Wells Fargo Q2 Review on Boardwalk Pipeline Partners (BWP); Dividend Maintained For First Time is Real Story
Tweet Send to a FriendGet Alerts BWP Hot Sheet
Price: $30.73 --0%
Rating Summary:
3 Buy, 5 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 9 | New: 10
Rating Summary:
3 Buy, 5 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 9 | New: 10
Trade BWP Now!
Wells Fargo maintains a 'Market Perform' on Boardwalk Pipeline Partners (NYSE: BWP) price target range $26-$29.
Analyst, Sharon Lui, said, "Q2 operating results were above our forecast primarily due to lower than anticipated operating costs. BWP elected to maintain its distribution in Q2, which was below our expectations. The temporary halt in distribution growth is based on management’s view that natural gas fundamentals are likely to remain weak in the near term. We are raising our 2012 and 2013 DCF per unit ests to $2.16 and $2.23, respectively, from $2.07 and $2.18 to reflect the positive Q2 variance and our expectation that a portion of the reduction in Q2 2012 operating costs will persist into the future."
For an analyst ratings summary and ratings history on Boardwalk Pipeline Partners click here. For more ratings news on Boardwalk Pipeline Partners click here.
Shares of Boardwalk Pipeline Partners closed at $29.03 yesterday, with a 52 week range of $23.55-$29.43.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Sharon Lui, said, "Q2 operating results were above our forecast primarily due to lower than anticipated operating costs. BWP elected to maintain its distribution in Q2, which was below our expectations. The temporary halt in distribution growth is based on management’s view that natural gas fundamentals are likely to remain weak in the near term. We are raising our 2012 and 2013 DCF per unit ests to $2.16 and $2.23, respectively, from $2.07 and $2.18 to reflect the positive Q2 variance and our expectation that a portion of the reduction in Q2 2012 operating costs will persist into the future."
For an analyst ratings summary and ratings history on Boardwalk Pipeline Partners click here. For more ratings news on Boardwalk Pipeline Partners click here.
Shares of Boardwalk Pipeline Partners closed at $29.03 yesterday, with a 52 week range of $23.55-$29.43.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Urban Outfitters (URBN) Added to Best Ideas List at Janney Capital on Solid Q1 Results
- Goldman Sachs Upgrades Meritor (MTOR) to Buy
- Jefferies Raises PT on Aeropostale (ARO) Ahead of Q1
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, DividendsRelated Entities
Dividend, Wells Fargo
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
