Other equities research analysts have also recently issued reports about the stock. Citigroup Inc. dropped their price target on shares of Buckeye Partners L.P. from $77.00 to $72.00 and set a buy rating for the company in a research report on Tuesday, October 10th. UBS AG dropped their price objective on shares of Buckeye Partners L.P. from $76.00 to $64.00 and set a buy rating for the company in a report on Tuesday, October 17th. TheStreet cut shares of Buckeye Partners L.P. from a b- rating to a c+ rating in a report on Wednesday, October 25th. Barclays PLC dropped their price objective on shares of Buckeye Partners L.P. from $68.00 to $66.00 and set an equal weight rating for the company in a report on Monday, August 7th. Finally, Zacks Investment Research upgraded shares of Buckeye Partners L.P. from a strong sell rating to a hold rating in a report on Monday, September 18th. One 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 company currently has an average rating of Hold and an average target price of $69.42.
Shares of Buckeye Partners L.P. (NYSE BPL) traded down 0.65% during trading on Friday, reaching $52.21. 572,456 shares of the company traded hands. The stock has a market capitalization of $7.37 billion, a PE ratio of 14.44 and a beta of 1.16. Buckeye Partners L.P. has a 52 week low of $50.14 and a 52 week high of $73.01. The firm has a 50 day moving average of $55.85 and a 200 day moving average of $61.29.
Buckeye Partners L.P. (NYSE:BPL) last announced its quarterly earnings results 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 company had revenue of $810.20 million for the quarter, compared to analyst estimates of $797.47 million. During the same quarter in the prior year, the business earned $1.07 earnings per share. Buckeye Partners L.P.’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts predict that Buckeye Partners L.P. will post $3.56 EPS for the current year.
In other Buckeye Partners L.P. news, Director Barbara J. Duganier purchased 1,000 shares of Buckeye Partners L.P. stock in a transaction that occurred 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 transaction, the director now directly owns 9,000 shares in the company, valued at $523,710. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Ffcm LLC raised its position in Buckeye Partners L.P. by 221.3% during the 2nd quarter. Ffcm LLC now owns 1,764 shares of the pipeline company’s stock worth $115,000 after buying an additional 1,215 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Buckeye Partners L.P. during the 1st quarter worth $128,000. Hudock Capital Group LLC raised its position in Buckeye Partners L.P. by 1,564.7% during the 3rd quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock worth $110,000 after buying an additional 1,815 shares during the last quarter. Pathstone Family Office LLC purchased a new position in Buckeye Partners L.P. during the 2nd quarter worth $142,000. Finally, MCF Advisors LLC raised its position in Buckeye Partners L.P. by 1.9% during the 2nd quarter. MCF Advisors LLC now owns 2,508 shares of the pipeline company’s stock worth $160,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 69.39% of the company’s stock.
About Buckeye Partners L.P.
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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