Shares of Buckeye Partners, L.P. (NYSE:BPL) have received a consensus rating of “Hold” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.82.
BPL has been the topic of several recent research reports. UBS Group upgraded Buckeye Partners from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $36.00 in a report on Thursday, March 7th. Barclays restated a “buy” rating and set a $38.00 price target on shares of Buckeye Partners in a report on Tuesday, February 19th. Zacks Investment Research upgraded Buckeye Partners from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Monday, February 11th. ValuEngine upgraded Buckeye Partners from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Finally, Mizuho set a $42.00 price target on Buckeye Partners and gave the stock a “hold” rating in a report on Friday, May 10th.
NYSE BPL traded down $0.03 during trading hours on Monday, hitting $40.98. 2,619,978 shares of the company were exchanged, compared to its average volume of 2,602,253. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.92 and a quick ratio of 0.28. Buckeye Partners has a 52-week low of $25.71 and a 52-week high of $42.65. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 22.89 and a beta of 1.09.
Buckeye Partners (NYSE:BPL) last issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.07). Buckeye Partners had a positive return on equity of 9.46% and a negative net margin of 2.29%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned $0.74 EPS. Buckeye Partners’s revenue for the quarter was down 13.0% compared to the same quarter last year. Equities research analysts anticipate that Buckeye Partners will post 2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 20th will be issued a $0.75 dividend. The ex-dividend date is Friday, May 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.32%. Buckeye Partners’s payout ratio is currently 167.60%.
In other news, VP Gary L. Bohnsack sold 2,500 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $41.73, for a total value of $104,325.00. Following the transaction, the vice president now owns 422 shares in the company, valued at approximately $17,610.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its holdings in shares of Buckeye Partners by 6.2% in the 4th quarter. Macquarie Group Ltd. now owns 123,024 shares of the pipeline company’s stock valued at $3,567,000 after acquiring an additional 7,224 shares during the last quarter. Bollard Group LLC grew its stake in Buckeye Partners by 23.8% during the 4th quarter. Bollard Group LLC now owns 28,582 shares of the pipeline company’s stock worth $829,000 after buying an additional 5,490 shares during the last quarter. Pennsylvania Trust Co purchased a new position in Buckeye Partners during the 1st quarter worth approximately $257,000. Conning Inc. grew its stake in Buckeye Partners by 70.5% during the 1st quarter. Conning Inc. now owns 101,065 shares of the pipeline company’s stock worth $3,438,000 after buying an additional 41,772 shares during the last quarter. Finally, Eagle Global Advisors LLC purchased a new position in Buckeye Partners during the 1st quarter worth approximately $22,206,000. Institutional investors and hedge funds own 69.33% 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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