Tower Research Capital LLC TRC Makes New $408,000 Investment in Buckeye Partners, L.P. (NYSE:BPL)

Tower Research Capital LLC TRC acquired a new position in shares of Buckeye Partners, L.P. (NYSE:BPL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,932 shares of the pipeline company’s stock, valued at approximately $408,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in Buckeye Partners by 94,399.3% during the 2nd quarter. Invesco Ltd. now owns 14,415,873 shares of the pipeline company’s stock worth $591,772,000 after acquiring an additional 14,400,618 shares during the last quarter. UBS Group AG boosted its holdings in shares of Buckeye Partners by 44.5% in the 2nd quarter. UBS Group AG now owns 7,126,305 shares of the pipeline company’s stock worth $292,535,000 after buying an additional 2,193,475 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Buckeye Partners by 706.6% in the 2nd quarter. Morgan Stanley now owns 5,839,590 shares of the pipeline company’s stock worth $239,716,000 after buying an additional 5,115,615 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Buckeye Partners by 6.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,215,262 shares of the pipeline company’s stock worth $172,488,000 after buying an additional 272,910 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Buckeye Partners by 229.7% in the 2nd quarter. Bank of America Corp DE now owns 4,191,687 shares of the pipeline company’s stock worth $172,068,000 after buying an additional 2,920,449 shares during the last quarter. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Buckeye Partners stock opened at $41.46 on Tuesday. Buckeye Partners, L.P. has a 52-week low of $25.71 and a 52-week high of $42.65. The stock’s 50-day simple moving average is $41.40 and its 200 day simple moving average is $40.86. The stock has a market capitalization of $6.38 billion, a P/E ratio of 23.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.64 and a current ratio of 0.91.

A number of brokerages recently weighed in on BPL. Argus reissued a “sell” rating on shares of Buckeye Partners in a report on Monday, August 12th. ValuEngine downgraded shares of Buckeye Partners from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Buckeye Partners presently has a consensus rating of “Hold” and a consensus price target of $37.23.

In other news, SVP Todd J. Russo sold 2,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $41.12, for a total transaction of $82,240.00. Following the sale, the senior vice president now directly owns 3,092 shares in the company, valued at $127,143.04. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Clair Keith St sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $41.17, for a total value of $205,850.00. Following the sale, the chief financial officer now owns 134,715 shares in the company, valued at $5,546,216.55. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.

Buckeye Partners Company Profile

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

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