Shares of Buckeye Partners (NYSE:BPL) have been given an average rating of “Hold” by the fifteen research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $57.45.
BPL has been the topic of a number of recent research reports. Zacks Investment Research downgraded Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Credit Suisse Group initiated coverage on Buckeye Partners in a research report on Thursday, January 4th. They issued an “underperform” rating on the stock. Bank of America initiated coverage on Buckeye Partners in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Barclays lifted their target price on Buckeye Partners from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Finally, Mizuho set a $55.00 target price on Buckeye Partners and gave the company a “hold” rating in a research report on Friday, February 9th.
In related news, SVP Joseph Sauger sold 11,013 shares of Buckeye Partners stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $43.92, for a total transaction of $483,690.96. Following the completion of the transaction, the senior vice president now owns 27,416 shares in the company, valued at $1,204,110.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pieter Bakker sold 2,000 shares of Buckeye Partners stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $46.05, for a total value of $92,100.00. Following the transaction, the director now owns 19,552 shares of the company’s stock, valued at approximately $900,369.60. The disclosure for this sale can be found here. Insiders have sold 13,361 shares of company stock valued at $592,488 in the last quarter. 0.42% of the stock is currently owned by corporate insiders.
Buckeye Partners (NYSE:BPL) traded down $2.12 during trading hours on Wednesday, hitting $40.95. The company had a trading volume of 669,335 shares, compared to its average volume of 844,650. The company has a current ratio of 0.96, a quick ratio of 0.52 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $6,328.36, a P/E ratio of 12.37 and a beta of 1.14. Buckeye Partners has a twelve month low of $39.29 and a twelve month high of $69.95.
Buckeye Partners (NYSE:BPL) last released 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 company had revenue of $946.05 million during the quarter, compared to analyst estimates of $905.02 million. Buckeye Partners had a net margin of 13.13% and a return on equity of 10.02%. Buckeye Partners’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. research analysts anticipate that Buckeye Partners will post 3.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th were issued a dividend of $1.2625 per share. The ex-dividend date was Friday, February 16th. This represents a $5.05 dividend on an annualized basis and a yield of 12.33%. 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%.
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About Buckeye Partners
Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates; refined petroleum products; and crude oil.
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