Magnetar Financial LLC Sells 2,818,570 Shares of Boardwalk Pipeline Partners L.P. (BWP)

Magnetar Financial LLC cut its stake in Boardwalk Pipeline Partners L.P. (NYSE:BWP) by 80.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 701,676 shares of the pipeline company’s stock after selling 2,818,570 shares during the quarter. Magnetar Financial LLC owned about 0.28% of Boardwalk Pipeline Partners worth $10,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BWP. Sheaff Brock Investment Advisors LLC lifted its stake in Boardwalk Pipeline Partners by 0.3% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,241 shares of the pipeline company’s stock worth $202,000 after purchasing an additional 31 shares during the last quarter. CNH Partners LLC lifted its stake in Boardwalk Pipeline Partners by 0.3% during the second quarter. CNH Partners LLC now owns 37,302 shares of the pipeline company’s stock worth $672,000 after purchasing an additional 100 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 purchasing an additional 494 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in Boardwalk Pipeline Partners by 3.2% during the second quarter. Proficio Capital Partners LLC now owns 15,989 shares of the pipeline company’s stock worth $262,000 after purchasing an additional 500 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its stake in Boardwalk Pipeline Partners by 0.5% during the second quarter. Neuberger Berman Group LLC now owns 113,041 shares of the pipeline company’s stock worth $2,036,000 after purchasing an additional 562 shares during the last quarter. Institutional investors own 97.18% of the company’s stock.

Several equities research analysts have issued reports on BWP shares. Citigroup dropped their price target on 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. UBS reaffirmed a “buy” rating and set a $18.00 price target (down previously from $22.00) on shares of Boardwalk Pipeline Partners in a research note on Wednesday, October 4th. Goldman Sachs Group initiated coverage on Boardwalk Pipeline Partners in a research note on Friday, November 17th. They issued a “sell” rating and a $14.00 target price for the company. Zacks Investment Research lowered Boardwalk Pipeline Partners from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Finally, ValuEngine lowered Boardwalk Pipeline Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Boardwalk Pipeline Partners L.P. (NYSE:BWP) opened at $12.91 on Thursday. The company has a market capitalization of $3,313.92, a P/E ratio of 9.66 and a beta of 0.72. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77. Boardwalk Pipeline Partners L.P. has a 52-week low of $12.82 and a 52-week high of $18.95.

Boardwalk Pipeline Partners (NYSE:BWP) last released its quarterly earnings results on Monday, October 30th. The pipeline company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $300.50 million during the quarter, compared to analyst estimates of $324.85 million. Boardwalk Pipeline Partners had a return on equity of 7.55% and a net margin of 22.50%. Boardwalk Pipeline Partners’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 EPS. equities research analysts forecast that Boardwalk Pipeline Partners L.P. will post 1.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Thursday, November 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, November 8th. Boardwalk Pipeline Partners’s payout ratio is 33.90%.

COPYRIGHT VIOLATION WARNING: “Magnetar Financial LLC Sells 2,818,570 Shares of Boardwalk Pipeline Partners L.P. (BWP)” was reported by Stock Observer and is owned by of Stock Observer. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this piece of content can be read at https://www.thestockobserver.com/2017/12/07/magnetar-financial-llc-sells-2818570-shares-of-boardwalk-pipeline-partners-l-p-bwp.html.

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.

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

Receive News & Ratings for Boardwalk Pipeline Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boardwalk Pipeline Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply