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.
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.
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.
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