UP!

BWP $12.05   View long term graphs

Boardwalk Pipeline Partners, LP
Type
Public
Traded as NYSE: BWP
Industry Energy
Founded 2005
Headquarters Houston, Texas, U.S.
Key people
Stanley C. Horton, President and CEO
Products Natural gas and natural gas liquids
Revenue $1,307.2 mil (FY2016)
Net income
$302.2 mil (FY2016)
Total assets SteadyUS$8.6 billion (FY2016)
Number of employees
1,280 dec'16
Parent Loews Corporation
Website www.bwpmlp.com

Boardwalk Pipeline Partners, LP is an energy company based in Houston, Texas. It is a master limited partnership operating in the midstream portion of the natural gas and natural gas liquids (NGLs) industry, primarily providing transportation and storage for those commodities. Boardwalk owns approximately 14,365 miles (23,118 km) of natural gas and NGLs pipelines and underground storage caverns having aggregate capacity of approximately 205 billion cubic feet (Bcf) of working natural gas and 24.0 million barrels (MMbbls) of NGLs. Boardwalk's pipeline system originates in the Gulf Coast region, Oklahoma and Arkansas and extends north and east to the Midwestern states of Tennessee, Kentucky, Illinois, Indiana, and Ohio, and Boardwalk's NGLs pipeline and storage facilities are located in Louisiana and Texas. Boardwalk's common units are traded under the symbol "BWP" on the New York Stock Exchange (NYSE).

The general partner for Boardwalk Pipeline Partners is Boardwalk GP, LP, which is indirectly owned by Loews Corporation for 100 percent. The common units, class B and general partner interest indirectly owned by Loews Corporation represent approximately 53 percent of the equity interests, excluding the incentive distribution rights.

Boardwalk serves a broad mix of customers, including producers of natural gas, local distribution companies (LDCs), marketers, electric power generators, industrial users and interstate and intrastate pipelines. Boardwalk provides a significant portion of pipeline transportation and storage services through firm contracts under which customers pay monthly capacity reservation charges (which are charges owed regardless of actual pipeline or storage capacity utilization). Other charges are based on actual utilization of the capacity under firm contracts and contracts for interruptible services. For the twelve months ended December 31, 2016, approximately 81% of revenues were derived from capacity reservation charges under firm contracts, approximately 12% of revenues were derived from charges based on actual utilization under firm contracts and approximately 7% of revenues were derived from interruptible transportation, interruptible storage, parking and lending (PAL) and other services.

Boardwalk has the following operating subsidiaries:

Loews Corporation (NYSE: L) bought Texas Gas Transmission, LLC in May 2003 and Gulf South Pipeline Company, LP in December 2004. These two interstate natural gas pipeline companies were consolidated into a new entity – Boardwalk Pipeline Partners, LP – which went public in 2005. Boardwalk placed into service a third interstate natural gas pipeline company, Gulf Crossing Pipeline Company LLC, in 2009. In 2011, Boardwalk acquired the Petal and Hattiesburg natural gas storage companies, which were merges into Gulf South in 2015. In 2012, Boardwalk acquired Boardwalk Louisiana Midstream, LLC, which diversified Boardwalk's operations into the natural gas liquids business, serving petrochemical markets in southern Louisiana. In 2014, Boardwalk acquired Evangeline ethylene pipeline system, further expanding Boardwalk's service offerings to petrochemical customers. Boardwalk Field Services, LLC develops and operates gas gathering, compression, dehydration, treating, and processing infrastructure, and in June 2013 placed its processing plant into service.

The current members of the board of directors for Boardwalk Pipeline Partners, LP are William R. Cordes, Stanley C. Horton, Thomas E. Hyland, Arthur L. Rebell, Peter W. Keegan, Mark L. Shapiro, Kenneth I. Siegel and Andrew H. Tish.

News

Boardwalk Pipeline Partners, LP (basic materials)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2018 2018-10-31 Future report Set alerts
Q2 2018 2018-07-30 Future report Set alerts
Q1 2018 2018-04-30 0.38 0.38
Q4 2017 2018-02-12 0.33 0.33
Q3 2017 2017-10-30 0.27 0.27
Q2 2017 2017-07-31 0.28 0.09
Q1 2017 2017-05-01 0.47 0.47
Q4 2016 2017-02-06 0.36 0.35
Q3 2016 2016-10-31 0.19 0.19
Q2 2016 2016-08-01 0.26 0.26

