Buckeye Partners (BPL) Hits New 12-Month Low at $28.87

Buckeye Partners, L.P. (NYSE:BPL) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $28.87 and last traded at $29.28, with a volume of 670866 shares changing hands. The stock had previously closed at $30.32.

A number of research firms recently issued reports on BPL. Zacks Investment Research downgraded shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Guggenheim restated a “hold” rating and set a $38.00 target price on shares of Buckeye Partners in a research report on Monday, November 5th. Stifel Nicolaus decreased their target price on shares of Buckeye Partners from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, August 6th. Credit Suisse Group began coverage on shares of Buckeye Partners in a research report on Thursday, October 11th. They set a “neutral” rating and a $35.00 target price for the company. Finally, SunTrust Banks upgraded shares of Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $42.08.

The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 8.75 and a beta of 1.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.63 and a current ratio of 0.96.

Buckeye Partners (NYSE:BPL) last issued its quarterly earnings data on Friday, November 2nd. The pipeline company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.11). The firm had revenue of $909.55 million during the quarter, compared to analyst estimates of $921.74 million. Buckeye Partners had a positive return on equity of 8.98% and a negative net margin of 10.43%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. Research analysts expect that Buckeye Partners, L.P. will post 0.69 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 13th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, November 9th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.32%. Buckeye Partners’s dividend payout ratio (DPR) is currently 90.36%.

In other Buckeye Partners news, SVP Todd J. Russo sold 6,800 shares of the company’s stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $32.25, for a total value of $219,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.48% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Poehling Capital Management LLC purchased a new stake in shares of Buckeye Partners during the second quarter worth about $105,000. Sun Life Financial INC increased its stake in shares of Buckeye Partners by 2,566.7% during the second quarter. Sun Life Financial INC now owns 4,000 shares of the pipeline company’s stock worth $141,000 after purchasing an additional 3,850 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Buckeye Partners by 3,747.9% during the second quarter. Advisors Asset Management Inc. now owns 167,229 shares of the pipeline company’s stock worth $142,000 after purchasing an additional 162,883 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Buckeye Partners during the third quarter worth about $143,000. Finally, Adviser Investments LLC purchased a new stake in shares of Buckeye Partners during the second quarter worth about $155,000. Institutional investors and hedge funds own 76.22% of the company’s stock.

WARNING: This news story was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://www.com-unik.info/2018/12/04/buckeye-partners-bpl-hits-new-12-month-low-at-28-87.html.

About Buckeye Partners (NYSE:BPL)

Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates; refined petroleum products; and crude oil.

Featured Article: Earnings Per Share

Receive News & Ratings for Buckeye Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


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