Boardwalk Pipeline Partners (NYSE: BWP) shares currently have a dividend yield of 8.50%. Boardwalk Pipeline Partners, LP, through its subsidiaries, engages in the ownership and operation of integrated natural gas and natural gas liquids (NGLs) pipelines, and storage systems in the United States. The company also transports, stores, gathers, and processes natural gas and NGLs. The company has a P/E ratio of 19.60. The average volume for Boardwalk Pipeline Partners has been 512,900 shares per day over the past 30 days. Boardwalk Pipeline Partners has a market cap of $6.1 billion and is part of the energy industry. Shares are down 2.4% year-to-date as of the close of trading on Thursday. TheStreet Ratings rates Boardwalk Pipeline Partners as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Highlights from the ratings report include:
- BWP's revenue growth has slightly outpaced the industry average of 5.4%. Since the same quarter one year prior, revenues slightly increased by 1.8%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
- The gross profit margin for BOARDWALK PIPELINE PRTNRS-LP is rather high; currently it is at 62.40%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 22.61% significantly outperformed against the industry average.
- The net income growth from the same quarter one year ago has significantly exceeded that of the Oil, Gas & Consumable Fuels industry average, but is less than that of the S&P 500. The net income increased by 7.0% when compared to the same quarter one year prior, going from $58.20 million to $62.30 million.
- BWP's debt-to-equity ratio of 0.81 is somewhat low overall, but it is high when compared to the industry average, implying that the management of the debt levels should be evaluated further. Regardless of the somewhat mixed results with the debt-to-equity ratio, the company's quick ratio of 0.72 is weak.
- BOARDWALK PIPELINE PRTNRS-LP's earnings per share declined by 19.2% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, BOARDWALK PIPELINE PRTNRS-LP increased its bottom line by earning $1.37 versus $1.09 in the prior year. For the next year, the market is expecting a contraction of 13.6% in earnings ($1.18 versus $1.37).
- You can view the full Boardwalk Pipeline Partners Ratings Report.
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