Insider Selling: Buckeye Partners, L.P. (BPL) SVP Sells 348 Shares of Stock

Buckeye Partners, L.P. (NYSE:BPL) SVP Joseph Sauger sold 348 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $47.98, for a total value of $16,697.04. Following the completion of the transaction, the senior vice president now owns 25,807 shares of the company’s stock, valued at approximately $1,238,219.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Joseph Sauger also recently made the following trade(s):

  • On Monday, December 4th, Joseph Sauger sold 5,481 shares of Buckeye Partners stock. The shares were sold at an average price of $47.04, for a total value of $257,826.24.

Buckeye Partners, L.P. (BPL) traded up $0.35 during trading hours on Thursday, hitting $48.04. The company’s stock had a trading volume of 615,954 shares, compared to its average volume of 596,530. Buckeye Partners, L.P. has a 1 year low of $43.90 and a 1 year high of $73.01. The stock has a market cap of $7,050.65, a PE ratio of 14.70 and a beta of 1.11. The company has a current ratio of 1.10, a quick ratio of 0.64 and a debt-to-equity ratio of 0.93.

Buckeye Partners (NYSE:BPL) last released its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.81 earnings per share for the quarter, missing the 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 business had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $795.12 million. During the same period in the previous year, the business earned $1.19 EPS. The business’s revenue was up 20.3% on a year-over-year basis. equities analysts expect that Buckeye Partners, L.P. will post 3.4 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. Zacks Investment Research downgraded Buckeye Partners from a “hold” rating to a “sell” rating in a research note on Tuesday. Citigroup dropped their price target on Buckeye Partners from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, October 10th. Barclays dropped their price target on Buckeye Partners from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $69.00 price target on shares of Buckeye Partners in a research report on Sunday, September 10th. Finally, Wells Fargo & Company dropped their price target on Buckeye Partners from $66.00 to $61.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $64.91.

Large investors have recently added to or reduced their stakes in the business. Narwhal Capital Management increased its position in shares of Buckeye Partners by 51.7% during the 3rd quarter. Narwhal Capital Management now owns 16,750 shares of the pipeline company’s stock valued at $955,000 after purchasing an additional 5,710 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Buckeye Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 33,970 shares of the pipeline company’s stock valued at $2,172,000 after purchasing an additional 1,902 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Buckeye Partners by 135.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 32,699 shares of the pipeline company’s stock valued at $2,090,000 after purchasing an additional 18,797 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of Buckeye Partners by 38.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 175,235 shares of the pipeline company’s stock valued at $11,203,000 after purchasing an additional 48,585 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Buckeye Partners during the 2nd quarter valued at about $254,000. 69.90% of the stock is currently owned by hedge funds and other institutional investors.

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About Buckeye Partners

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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