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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Boardwalk Pipeline Partners LP Common Units | AMEX:BWP | AMEX | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0 | - |
From May 2019 to May 2024
DOW JONES NEWSWIRES
Boardwalk Pipeline Partners LP announced that Loews Corp. (L) will buy $147 million of units, further boosting its majority stake in the pipeline partnership.
Loews, which owned nearly 70% of the company, is getting 6.7 million units through the private placement. Boardwalk's general partner is also investing $3 million to preserve its stake in the company at 2%.
Meanwhile, Boardwalk announced Tuesday that earlier this month it borrowed the remaining $100 million under a $200 million loan facility agreed to last month with Loews.
Boardwalk, which has 14,000 miles of natural-gas pipeline, has been recording solid growth, but first-quarter earnings fell 41% amid surging costs.
Boardwalk's units are up 25% this year and were recently up 1.5% at $22.31 amid a broad market rebound. Many companies have been using the three-month rally to raise capital thanks to increased investor demand.
-By Kevin Kingsbury, Dow Jones Newswires; 201-938-2136; kevin.kingsbury@dowjones.com
1 Year Boardwalk Pipeline Partners LP Common Units Chart |
1 Month Boardwalk Pipeline Partners LP Common Units Chart |
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