BB&T Corp Sells 1,325 Shares of Buckeye Partners, L.P. (BPL)

BB&T Corp reduced its holdings in shares of Buckeye Partners, L.P. (NYSE:BPL) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,027 shares of the pipeline company’s stock after selling 1,325 shares during the period. BB&T Corp’s holdings in Buckeye Partners were worth $893,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Alps Advisors Inc. grew its holdings in Buckeye Partners by 11.7% during the 3rd quarter. Alps Advisors Inc. now owns 11,461,563 shares of the pipeline company’s stock worth $653,309,000 after acquiring an additional 1,204,235 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Buckeye Partners by 23.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,832,115 shares of the pipeline company’s stock worth $158,201,000 after acquiring an additional 539,206 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in Buckeye Partners by 14.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 3,583,695 shares of the pipeline company’s stock worth $177,572,000 after acquiring an additional 459,586 shares in the last quarter. Center Coast Capital Advisors LP grew its holdings in Buckeye Partners by 13.5% during the 3rd quarter. Center Coast Capital Advisors LP now owns 3,478,788 shares of the pipeline company’s stock worth $198,291,000 after acquiring an additional 414,445 shares in the last quarter. Finally, ING Groep NV acquired a new position in Buckeye Partners during the 3rd quarter worth approximately $22,230,000. 70.24% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP Joseph Sauger sold 5,481 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.04, for a total value of $257,826.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Buckeye Partners, L.P. (NYSE:BPL) opened at $52.11 on Tuesday. Buckeye Partners, L.P. has a twelve month low of $43.90 and a twelve month high of $73.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.10 and a quick ratio of 0.64. The stock has a market cap of $7,640.00, a price-to-earnings ratio of 15.98 and a beta of 1.03.

Buckeye Partners (NYSE:BPL) last issued its earnings results on Friday, November 3rd. The pipeline company reported $0.81 earnings per share (EPS) 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 company had revenue of $922.60 million during the quarter, compared to analyst estimates of $795.12 million. During the same quarter in the previous year, the company posted $1.19 EPS. The company’s quarterly revenue was up 20.3% on a year-over-year basis. sell-side analysts expect that Buckeye Partners, L.P. will post 3.37 earnings per share for the current year.

Several research analysts have commented on BPL shares. Citigroup lowered their price target on shares of Buckeye Partners from $77.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. UBS Group lowered their price target on shares of Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Stifel Nicolaus lowered their price target on shares of Buckeye Partners from $68.00 to $63.00 and set a “buy” rating for the company in a report on Monday, November 6th. TheStreet cut shares of Buckeye Partners from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Finally, Barclays lowered their price target on shares of Buckeye Partners from $64.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Buckeye Partners currently has an average rating of “Hold” and an average target price of $64.73.

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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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Institutional Ownership by Quarter for Buckeye Partners (NYSE:BPL)

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