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.
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.
Read More: Gap Down Stocks
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.