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 | US$8.6 billion (FY2016) |
Number of employees
|
1,280 dec'16 |
Parent | Loews Corporation |
Website | www |
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.
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
In BWP 16 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
Center Coast Capital Advisors, LP | 1.40M |
TPH Asset Management, LLC | 1.35M |
BLACKROCK ADVISORS LLC | 0.49M |
PEAK6 Investments, L.P. | 0.27M |
Global X Management CO LLC | 90524 |
Panning Capital Management, LP | 83100 |
Cantab Capital Partners LLP | 58269 |
BURNHAM ASSET MANAGEMENT CORP /NY/ | 52100 |
COHEN & STEERS CAPITAL MANAGEMENT INC | 32803 |
Spot Trading L.L.C | 28658 |
BAIRD ROBERT W & CO INC /WI/ | 20850 |
DREMAN VALUE MANAGEMENT, L L C | 11684 |
MetLife Securities, Inc | 1390 |
NEW ENGLAND SECURITIES CORP /MA/ | 720 |
Dunvegan Associates, Inc. | 175 |