Buckeye Partners, L.P. (BPL) Receives $43.64 Average PT from Analysts

Shares of Buckeye Partners, L.P. (NYSE:BPL) have earned a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $43.64.

A number of brokerages recently commented on BPL. Zacks Investment Research cut shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. JPMorgan Chase & Co. decreased their price target on shares of Buckeye Partners from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, August 24th. Citigroup decreased their price target on shares of Buckeye Partners from $39.00 to $34.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 31st. Credit Suisse Group started coverage on shares of Buckeye Partners in a research note on Thursday, October 11th. They set a “neutral” rating and a $35.00 price target on the stock. Finally, Bank of America decreased their price target on shares of Buckeye Partners from $41.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 24th.

Several institutional investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. boosted its stake in shares of Buckeye Partners by 6.4% during the 3rd quarter. Alps Advisors Inc. now owns 12,904,583 shares of the pipeline company’s stock worth $460,823,000 after purchasing an additional 778,840 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Buckeye Partners by 2.3% in the second quarter. OppenheimerFunds Inc. now owns 12,103,336 shares of the pipeline company’s stock worth $425,432,000 after acquiring an additional 273,511 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Buckeye Partners by 0.8% in the second quarter. Kayne Anderson Capital Advisors LP now owns 11,049,392 shares of the pipeline company’s stock worth $370,133,000 after acquiring an additional 86,776 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Buckeye Partners by 35.5% in the third quarter. Chickasaw Capital Management LLC now owns 7,879,285 shares of the pipeline company’s stock worth $281,369,000 after acquiring an additional 2,065,317 shares during the last quarter. Finally, Global X Management Co LLC boosted its position in shares of Buckeye Partners by 39.3% in the second quarter. Global X Management Co LLC now owns 1,215,941 shares of the pipeline company’s stock worth $42,740,000 after acquiring an additional 342,798 shares during the last quarter. 68.15% of the stock is currently owned by institutional investors.



Shares of NYSE BPL opened at $32.15 on Thursday. The stock has a market capitalization of $4.84 billion, a P/E ratio of 9.68 and a beta of 1.27. Buckeye Partners has a 52 week low of $31.80 and a 52 week high of $57.19. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.70 and a current ratio of 1.01.

Buckeye Partners (NYSE:BPL) last issued its quarterly earnings data on Friday, August 3rd. The pipeline company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.10). The business had revenue of $940.84 million during the quarter, compared to analyst estimates of $811.12 million. Buckeye Partners had a net margin of 11.19% and a return on equity of 9.12%. Buckeye Partners’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, equities research analysts expect that Buckeye Partners will post 2.83 earnings per share for the current year.

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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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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