Buckeye Partners (BPL) Earns “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Buckeye Partners (NYSE:BPL) in a research report released on Tuesday. JPMorgan Chase & Co. currently has a $50.00 price target on the pipeline company’s stock, down from their prior price target of $56.00.

A number of other brokerages have also recently issued reports on BPL. Bank of America dropped their target price on shares of Buckeye Partners from $55.00 to $52.00 and set a neutral rating for the company in a research report on Tuesday, March 6th. Mizuho set a $55.00 target price on shares of Buckeye Partners and gave the stock a hold rating in a research report on Friday, February 9th. Barclays dropped their target price on shares of Buckeye Partners from $58.00 to $55.00 and set an equal weight rating for the company in a research report on Monday, February 12th. Credit Suisse Group started coverage on shares of Buckeye Partners in a research report on Thursday, January 4th. They set an underperform rating for the company. Finally, Stifel Nicolaus set a $56.00 target price on shares of Buckeye Partners and gave the stock a buy rating in a research report on Sunday, February 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Buckeye Partners has an average rating of Hold and an average price target of $58.83.

How to Become a New Pot Stock Millionaire

Shares of Buckeye Partners (NYSE:BPL) opened at $42.23 on Tuesday. The stock has a market cap of $6,576.68, a PE ratio of 12.64 and a beta of 1.14. The company has a current ratio of 0.96, a quick ratio of 0.52 and a debt-to-equity ratio of 0.96. Buckeye Partners has a 1 year low of $39.29 and a 1 year high of $69.95.

Buckeye Partners (NYSE:BPL) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.03). The firm had revenue of $946.05 million for the quarter, compared to analyst estimates of $905.02 million. Buckeye Partners had a return on equity of 10.02% and a net margin of 13.13%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. analysts expect that Buckeye Partners will post 3.22 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 20th were given a $1.2625 dividend. This represents a $5.05 annualized dividend and a yield of 11.96%. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio (DPR) is presently 151.20%.

In other Buckeye Partners news, Director Pieter Bakker sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $46.05, for a total value of $92,100.00. Following the completion of the sale, the director now owns 19,552 shares in the company, valued at approximately $900,369.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Joseph Sauger sold 11,013 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $43.92, for a total transaction of $483,690.96. Following the completion of the sale, the senior vice president now owns 27,416 shares of the company’s stock, valued at approximately $1,204,110.72. The disclosure for this sale can be found here. Insiders sold a total of 13,361 shares of company stock valued at $592,488 in the last 90 days. Corporate insiders own 0.42% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BPL. The Manufacturers Life Insurance Company increased its position in Buckeye Partners by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,339 shares of the pipeline company’s stock valued at $277,000 after acquiring an additional 332 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Buckeye Partners by 11.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 56,747 shares of the pipeline company’s stock valued at $3,235,000 after acquiring an additional 5,628 shares in the last quarter. Keybank National Association OH increased its position in Buckeye Partners by 35.8% in the 3rd quarter. Keybank National Association OH now owns 22,356 shares of the pipeline company’s stock valued at $1,274,000 after acquiring an additional 5,890 shares in the last quarter. Jennison Associates LLC increased its position in Buckeye Partners by 11.7% in the 3rd quarter. Jennison Associates LLC now owns 297,155 shares of the pipeline company’s stock valued at $16,938,000 after acquiring an additional 31,201 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Buckeye Partners by 315.0% in 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. Hedge funds and other institutional investors own 70.52% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://www.tickerreport.com/banking-finance/3266319/buckeye-partners-bpl-earns-neutral-rating-from-jpmorgan-chase-co.html.

About Buckeye Partners

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.

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

Receive News & Ratings for Buckeye Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Liberum Capital Reiterates Hold Rating for Sports Direct
Liberum Capital Reiterates Hold Rating for Sports Direct
RWS  Rating Reiterated by Shore Capital
RWS Rating Reiterated by Shore Capital
WPP’s  Hold Rating Reiterated at Deutsche Bank
WPP’s Hold Rating Reiterated at Deutsche Bank
Berenberg Bank Raises Ten Entertainment Group  Price Target to GBX 310
Berenberg Bank Raises Ten Entertainment Group Price Target to GBX 310
Evonik Industries  Given a €27.00 Price Target by UBS Analysts
Evonik Industries Given a €27.00 Price Target by UBS Analysts
eMagin  Sees Large Decline in Short Interest
eMagin Sees Large Decline in Short Interest


© 2006-2018 Ticker Report. Google+.