Buckeye Partners L.P. (NYSE:BPL) has been given a consensus rating of “Hold” by the fifteen brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $65.33.
Several brokerages recently weighed in on BPL. Zacks Investment Research raised shares of Buckeye Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, September 18th. UBS dropped their price objective on shares of Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $67.00 price objective on shares of Buckeye Partners in a research note on Monday, October 16th. SunTrust Banks set a $58.00 price objective on shares of Buckeye Partners and gave the company a “hold” rating in a research note on Tuesday, November 14th. Finally, Wells Fargo & Company dropped their price objective on shares of Buckeye Partners from $66.00 to $61.00 and set a “market perform” rating for the company in a research note on Tuesday, October 10th.
In other news, SVP Joseph Sauger sold 5,481 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $47.04, for a total transaction of $257,826.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Hudock Capital Group LLC grew its holdings in shares of Buckeye Partners by 1,564.7% during the 3rd quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock worth $110,000 after purchasing an additional 1,815 shares during the period. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Buckeye Partners during the 3rd quarter worth about $114,000. Ffcm LLC grew its holdings in shares of Buckeye Partners by 221.3% during the 2nd quarter. Ffcm LLC now owns 1,764 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 1,215 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Buckeye Partners by 315.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock worth $118,000 after purchasing an additional 1,575 shares during the period. Finally, Pathstone Family Office LLC purchased a new stake in shares of Buckeye Partners during the 2nd quarter worth about $142,000. Institutional investors and hedge funds own 69.93% of the company’s stock.
Shares of Buckeye Partners (NYSE:BPL) traded up $0.79 during mid-day trading on Monday, reaching $46.49. 793,356 shares of the company traded hands, compared to its average volume of 588,436. Buckeye Partners has a 12-month low of $43.90 and a 12-month high of $73.01. The firm has a market cap of $6,920.13, a P/E ratio of 14.43 and a beta of 1.11. 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 (NYSE:BPL) last announced its 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 firm had revenue of $922.60 million during the quarter, compared to analyst estimates of $795.12 million. During the same period in the previous year, the firm posted $1.19 EPS. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. sell-side analysts predict that Buckeye Partners will post 3.4 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 13th were issued a dividend of $1.2625 per share. The ex-dividend date was Friday, November 10th. This represents a $5.05 dividend on an annualized basis and a dividend yield of 10.86%. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s payout ratio is presently 154.43%.
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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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