Buckeye Partners, L.P. (BPL) Stake Raised by Huntington National Bank

Huntington National Bank boosted its stake in Buckeye Partners, L.P. (NYSE:BPL) by 17.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,965 shares of the pipeline company’s stock after buying an additional 5,049 shares during the period. Huntington National Bank’s holdings in Buckeye Partners, L.P. were worth $2,329,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BPL. Cypress Wealth Advisors LLC boosted its stake in Buckeye Partners, L.P. by 0.4% in the fourth quarter. Cypress Wealth Advisors LLC now owns 11,975 shares of the pipeline company’s stock valued at $792,000 after buying an additional 50 shares in the last quarter. MCF Advisors LLC boosted its stake in Buckeye Partners, L.P. by 1.7% in the third quarter. MCF Advisors LLC now owns 4,395 shares of the pipeline company’s stock valued at $315,000 after buying an additional 74 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of Buckeye Partners, L.P. by 0.6% in the fourth quarter. Baird Financial Group Inc. now owns 16,020 shares of the pipeline company’s stock valued at $1,060,000 after buying an additional 100 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Buckeye Partners, L.P. by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 9,750 shares of the pipeline company’s stock valued at $645,000 after buying an additional 100 shares during the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of Buckeye Partners, L.P. by 4.6% in the third quarter. CENTRAL TRUST Co now owns 2,526 shares of the pipeline company’s stock valued at $181,000 after buying an additional 110 shares during the last quarter. 67.12% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Buckeye Partners, L.P. (NYSE:BPL)

Buckeye Partners, L.P. (NYSE:BPL) traded up 0.022% on Friday, hitting $67.895. The stock had a trading volume of 229,314 shares. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of 16.847 and a beta of 1.24. Buckeye Partners, L.P. has a 1-year low of $61.37 and a 1-year high of $75.10. The company has a 50-day moving average price of $67.64 and a 200-day moving average price of $67.19.

Buckeye Partners, L.P. (NYSE:BPL) last posted its earnings results on Friday, February 10th. The pipeline company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by $0.25. Buckeye Partners, L.P. had a net margin of 16.49% and a return on equity of 13.13%. The business had revenue of $924.06 million for the quarter, compared to analysts’ expectations of $860.16 million. During the same period last year, the firm posted $1.03 earnings per share. Buckeye Partners, L.P.’s quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts predict that Buckeye Partners, L.P. will post $4.31 earnings per share for the current year.

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Several brokerages have commented on BPL. Bank of America Corp downgraded Buckeye Partners, L.P. from a “buy” rating to a “hold” rating and boosted their target price for the stock from $72.11 to $74.00 in a research note on Monday, February 13th. Mizuho boosted their target price on Buckeye Partners, L.P. from $70.00 to $73.00 and gave the stock a “neutral” rating in a research note on Monday, February 13th. Stifel Nicolaus downgraded Buckeye Partners, L.P. from a “buy” rating to a “hold” rating and boosted their target price for the stock from $73.00 to $74.00 in a research note on Monday, February 13th. Zacks Investment Research downgraded Buckeye Partners, L.P. from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Finally, Barclays PLC lowered their target price on Buckeye Partners, L.P. from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Monday, March 6th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $73.20.

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, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

5 Day Chart for NYSE:BPL

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