Today, Boardwalk Pipeline Partners, LP (BWP) Position Decreased by California Public Employees Retirement System

Today, Boardwalk Pipeline Partners, LP (BWP) Position Decreased by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of Boardwalk Pipeline Partners, LP (NYSE:BWP) by 5.5% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 258,300 shares of the company’s stock after selling 14,900 shares during the period. California Public Employees Retirement System owned 0.10% of Boardwalk Pipeline Partners, worth $4,432,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BWP. Spirit of America Management Corp NY increased its position in Boardwalk Pipeline Partners, by 13.5% in the third quarter. Spirit of America Management Corp NY now owns 589,300 shares of the company’s stock valued at $10,112,000 after buying an additional 70,100 shares during the period. Boyer & Corporon Wealth Management LLC increased its position in Boardwalk Pipeline Partners, by 4.3% in the second quarter. Boyer & Corporon Wealth Management LLC now owns 59,740 shares of the company’s stock valued at $1,042,000 after buying an additional 2,462 shares during the period. Boston Partners acquired a new position in Boardwalk Pipeline Partners, during the second quarter valued at $53,965,000. Harvest Fund Advisors LLC increased its position in Boardwalk Pipeline Partners, by 30.4% in the second quarter. Harvest Fund Advisors LLC now owns 7,677,544 shares of the company’s stock valued at $133,973,000 after buying an additional 1,788,218 shares during the period. Finally, ING Groep NV increased its position in Boardwalk Pipeline Partners, by 3.6% in the second quarter. ING Groep NV now owns 7,338,580 shares of the company’s stock valued at $128,132,000 after buying an additional 251,630 shares during the period.

Boardwalk Pipeline Partners, LP (NYSE:BWP) traded down 0.82% during midday trading on Friday, reaching $16.99. 80,934 shares of the company were exchanged. Boardwalk Pipeline Partners, LP has a 52-week low of $8.86 and a 52-week high of $18.16. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 15.52 and a beta of 0.80. The firm’s 50-day moving average price is $16.85 and its 200 day moving average price is $16.96.

Boardwalk Pipeline Partners, (NYSE:BWP) last announced its quarterly earnings results on Monday, October 31st. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm earned $303.30 million during the quarter, compared to the consensus estimate of $299.47 million. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. Equities analysts predict that Boardwalk Pipeline Partners, LP will post $1.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 10th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.35%. The ex-dividend date was Tuesday, November 8th.

BWP has been the subject of several recent research reports. Barclays PLC raised their target price on shares of Boardwalk Pipeline Partners, from $15.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Boardwalk Pipeline Partners, from a “sell” rating to a “hold” rating and set a $19.00 target price for the company in a report on Wednesday, August 3rd. Credit Suisse Group AG restated a “neutral” rating on shares of Boardwalk Pipeline Partners, in a report on Tuesday, August 16th. Finally, Janney Montgomery Scott initiated coverage on shares of Boardwalk Pipeline Partners, in a report on Thursday, September 29th. They set a “neutral” rating and a $18.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Boardwalk Pipeline Partners, currently has an average rating of “Hold” and an average target price of $18.57.

About Boardwalk Pipeline Partners,

Boardwalk Pipeline Partners, LP is a limited partnership company. The Company conducts business through its primary subsidiary, Boardwalk Pipelines, LP, and its subsidiaries, Gulf South Pipeline Company, LP, Texas Gas Transmission, LLC, Gulf Crossing Pipeline Company LLC, Boardwalk Louisiana Midstream, LLC, Boardwalk Petrochemical Pipeline, LLC and Boardwalk Field Services, LLC.

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