BWP

Boardwalk Pipeline Partners LP

Energy


Presented:09/14/2016
Price:$16.52
Cap:$4.13B
Current Price:$12.05
Cap:$1.51B

Presented

Date09/14/2016
Price$16.52
Market Cap$4.13B
Ent Value$7.92B
P/E Ratio15.44x
Book Value$17.41
Div Yield0.02%
Shares O/S250.30M
Ave Daily Vol653,696
Short Int1.76%

Current

Price$12.05
Market Cap$1.51B
Boardwalk Pipeline Partners LP, through its subsidiaries, provides transportation, storage, gathering and processing services for natural gas and natural gas liquids. The company operates interstate natural gas and natural gas liquids pipeline systems, including integrated storage facilities. It serves customers, including producers of natural gas, local distribution companies, marketers, electric power generators, industrial users and intrastate pipelines. The company was founded on August 4, 2005 and is headquartered in Houston, TX.

Publicly traded companies mentioned herein: Boardwalk Pipeline Partners (BWP).

Highlights

Over-levered back in 2014 when the energy crisis hit, Boardwalk was among the first companies in the space to cut its dividend. Although the stock immediately tanked, the move turned out to be the right thing to do, as it provided the company with enough flexibility to completely self-fund up until this point. The presenter believes that Boardwalk’s existing backlog of projects will result in solid DCF generation, and that the eventual return of the stock’s dividend will likely get the stock moving again. Further, he believes the company’s Gulf Crossing pipeline could ultimately be re-contracted at stronger rates than currently expected by the market. 

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Idea Discussion

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