Joseph Sauger Sells 5,481 Shares of Buckeye Partners L.P. (BPL) Stock

Buckeye Partners L.P. (NYSE:BPL) SVP Joseph Sauger sold 5,481 shares of Buckeye Partners stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $47.04, for a total value of $257,826.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of Buckeye Partners L.P. (NYSE:BPL) traded down $1.49 during trading on Thursday, reaching $45.70. The company’s stock had a trading volume of 974,100 shares, compared to its average volume of 587,565. The company has a quick ratio of 0.64, a current ratio of 1.10 and a debt-to-equity ratio of 0.93. Buckeye Partners L.P. has a 12-month low of $43.90 and a 12-month high of $73.01. The firm has a market capitalization of $6,920.13, a PE ratio of 14.43 and a beta of 1.11.

Buckeye Partners (NYSE:BPL) last announced its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.05). Buckeye Partners had a net margin of 12.69% and a return on equity of 9.72%. The firm had revenue of $922.60 million during the quarter, compared to analyst estimates of $795.12 million. During the same period last year, the business posted $1.19 EPS. The company’s revenue was up 20.3% on a year-over-year basis. analysts expect that Buckeye Partners L.P. will post 3.4 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 13th were paid a $1.2625 dividend. This represents a $5.05 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date was Friday, November 10th. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio (DPR) is 154.43%.

BPL has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their target price on Buckeye Partners from $68.00 to $63.00 and set a “buy” rating for the company in a report on Monday, November 6th. Citigroup lowered their target price on Buckeye Partners from $77.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. UBS lowered their target price on Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Royal Bank Of Canada reiterated a “hold” rating and issued a $67.00 target price on shares of Buckeye Partners in a report on Wednesday, September 13th. Finally, Wells Fargo & Company lowered their target price on Buckeye Partners from $66.00 to $61.00 and set a “market perform” rating for the company in a report on Tuesday, October 10th. One 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 company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.33.

A number of institutional investors have recently made changes to their positions in BPL. Alps Advisors Inc. boosted its position in shares of Buckeye Partners by 11.7% during the third quarter. Alps Advisors Inc. now owns 11,461,563 shares of the pipeline company’s stock valued at $653,309,000 after buying an additional 1,204,235 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of Buckeye Partners during the second quarter valued at approximately $54,426,000. JPMorgan Chase & Co. boosted its position in shares of Buckeye Partners by 23.5% during the third quarter. JPMorgan Chase & Co. now owns 2,832,115 shares of the pipeline company’s stock valued at $158,201,000 after buying an additional 539,206 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of Buckeye Partners by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,633,690 shares of the pipeline company’s stock valued at $679,812,000 after buying an additional 482,248 shares during the last quarter. Finally, Center Coast Capital Advisors LP boosted its position in shares of Buckeye Partners by 13.5% during the third quarter. Center Coast Capital Advisors LP now owns 3,478,788 shares of the pipeline company’s stock valued at $198,291,000 after buying an additional 414,445 shares during the last quarter. 69.93% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This article was first published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://www.com-unik.info/2017/12/07/joseph-sauger-sells-5481-shares-of-buckeye-partners-l-p-bpl-stock.html.

Buckeye Partners Company 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.

What are top analysts saying about Buckeye Partners L.P.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Buckeye Partners L.P. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit