Boardwalk Pipeline +3% as Cramer endorses

Boardwalk Pipeline Partners (NYSE:BWP+3% premarket, apparently thanks to Jim Cramer's recommendation on last night's MadMoney as a growth pipeline play and potential takeover target.

Cramer likes BWP's $1.2B spent on acquisitions over the past two years, which should generate great synergies, and thinks new projects underway, such as plans to reverse a pipeline between Ohio and Louisiana, could boost the bottom line.

BWP sold off earlier in the year when it announced plans to cut its distribution, but he believes BWP made the right decision: "By investing in growth, they'll be able to boost the distribution much more dramatically once these investments start paying off."

Also, "with Kinder Morgan buying up all of its master limited partnership subsidiaries, I can see someone buying Boardwalk, too," Cramer adds.

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Comments (4)
  • Dividend Growth Jedi
    , contributor
    Comments (525) | Send Message
    Talk about calling it late..already went up like 60%
    12 Aug 2014, 09:17 AM Reply Like
  • El Luchador
    , contributor
    Comments (156) | Send Message
    Loews owns over half of BWP units and all of the GP so there is no way it can be taken over. Loews would have to agree to sell it, which it would not do at anywhere near the current price.
    12 Aug 2014, 04:15 PM Reply Like
  • TGC004
    , contributor
    Comments (457) | Send Message
    That was my take as well, demonstrates that Cramer must not have done his homework.
    12 Aug 2014, 06:15 PM Reply Like
  • BigT6661
    , contributor
    Comments (559) | Send Message
    Cramer was late to the party, but it's still cheap. After the first dividend bump, it will soar. It will be trading in the 30's by sometime in 2016.
    16 Aug 2014, 03:51 PM Reply Like
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