 50-day moving average price of $16.75 and a 200-day moving average price of $17.75.
Boardwalk Pipeline Partners L.P. (NYSE:BWP) last issued its quarterly earnings data on Monday, July 31st. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business had revenue of $317.60 million for the quarter, compared to analysts’ expectations of $315.12 million. Boardwalk Pipeline Partners L.P. had a net margin of 20.78% and a return on equity of 7.14%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share. Analysts expect that Boardwalk Pipeline Partners L.P. will post $1.42 EPS for the current year.
Several research firms have recently commented on BWP. Zacks Investment Research downgraded shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Wells Fargo & Company reiterated an “outperform” rating and issued a $35.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a research report on Tuesday, May 9th. ValuEngine cut shares of Boardwalk Pipeline Partners L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $22.00 price objective on shares of Boardwalk Pipeline Partners L.P. in a research note on Tuesday, June 6th. Finally, BidaskClub cut shares of Boardwalk Pipeline Partners L.P. from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $22.75.
A hedge fund recently raised its stake in Boardwalk Pipeline Partners L.P. stock. The Manufacturers Life Insurance Company increased its position in shares of Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,374 shares of the pipeline company’s stock after buying an additional 494 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Boardwalk Pipeline Partners L.P. were worth $133,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 99.03% of the company’s stock.
Boardwalk Pipeline Partners L.P. 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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