Mosaic Family Wealth LLC lessened its stake in shares of Buckeye Partners, L.P. (NYSE:BPL) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,977 shares of the pipeline company’s stock after selling 1,803 shares during the quarter. Mosaic Family Wealth LLC’s holdings in Buckeye Partners were worth $445,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Aevitas Wealth Management Inc. acquired a new position in Buckeye Partners in the fourth quarter valued at $102,000. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Buckeye Partners during the third quarter worth about $114,000. BNP Paribas Arbitrage SA increased its position in shares of Buckeye Partners by 315.0% during the third quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock worth $118,000 after acquiring an additional 1,575 shares in the last quarter. Haverford Trust Co. bought a new stake in shares of Buckeye Partners during the fourth quarter worth about $209,000. Finally, Smith Moore & CO. bought a new stake in shares of Buckeye Partners during the third quarter worth about $211,000. 70.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. SunTrust Banks set a $58.00 price objective on shares of Buckeye Partners and gave the stock a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research cut shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Credit Suisse Group initiated coverage on shares of Buckeye Partners in a research note on Thursday, January 4th. They issued an “underperform” rating on the stock. Bank of America initiated coverage on shares of Buckeye Partners in a report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Finally, Barclays increased their price target on shares of Buckeye Partners from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $59.67.
Shares of Buckeye Partners, L.P. (NYSE BPL) traded down $0.81 during trading on Wednesday, reaching $44.76. 361,208 shares of the company’s stock were exchanged, compared to its average volume of 856,547. The company has a market cap of $6,580.00, a price-to-earnings ratio of 13.40 and a beta of 1.14. Buckeye Partners, L.P. has a 1-year low of $42.96 and a 1-year high of $69.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.52 and a current ratio of 0.96.
Buckeye Partners (NYSE:BPL) last announced its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.03). Buckeye Partners had a return on equity of 10.02% and a net margin of 13.13%. The firm had revenue of $946.05 million during the quarter, compared to the consensus estimate of $905.02 million. During the same period last year, the business earned $0.78 EPS. Buckeye Partners’s revenue was up 2.4% on a year-over-year basis. sell-side analysts expect that Buckeye Partners, L.P. will post 3.32 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 20th were given a $1.2625 dividend. This represents a $5.05 annualized dividend and a dividend yield of 11.28%. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. The ex-dividend date was Friday, February 16th. Buckeye Partners’s dividend payout ratio (DPR) is currently 151.20%.
In related news, Director Pieter Bakker sold 2,000 shares of Buckeye Partners stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $46.05, for a total transaction of $92,100.00. Following the completion of the transaction, the director now directly owns 19,552 shares of the company’s stock, valued at approximately $900,369.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Joseph Sauger sold 11,013 shares of Buckeye Partners stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $43.92, for a total transaction of $483,690.96. Following the transaction, the senior vice president now directly owns 27,416 shares of the company’s stock, valued at $1,204,110.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,361 shares of company stock valued at $592,488. Corporate insiders own 0.42% of the company’s stock.
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Buckeye Partners Company Profile
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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