ValuEngine upgraded shares of Buckeye Partners (NYSE:BPL) from a strong sell rating to a sell rating in a research report sent to investors on Friday morning.
A number of other research firms also recently weighed in on BPL. Stifel Nicolaus reiterated a buy rating and set a $37.00 target price on shares of Buckeye Partners in a report on Sunday, November 4th. Zacks Investment Research downgraded Buckeye Partners from a hold rating to a sell rating in a report on Tuesday, January 29th. Goldman Sachs Group reduced their target price on Buckeye Partners from $34.00 to $30.00 in a report on Thursday, January 3rd. Bank of America upped their target price on Buckeye Partners from $37.00 to $38.00 and gave the stock a neutral rating in a report on Monday, November 5th. Finally, Citigroup reduced their target price on Buckeye Partners from $34.00 to $30.00 and set a neutral rating on the stock in a report on Thursday, November 29th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $41.07.
Shares of BPL stock traded up $1.27 during midday trading on Friday, reaching $30.95. 1,415,535 shares of the stock were exchanged, compared to its average volume of 1,002,013. Buckeye Partners has a 1 year low of $25.71 and a 1 year high of $51.95. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.63 and a current ratio of 0.96. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 9.32 and a beta of 1.08.
Buckeye Partners (NYSE:BPL) last posted its earnings results on Friday, February 8th. The pipeline company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.21. Buckeye Partners had a positive return on equity of 8.98% and a negative net margin of 10.43%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $958.86 million. During the same quarter in the prior year, the business earned $0.85 EPS. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. Sell-side analysts forecast that Buckeye Partners will post 0.63 earnings per share for the current year.
In other news, SVP Todd J. Russo sold 6,800 shares of the business’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $32.25, for a total value of $219,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.48% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wade G W & Inc. lifted its position in Buckeye Partners by 2.3% in the 4th quarter. Wade G W & Inc. now owns 19,186 shares of the pipeline company’s stock valued at $556,000 after acquiring an additional 430 shares in the last quarter. Diversified Trust Co lifted its position in Buckeye Partners by 3.9% in the 3rd quarter. Diversified Trust Co now owns 23,223 shares of the pipeline company’s stock valued at $829,000 after acquiring an additional 871 shares in the last quarter. Capital Investment Advisory Services LLC bought a new position in Buckeye Partners in the 4th quarter valued at approximately $36,000. PNC Financial Services Group Inc. lifted its position in Buckeye Partners by 1.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 66,231 shares of the pipeline company’s stock valued at $1,919,000 after acquiring an additional 1,256 shares in the last quarter. Finally, Probabilities Fund Management LLC lifted its position in Buckeye Partners by 10.3% in the 3rd quarter. Probabilities Fund Management LLC now owns 18,320 shares of the pipeline company’s stock valued at $654,000 after acquiring an additional 1,712 shares in the last quarter. 68.67% of the stock is currently owned by institutional investors and hedge funds.
About Buckeye Partners
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.
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