Buckeye Partners, L.P. (BPL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Buckeye Partners, L.P. (NYSE:BPL) have earned an average recommendation of “Hold” from the sixteen analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $36.33.

Several analysts recently issued reports on BPL shares. Zacks Investment Research cut shares of Buckeye Partners from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. ValuEngine raised shares of Buckeye Partners from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Goldman Sachs Group cut their price target on shares of Buckeye Partners from $34.00 to $30.00 in a report on Thursday, January 3rd. Mizuho started coverage on shares of Buckeye Partners in a report on Monday, March 11th. They issued a “neutral” rating and a $36.00 price target on the stock. Finally, UBS Group upgraded shares of Buckeye Partners from a “neutral” rating to a “buy” rating and boosted their target price for the company from $33.00 to $36.00 in a research note on Thursday, March 7th.

BPL opened at $33.30 on Thursday. The firm has a market capitalization of $5.16 billion, a P/E ratio of 18.60 and a beta of 1.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.28 and a current ratio of 0.46. Buckeye Partners has a 12-month low of $25.71 and a 12-month high of $42.68.

Buckeye Partners (NYSE:BPL) last posted its quarterly earnings results on Friday, February 8th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.21. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $958.86 million. Buckeye Partners had a negative net margin of 1.44% and a positive return on equity of 9.65%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. As a group, equities research analysts anticipate that Buckeye Partners will post 2.57 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in BPL. Legacy Advisors LLC bought a new position in shares of Buckeye Partners during the first quarter worth about $34,000. Capital Investment Advisory Services LLC bought a new position in shares of Buckeye Partners during the fourth quarter worth about $36,000. FMR LLC grew its position in Buckeye Partners by 150,500.0% in the 4th quarter. FMR LLC now owns 1,506 shares of the pipeline company’s stock valued at $43,000 after buying an additional 1,505 shares in the last quarter. Old North State Trust LLC grew its position in Buckeye Partners by 1,351.4% in the 1st quarter. Old North State Trust LLC now owns 2,685 shares of the pipeline company’s stock valued at $91,000 after buying an additional 2,500 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. bought a new position in Buckeye Partners in the 4th quarter valued at about $122,000. Institutional investors and hedge funds own 70.31% of the company’s stock.

Buckeye Partners Company Profile

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.

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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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