Nelson Van Denburg & Campbell Wealth Management Group LLC cut its holdings in shares of Buckeye Partners L.P. (NYSE:BPL) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,959 shares of the pipeline company’s stock after selling 175 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Buckeye Partners L.P. were worth $125,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of BPL. Bank of New York Mellon Corp increased its stake in Buckeye Partners L.P. by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 44,845 shares of the pipeline company’s stock worth $3,075,000 after purchasing an additional 1,491 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Buckeye Partners L.P. during the first quarter worth about $256,000. Ameriprise Financial Inc. grew its position in shares of Buckeye Partners L.P. by 26.5% during the first quarter. Ameriprise Financial Inc. now owns 13,902 shares of the pipeline company’s stock worth $953,000 after buying an additional 2,911 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Buckeye Partners L.P. by 40.6% during the first quarter. Alliancebernstein L.P. now owns 32,068 shares of the pipeline company’s stock worth $2,199,000 after buying an additional 9,259 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Buckeye Partners L.P. by 3.1% during the first quarter. Fifth Third Bancorp now owns 8,025 shares of the pipeline company’s stock worth $550,000 after buying an additional 245 shares in the last quarter. Institutional investors own 68.84% of the company’s stock.
A number of equities analysts have recently commented on the company. Citigroup Inc. lowered their price objective on Buckeye Partners L.P. from $77.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their price objective on Buckeye Partners L.P. from $66.00 to $61.00 and set a “market perform” rating for the company in a research report on Tuesday. Zacks Investment Research raised Buckeye Partners L.P. from a “strong sell” rating to a “hold” rating in a research report on Monday, September 18th. Royal Bank Of Canada reissued a “hold” rating and set a $67.00 price objective on shares of Buckeye Partners L.P. in a research report on Wednesday, September 13th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $69.00 price objective on shares of Buckeye Partners L.P. in a research report on Sunday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $71.33.
Shares of Buckeye Partners L.P. (BPL) traded down 0.26% during trading on Wednesday, reaching $57.69. The company had a trading volume of 80,021 shares. The firm has a 50-day moving average price of $56.63 and a 200-day moving average price of $62.55. The company has a market capitalization of $8.15 billion, a P/E ratio of 15.94 and a beta of 1.16. Buckeye Partners L.P. has a 52-week low of $54.33 and a 52-week high of $73.01.
Buckeye Partners L.P. (NYSE:BPL) last issued its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). Buckeye Partners L.P. had a net margin of 14.42% and a return on equity of 11.04%. The business had revenue of $810.20 million for the quarter, compared to analyst estimates of $797.47 million. During the same quarter last year, the business earned $1.07 EPS. Buckeye Partners L.P.’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts predict that Buckeye Partners L.P. will post $3.56 EPS for the current fiscal year.
In other Buckeye Partners L.P. news, Director Barbara J. Duganier acquired 1,000 shares of the stock in a transaction on Monday, August 14th. The stock was purchased at an average price of $58.19 per share, for a total transaction of $58,190.00. Following the purchase, the director now directly owns 9,000 shares in the company, valued at $523,710. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by company insiders.
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Buckeye Partners L.P. Profile
Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.
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