Naples Global Advisors LLC reduced its stake in shares of Buckeye Partners, L.P. (NYSE:BPL) by 23.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,200 shares of the pipeline company’s stock after selling 1,550 shares during the period. Naples Global Advisors LLC’s holdings in Buckeye Partners were worth $258,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Narwhal Capital Management raised its holdings in Buckeye Partners by 51.7% during the 3rd quarter. Narwhal Capital Management now owns 16,750 shares of the pipeline company’s stock worth $955,000 after buying an additional 5,710 shares during the period. Alliancebernstein L.P. raised its holdings in Buckeye Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 33,970 shares of the pipeline company’s stock worth $2,172,000 after buying an additional 1,902 shares during the period. Ameriprise Financial Inc. raised its holdings in Buckeye Partners by 135.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 32,699 shares of the pipeline company’s stock worth $2,090,000 after buying an additional 18,797 shares during the period. GSA Capital Partners LLP acquired a new stake in Buckeye Partners during the 2nd quarter worth approximately $254,000. Finally, Cadence Capital Management LLC acquired a new stake in Buckeye Partners during the 3rd quarter worth approximately $8,417,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.
Several analysts have commented on the stock. Bank of America assumed coverage on shares of Buckeye Partners in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Buckeye Partners from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Citigroup dropped their target price on shares of Buckeye Partners from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Barclays lowered their price objective on shares of Buckeye Partners from $64.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, November 6th. Finally, Wells Fargo & Co lowered their price objective on shares of Buckeye Partners from $66.00 to $61.00 and set a “market perform” rating on the stock in a report on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $64.91.
Shares of Buckeye Partners, L.P. (NYSE:BPL) opened at $55.02 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.10 and a debt-to-equity ratio of 0.93. Buckeye Partners, L.P. has a fifty-two week low of $43.90 and a fifty-two week high of $73.01. The stock has a market cap of $7,961.31, a P/E ratio of 16.83 and a beta of 1.10.
Buckeye Partners (NYSE:BPL) last posted its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.05). Buckeye Partners had a net margin of 12.69% and a return on equity of 9.72%. The business had revenue of $922.60 million during the quarter, compared to analyst estimates of $795.12 million. During the same quarter last year, the business earned $1.19 earnings per share. Buckeye Partners’s revenue for the quarter was up 20.3% on a year-over-year basis. sell-side analysts predict that Buckeye Partners, L.P. will post 3.37 EPS for the current fiscal year.
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Buckeye Partners 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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