Brokerages Set Buckeye Partners, L.P. (NYSE:BPL) PT at $37.11

Buckeye Partners, L.P. (NYSE:BPL) has been assigned a consensus rating of “Hold” from the fifteen research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and thirteen have given a hold recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $37.11.

Several research firms have weighed in on BPL. Argus reissued a “sell” rating on shares of Buckeye Partners in a report on Monday, August 12th. ValuEngine cut shares of Buckeye Partners from a “buy” rating to a “hold” rating in a report on Thursday, August 1st.

In other news, CFO Clair Keith St sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $41.17, for a total transaction of $205,850.00. Following the transaction, the chief financial officer now directly owns 134,715 shares of the company’s stock, valued at $5,546,216.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph A. Lasala, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $41.00, for a total transaction of $164,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $410,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,000 shares of company stock worth $452,090. Insiders own 0.54% of the company’s stock.



Institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new position in shares of Buckeye Partners during the second quarter worth approximately $36,000. HM Payson & Co. bought a new position in shares of Buckeye Partners during the second quarter worth approximately $90,000. Coastal Investment Advisors Inc. increased its holdings in shares of Buckeye Partners by 74.8% during the second quarter. Coastal Investment Advisors Inc. now owns 3,919 shares of the pipeline company’s stock worth $160,000 after purchasing an additional 1,677 shares during the period. Kavar Capital Partners LLC bought a new position in shares of Buckeye Partners during the second quarter worth approximately $205,000. Finally, Sound View Wealth Advisors Group LLC bought a new position in shares of Buckeye Partners during the second quarter worth approximately $206,000. 79.97% of the stock is currently owned by institutional investors.

Shares of BPL stock traded down $0.16 on Friday, reaching $41.02. The stock had a trading volume of 7,908,891 shares, compared to its average volume of 2,058,895. The company has a quick ratio of 0.64, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The firm’s 50-day moving average is $41.16 and its two-hundred day moving average is $38.70. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 22.92 and a beta of 0.70. Buckeye Partners has a 12 month low of $25.71 and a 12 month high of $42.65.

Buckeye Partners (NYSE:BPL) last issued its earnings results on Thursday, August 1st. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $791.70 million for the quarter, compared to analysts’ expectations of $1.01 billion. Buckeye Partners had a negative net margin of 2.43% and a positive return on equity of 9.82%. On average, sell-side analysts forecast that Buckeye Partners will post 2.45 earnings per share for the current fiscal 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.

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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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