Ratings

2016-05-27 Boost Price Target JPMorgan Chase & Co. Overweight $19.00 to $21.00
2016-04-13 Initiated Coverage Barclays Underweight $15.00
2016-04-13 Initiated Coverage Barclays PLC Underweight $15.00
2016-04-12 Reiterated Rating Drexel Hamilton Buy $18.00
2016-04-06 Initiated Coverage Drexel Hamilton Buy $18.00
2016-02-09 Reiterated Rating Credit Suisse Outperform $26.00 to $20.00
2016-02-09 Reiterated Rating Credit Suisse Group AG Outperform $26.00 to $20.00
2015-09-21 Lower Price Target RBC Capital Outperform $25.00 to $24.00
2015-09-21 Lower Price Target Royal Bank Of Canada Outperform $25.00 to $24.00
2015-09-01 Lower Price Target Bank of America Buy $21.00 to $18.00
2015-09-01 Lower Price Target Bank of America Corp. Buy $21.00 to $18.00
2015-08-13 Lower Price Target JPMorgan Chase & Co. $24.00 to $23.00
2015-03-25 Boost Price Target Barclays Underweight $15.00 to $16.00
2015-02-10 Set Price Target Credit Suisse Buy $24.00 to $25.00
2014-11-07 Reiterated Rating Citigroup Inc. Buy $22.00 to $21.00
2014-10-15 Upgrade Bank of America Neutral to Buy
2014-10-15 Reiterated Rating Barclays Underweight $14.00 to $15.00
2014-08-06 Reiterated Rating Citigroup Inc. Buy $18.50 to $22.00
2014-08-05 Boost Price Target Credit Suisse Outperform $20.00 to $24.00
2014-08-05 Boost Price Target RBC Capital Outperform $22.00 to $25.00
2014-07-02 Reiterated Rating JPMorgan Chase & Co. Overweight $18.00 to $24.00
2014-04-29 Reiterated Rating Citigroup Inc. Buy $18.50
2014-04-29 Upgrade Morgan Stanley Underweight to Equal Weight $14.00 to $17.00
2014-04-29 Upgrade Raymond James Underperform to Market Perform
2014-04-29 Upgrade Credit Suisse Underperform to Outperform $15.00 to $20.00
2014-04-21 Upgrade RBC Capital Mkts Sector Perform to Outperform $14 to $22
2014-04-21 Upgrade RBC Capital Sector Perform to Outperform $14.00 to $22.00
2014-04-17 Upgrade JPMorgan Chase & Co. Underweight to Overweight $14.00 to $18.00
2014-04-14 Upgrade Bank of America Underperform to Neutral $14.00 to $16.00
2014-02-11 Lower Price Target Ladenburg Thalmann Buy $36.00 to $20.00
2014-02-11 Reiterated Deutsche Bank Sell $20 to $12
2014-02-11 Upgrade Citigroup Inc. Neutral to Buy
2014-02-11 Downgrade Janney Montgomery Scott Buy to Neutral
2014-02-10 Downgrade Deutsche Bank Hold to Sell $20.00 to $12.00
2014-02-10 Downgrade Credit Suisse Neutral to Underperform $32.00 to $20.00
2013-10-31 Downgrade Barclays Equal Weight to Underweight $32.00 to $27.00
2013-10-29 Lower Price Target RBC Capital Sector Perform $31.00 to $30.00
2013-10-28 Downgrade JPMorgan Chase & Co. Neutral to Underweight
2013-04-15 Reiterated Deutsche Bank Hold $28 to $31
2013-01-11 Reiterated Deutsche Bank Hold $27 to $28
2012-10-17 Resumed Barclays Equal Weight $29
2012-04-17 Initiated Global Hunter Securities Neutral $26
2011-12-05 Upgrade Morgan Keegan Mkt Perform to Outperform
2011-11-01 Reiterated Barclays Capital Equal Weight $27 to $29
2011-10-31 Downgrade Morgan Keegan Outperform to Mkt Perform
2011-10-12 Upgrade Morgan Keegan Mkt Perform to Outperform $30 to $29
2011-10-11 Reiterated Barclays Capital Equal Weight $30 to $27
2011-09-19 Upgrade UBS Neutral to Buy $28.50 to $28.50
2011-05-03 Downgrade UBS Buy to Neutral $36 to $33.50
2010-10-26 Reiterated RBC Capital Mkts Sector Perform $31 to $30
2010-10-25 Upgrade Ladenburg Thalmann Neutral to Buy $34 to $37
2010-08-25 Initiated Oppenheimer Perform
2010-04-27 Reiterated Credit Suisse Outperform $35 to $33
2010-04-27 Downgrade Morgan Keegan Outperform to Mkt Perform
2016-05-27 Boost Price Target JPMorgan Chase & Co. Overweight $19.00 to $21.00
2016-04-13 Initiated Coverage Barclays Underweight $15.00
2016-04-13 Initiated Coverage Barclays PLC Underweight $15.00
2016-04-12 Reiterated Rating Drexel Hamilton Buy $18.00
2016-04-06 Initiated Coverage Drexel Hamilton Buy $18.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks

Comments