Ladenburg Thalmann Downgrades Boardwalk Pipeline Partners LP to Neutral

Brokerage firm Ladenburg Thalmann Downgrades its rating on Boardwalk Pipeline Partners LP(NYSE:BWP). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Ladenburg Thalmann was issued on Jul 21, 2016.

In a different note, On May 27, 2016, JP Morgan said it Maintains its rating on Boardwalk Pipeline Partners LP. In the research note, the firm Raises the price-target to $19.00 per share. The shares have been rated ‘Overweight’ by the firm.

Boardwalk Pipeline Partners LP (BWP) shares turned negative on Wednesdays trading session with the shares closing down -0.13 points or -0.74% at a volume of 3,24,135. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.46. The peak price level was also seen at $17.46 while the days lowest was $17.17. Finally the shares closed at $17.34. The 52-week high of the shares is $18.16 while the 52-week low is $8.86. According to the latest information available, the market cap of the company is $4,340 M.

Boardwalk Pipeline Partners LP(BWP) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $345.00M. Analysts had an estimated revenue of $334.34M. Earnings per share were $0.40. Analysts had estimated an EPS of $0.35.

Several Insider Transactions has been reported to the SEC. On Aug 26, 2015, Kenneth I Siegel (director) purchased 20,000 shares at $12.91 per share price.Also, On Aug 10, 2015, Stanley C Horton (CEO) purchased 2,000 shares at $13.44 per share price.

Boardwalk Pipeline Partners LP is a limited partnership company. The Company’s business is conducted by its primary subsidiary Boardwalk Pipelines LP (Boardwalk Pipelines) and its subsidiaries Gulf Crossing Pipeline Company LLC Gulf South Pipeline Company LP Texas Gas Transmission LLC Boardwalk Field Services LLC Petal Gas Storage L.L.C Boardwalk Louisiana Midstream LLC and Boardwalk Storage Company LLC. The Company’s business includes integrated natural gas and natural gas liquids (NGLs) pipeline and storage systems and natural gas gathering and processing. The Company’s pipeline systems originate in the Gulf Coast region Oklahoma and Arkansas and extend north and east to the Midwestern states of Tennessee Kentucky Illinois Indiana and Ohio. It serves a mix of customers including producers of natural gas local distribution companies (LDCs) marketers electric power generators industrial users and interstate and intrastate pipelines.

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