Buckeye Partners L.P. (NYSE:BPL) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $65.33.
Several analysts recently issued reports on the company. Zacks Investment Research raised Buckeye Partners L.P. from a “strong sell” rating to a “hold” rating in a research note on Monday, September 18th. SunTrust Banks, Inc. set a $58.00 target price on Buckeye Partners L.P. and gave the stock a “hold” rating in a research note on Tuesday. BidaskClub cut Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. UBS AG cut their target price on Buckeye Partners L.P. from $76.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $67.00 target price on shares of Buckeye Partners L.P. in a research note on Monday, October 16th.
Institutional investors have recently bought and sold shares of the business. Ffcm LLC boosted its position in Buckeye Partners L.P. by 221.3% during the 2nd quarter. Ffcm LLC now owns 1,764 shares of the pipeline company’s stock valued at $115,000 after acquiring an additional 1,215 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Buckeye Partners L.P. during the 1st quarter valued at approximately $128,000. Hudock Capital Group LLC boosted its position in Buckeye Partners L.P. by 1,564.7% during the 3rd quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock valued at $110,000 after acquiring an additional 1,815 shares in the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in Buckeye Partners L.P. during the 3rd quarter valued at approximately $114,000. Finally, BNP Paribas Arbitrage SA boosted its position in Buckeye Partners L.P. by 315.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock valued at $118,000 after acquiring an additional 1,575 shares in the last quarter. 68.03% of the stock is currently owned by institutional investors and hedge funds.
Buckeye Partners L.P. (NYSE BPL) traded down $0.77 on Thursday, hitting $49.74. The stock had a trading volume of 860,000 shares, compared to its average volume of 562,943. The stock has a market capitalization of $7,406.99, a P/E ratio of 15.45 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.64 and a current ratio of 1.10. Buckeye Partners L.P. has a 1 year low of $49.39 and a 1 year high of $73.01.
Buckeye Partners L.P. (NYSE:BPL) last released its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.05). The company had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $795.12 million. Buckeye Partners L.P. had a return on equity of 9.72% and a net margin of 12.69%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 EPS. analysts expect that Buckeye Partners L.P. will post 3.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 13th will be given a dividend of $1.2625 per share. This represents a $5.05 annualized dividend and a yield of 10.15%. This is a boost from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, November 10th. Buckeye Partners L.P.’s payout ratio is presently 154.43%.
Buckeye Partners L.P. 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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