Barclays Reinstated Boardwalk Pipeline Partners (BWP) at Equalweight

Barclays reinstated coverage on Boardwalk Pipeline Partners (NYSE: BWP) with a Equalweight. PT $29.00.

"We believe the newly completed acquisition of PL Midstream provides an entry point for the partnership into NGL/olefin storage/transportation and diversifies its asset base, which was primarily exposed only to natural gas transportation and storage prior to the transaction," the analyst said. "We expect the company to leverage the newly purchased assets with bolt-on projects and expansions, which should better position BWP to resume cash distribution increases in 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 $26.92 yesterday.

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