Boston, MA 03\/24\/2014 (wallstreetpr) –\u00a0Boardwalk Pipeline Partners, LP (NYSE:BWP)<\/b> shares were the subject of a large growth in short interest in January, growing by as much as\u00a0 50.6%\u00a0 to clock in at a high of 2.88 million shares as of February 28. Analysts are currently of the opinion, that 1.2% of the company\u2019s stock is short sold. Boardwalk\u2019s short interest ratio currently stands at 1.1, based on average traded volume of 2,622,264 shares.<\/p>\n
Boardwalk Pipeline rating in the market<\/b><\/p>\n
Analysts at Ladenburg-Thalman have recently weighed into the company\u2019s stock consequently reducing their share price target from a high of $36 to a low of $20, they now have a \u201cBuy\u201d rating. Analysts at Citigroup Inc. (NYSE:C)<\/b> on the other hand have upgraded Boardwalk\u2019s stock from a \u201cneutral\u201d rating to a \u201cbuy\u201d with analysts at Janney Montgomery maintaining a \u201cneutral\u201d rating separately.<\/p>\n
Five research equity firms currently have a \u201cSell\u201d rating on Boardwalk Pipeline Partners, LP (NYSE:BWP)\u2019s stock with four separately issuing a \u201cHold\u201d rating, two on the other hand have a \u201cBuy\u201d rating. Boardwalk\u2019s consensus average rating in the market stands at a \u201cHold\u201d with an average price target of $22.28.<\/p>\n
Boardwalk has significantly cut its distribution, something that is sure to give it the much needed financial flexibility to focus on its core operations. Having reduced its distribution by $0.4, Boardwalk is set to have up to $420 million in savings this year.<\/p>\n
Boardwalk\u2019s recent earnings<\/b><\/p>\n
Boardwalk Pipeline Partners, LP (NYSE:BWP) last reported its earnings on February 10, 2014, which were not impressive compared to consensus estimates. The company\u2019s earnings per share fell short of consensus estimates coming in at $0.08 a decline of $0.23 compared to estimates of $0.31.<\/p>\n
Boardwalk\u2019s revenue for the quarter came in at $312.90 million, a drop compared to consensus estimates of $323.28 million. Its revenue on the other hand was 3.9% down on a year over year basis.<\/p>\n
Boardwalk Pipeline Partners, LP (NYSE:BWP) was up on Friday trading session closing the week at a high of $13.32 after going up by 2.30%.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/24\/2014 (wallstreetpr) –\u00a0Boardwalk Pipeline Partners, LP (NYSE:BWP) shares were the subject of a large growth in short interest in January, growing by as […]<\/p>\n","protected":false},"author":15,"featured_media":17906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1942],"tags":[4535,1631,4536,1008],"stock_ticker":[],"class_list":["post-17905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-boardwalk-pipeline-partners-lp-nysebwp","tag-citigroup-inc-nysec","tag-nysebwp","tag-nysec","entry"],"acf":[],"yoast_head":"\n