Buckeye Partners L.P. (BPL) Given “Buy” Rating at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Buckeye Partners L.P. (NYSE:BPL) in a report issued on Sunday. The firm currently has a $68.00 price target on the pipeline company’s stock.

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.

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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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