Boardwalk Pipeline Partners (BWP) Reports Strong Growth

Natural gas transportation and storage company Boardwalk Pipeline Partners, LP (NYSE: BWP) released financial results on Monday morning that beat Wall Street estimates.

Boardwalk Pipeline Partners reported that its 1st quarter earnings climbed to $90.3 million, or 46 cents per share, up from $52 million, or 29 cents per share, a year earlier.

Revenue growth was also strong, jumping to $300.5 million, up from $223.4 million a year earlier.

According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 39 cents per share, on revenue of $284 million.

At $30.36, shares of Boardwalk Pipeline Partners were trading slightly above the previous trading day's close of $30.11 per share on heavy volume.