Several other analysts have also recently issued reports on BPL. Zacks Investment Research cut Buckeye Partners, L.P. from a hold rating to a sell rating in a report on Tuesday, July 12th. Goldman Sachs Group Inc. started coverage on Buckeye Partners, L.P. in a report on Thursday, August 25th. They set a neutral rating and a $78.00 price objective on the stock. Finally, US Capital Advisors raised Buckeye Partners, L.P. from a hold rating to a buy rating in a report on Thursday, September 8th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $73.44.
Buckeye Partners, L.P. (NYSE:BPL) traded down 0.11% during mid-day trading on Thursday, reaching $71.14. 55,916 shares of the company traded hands. Buckeye Partners, L.P. has a 12-month low of $47.07 and a 12-month high of $75.10. The company’s 50 day moving average price is $70.34 and its 200 day moving average price is $70.26. The firm has a market capitalization of $9.32 billion, a P/E ratio of 18.29 and a beta of 0.95.
Buckeye Partners, L.P. (NYSE:BPL) last issued its quarterly earnings data on Friday, August 5th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.11. The firm had revenue of $777.12 million for the quarter, compared to analysts’ expectations of $759.98 million. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. Equities research analysts predict that Buckeye Partners, L.P. will post $0.01 EPS for the current year.
In other news, Director Pieter Bakker purchased 3,500 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were acquired at an average price of $70.25 per share, with a total value of $245,875.00. Following the transaction, the director now owns 17,552 shares of the company’s stock, valued at $1,233,028. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Khalid A. Muslih sold 7,500 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $75.00, for a total value of $562,500.00. Following the transaction, the senior vice president now directly owns 23,177 shares in the company, valued at approximately $1,738,275. The disclosure for this sale can be found here.
Several institutional investors have recently bought and sold shares of BPL. Energy Income Partners LLC purchased a new position in Buckeye Partners, L.P. during the first quarter worth about $45,134,000. Harvest Fund Advisors LLC increased its position in Buckeye Partners, L.P. by 16.3% in the first quarter. Harvest Fund Advisors LLC now owns 6,427,426 shares of the company’s stock worth $436,679,000 after buying an additional 899,843 shares during the last quarter. Williams Jones & Associates LLC increased its position in Buckeye Partners, L.P. by 1.1% in the first quarter. Williams Jones & Associates LLC now owns 77,565 shares of the company’s stock worth $5,270,000 after buying an additional 855 shares during the last quarter. Clark Capital Management Group Inc. increased its position in Buckeye Partners, L.P. by 1.6% in the first quarter. Clark Capital Management Group Inc. now owns 3,359 shares of the company’s stock worth $228,000 after buying an additional 52 shares during the last quarter. Finally, Shanda Payment Holdings Ltd. increased its position in Buckeye Partners, L.P. by 1,135.3% in the first quarter. Shanda Payment Holdings Ltd. now owns 59,827 shares of the company’s stock worth $4,065,000 after buying an additional 54,984 shares during the last quarter.
About Buckeye Partners, L.P.
Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. The Company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.
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