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Trade-Ideas: Boardwalk Pipeline Partners (BWP) Is Today's Pre-Market Mover With Heavy Volume Stock

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Boardwalk Pipeline Partners ( BWP) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Boardwalk Pipeline Partners as such a stock due to the following factors:

  • BWP has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.8 million.
  • BWP traded 145,188 shares today in the pre-market hours as of 8:26 AM, representing 26.2% of its average daily volume.

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More details on BWP:

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 stock currently has a dividend yield of 8.8%. BWP has a PE ratio of 19.0. Currently there are 2 analysts that rate Boardwalk Pipeline Partners a buy, 5 analysts rate it a sell, and 4 rate it a hold.

The average volume for Boardwalk Pipeline Partners has been 653,000 shares per day over the past 30 days. Boardwalk Pipeline has a market cap of $5.9 billion and is part of the basic materials sector and energy industry. The stock has a beta of 0.79 and a short float of 1.5% with 2.86 days to cover. Shares are down 6% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Boardwalk Pipeline Partners as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and weak operating cash flow.

Highlights from the ratings report include:

  • BWP's revenue growth has slightly outpaced the industry average of 1.9%. 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.
  • 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.
  • Reflecting the weaknesses we have cited, including the decline in the company's earnings per share, BWP has underperformed the S&P 500 Index, declining 12.99% from its price level of one year ago. Looking ahead, we do not see anything in this company's numbers that would change the one-year trend. It was down over the last twelve months; and it could be down again in the next twelve. Naturally, a bull or bear market could sway the movement of this stock.
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. In comparison to the other companies in the Oil, Gas & Consumable Fuels industry and the overall market, BOARDWALK PIPELINE PRTNRS-LP's return on equity is significantly below that of the industry average and is below that of the S&P 500.

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