Why Boardwalk Pipeline (BWP) Stock Is Up Today

NEW YORK (TheStreet) -- Boradwalk Pipeline (BWP) shares are up 3.4% to $16.26 in early market trading on Monday.

The increase follows the interstate natural gas pipeline owner and operator shares being upgraded to "outperform" from "sector perform" by analysts at RBC Capital.

The firm raised its price target to $22 from $14.

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"While the challenging environment in the natural gas base business and the associated limited near-to-medium distribution growth potential are negatives, we believe BWP is well-positioned to benefit from strong demand for natural gas pipeline reversals. We expect BWP to achieve its targeted credit metrics by 2016, at which point we forecast a distribution increase," said analysts at the firm. 

TheStreet Ratings team rates BOARDWALK PIPELINE PRTNRS-LP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate BOARDWALK PIPELINE PRTNRS-LP (BWP) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its expanding profit margins over time. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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