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Boardwalk Pipeline Partners, LP (BWP) is scheduled to report its Q2 2012 results on July 30, 2012, before market opens. The street expects EPS and revenue of $0.25 and $280.70M, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from BWP and the news from its closest competitors.

Boardwalk Pipeline Partners, LP Revenue and Net Income History

Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last three quarters. In the last quarter it reported $0.45 EPS, beating analyst estimates of $0.43.

Boardwalk Pipeline Partners, LP EPS Historical Results vs Estimates

The consensus EPS estimate is $0.25 based on 15 analysts' estimates, just above $0.24 from a year ago. Revenue estimates are $280.70M, up from $262.00M a year ago. The median target price by analysts for the stock is $29.00.

Average recommendation: Hold

Source: Marketwatch

Latest News

  • On June 8, 2012, Boardwalk Pipeline Partners LP announced that its indirect wholly-owned subsidiary, Gulf South Pipeline Company, LP, priced a private placement of $300 million aggregate principal amount of 4.00% senior notes due 2022.
  • On April 30, 2012, Boardwalk Pipeline Partners LP announced that it has declared a quarterly cash distribution per common unit of $0.5325 ($2.13 annualized) payable on May 17, 2012, to unitholders of record as of May 10, 2012.
  • On February 7, 2012, Boardwalk Pipeline Partners, LP announced that the underwriters of its previously announced public offering of 8,000,000 common units, which closed on January 25, 2012, have exercised their option to purchase an additional 1,200,000 common units.
  • On February 6, 2012, Boardwalk Pipeline Partners, LP announced that it has declared a quarterly cash distribution per common unit of $0.53 ($2.12 annualized) payable on February 23, 2012, to unit holders of record as of February 16, 2012.

Competitors

Enbridge Energy Partners (EEP), Targa Resources Partners (NGLS), Regency Energy Partners (RGP), Spectra Energy (SE), and Western Gas Partners (WES) are competitors for Boardwalk Pipeline Partners and the table below provides the key metrics for these companies and the industry.

Boardwalk Pipeline Partners, LP key ratio comparison with direct competitors

The chart below compares the stock price changes as a percentage for the selected companies for the last one year period.

(click to enlarge)BWP Chart

BWP data by YCharts

Competitors' Latest Development

  • On June 21, 2012, Western Gas Partners LP announced that it has priced its offering of $520,000,000 in aggregate principal amount of 4.00% senior notes due 2022 at a price to the public of 99.194% of their face value.
  • On June 19, 2012, Western Gas Partners LP announced that it has priced its public offering of 5,000,000 common units representing limited partner interests. Western Gas Partners has granted the underwriters a 30-day option to purchase up to 750,000 additional common units.
  • On May 3, 2012, Targa Resources Partners LP announced that it is not modifying fiscal 2012 guidance at this time.
  • On April 25, 2012, Regency Energy Partners LP announced a cash distribution of $0.46 per outstanding common unit for the first quarter ended March 31, 2012. The distribution will be paid on May 14, 2012, to unitholders of record at the close of business on May 7, 2012.
  • On April 12, 2012, Targa Resources Partners LP announced that the Board of Directors of its general partner has declared a quarterly cash distribution of $2.49 per common unit on an annualized basis, for the first quarter 2012.
  • On March 7, 2012, Enbridge Energy Partners LP announced that for fiscal 2012, it expects the earnings to be between $510-$550 million.
  • On February 27, 2012, Western Gas Partners, LP announced that based on current expectations and including the previously announced acquisition of Mountain Gas Resources, LLC effective January 1, 2012, adjusted EBITDA for fiscal 2012 is expected to be between $335 million and $365 million.
  • On February 23, 2012, Targa Resources Partners LP reaffirmed fiscal 2012 EBITDA guidance in a range of $515-$550 million. According to I/B/E/S Estimates, analysts were expecting the Company to report EBITDA of $538 million for fiscal 2012.
  • On February 16, 2012, Energy Transfer Partners, L.P. and Regency Energy Partners LP announced that their joint venture, Lone Star NGL LLC, will construct a second 100,000 barrel per day natural gas liquids (NGL) fractionation facility at Mont Belvieu, Texas.
  • On January 31, 2012, Enbridge Energy Partners LP announced that for fiscal 2012, it expects adjusted net income will be between $510-$550 million, adjusted EBITDA will be between $1.19-$1.25 billion and operating income (EBIT) to be between $870-$910 million.
  • On January 27, 2012, Regency Energy Partners LP announced a cash distribution of $0.46 per outstanding common unit for the fourth quarter ended December 31, 2011. The distribution will be paid on February 13, 2012, to unitholders of record at the close of business on February 6, 2012.
  • On January 26, 2012, Targa Resources Partners LP announced that the Company and its subsidiary Targa Resources Partners Finance Corporation announced today that, subject to market conditions, they intend to sell in an offering in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to persons outside of the United States pursuant to Regulation S under the Securities Act, $400 million in aggregate principal amount of senior unsecured notes due 2022.
  • On January 26, 2012, Targa Resources Partners LP announced that the Company and its subsidiary Targa Resources Partners Finance Corporation announced the pricing of $400 million of senior unsecured notes.

Technical Overview


The stock has a market capitalization of $6.04B and is currently trading at $29.07 with a 52 week range of $23.54 - $29.43. The stock's year-to-date performance has been 9.24%. It is currently trading above 20, 50 and 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Boardwalk Pipeline Partners