Buckeye Partners (BPL) Given Average Rating of “Hold” by Brokerages

Shares of Buckeye Partners (NYSE:BPL) have been given an average rating of “Hold” by the fifteen research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $57.45.

BPL has been the topic of a number of recent research reports. Zacks Investment Research downgraded Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Credit Suisse Group initiated coverage on Buckeye Partners in a research report on Thursday, January 4th. They issued an “underperform” rating on the stock. Bank of America initiated coverage on Buckeye Partners in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Barclays lifted their target price on Buckeye Partners from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Finally, Mizuho set a $55.00 target price on Buckeye Partners and gave the company a “hold” rating in a research report on Friday, February 9th.

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In related news, SVP Joseph Sauger sold 11,013 shares of Buckeye Partners stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $43.92, for a total transaction of $483,690.96. Following the completion of the transaction, the senior vice president now owns 27,416 shares in the company, valued at $1,204,110.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pieter Bakker sold 2,000 shares of Buckeye Partners stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $46.05, for a total value of $92,100.00. Following the transaction, the director now owns 19,552 shares of the company’s stock, valued at approximately $900,369.60. The disclosure for this sale can be found here. Insiders have sold 13,361 shares of company stock valued at $592,488 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its holdings in shares of Buckeye Partners by 6.3% during the fourth quarter. Alps Advisors Inc. now owns 12,185,717 shares of the pipeline company’s stock worth $603,802,000 after acquiring an additional 724,154 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of Buckeye Partners by 8.3% during the fourth quarter. OppenheimerFunds Inc. now owns 11,438,381 shares of the pipeline company’s stock worth $566,772,000 after acquiring an additional 877,671 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Buckeye Partners by 1.9% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 10,837,570 shares of the pipeline company’s stock worth $617,741,000 after acquiring an additional 203,880 shares during the period. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Buckeye Partners by 20.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 5,353,758 shares of the pipeline company’s stock worth $265,264,000 after acquiring an additional 916,900 shares during the period. Finally, Advisory Research Inc. boosted its holdings in shares of Buckeye Partners by 7.2% during the fourth quarter. Advisory Research Inc. now owns 3,599,716 shares of the pipeline company’s stock worth $178,366,000 after acquiring an additional 243,273 shares during the period. Institutional investors and hedge funds own 70.30% of the company’s stock.

Buckeye Partners (NYSE:BPL) traded down $2.12 during trading hours on Wednesday, hitting $40.95. The company had a trading volume of 669,335 shares, compared to its average volume of 844,650. The company has a current ratio of 0.96, a quick ratio of 0.52 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $6,328.36, a P/E ratio of 12.37 and a beta of 1.14. Buckeye Partners has a twelve month low of $39.29 and a twelve month high of $69.95.

Buckeye Partners (NYSE:BPL) last released its 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). The company had revenue of $946.05 million during the quarter, compared to analyst estimates of $905.02 million. Buckeye Partners had a net margin of 13.13% and a return on equity of 10.02%. Buckeye Partners’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. research analysts anticipate that Buckeye Partners will post 3.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th were issued a dividend of $1.2625 per share. The ex-dividend date was Friday, February 16th. This represents a $5.05 dividend on an annualized basis and a yield of 12.33%. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio (DPR) is presently 151.20%.

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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.

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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