Green Square Capital LLC Has $5.63 Million Position in Buckeye Partners (BPL)

Green Square Capital LLC lowered its holdings in Buckeye Partners (NYSE:BPL) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,528 shares of the pipeline company’s stock after selling 3,314 shares during the period. Green Square Capital LLC owned about 0.08% of Buckeye Partners worth $5,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Aevitas Wealth Management Inc. purchased a new position in Buckeye Partners in the fourth quarter valued at about $102,000. BNP Paribas Arbitrage SA boosted its holdings in Buckeye Partners by 315.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock valued at $118,000 after purchasing an additional 1,575 shares during the last quarter. Captrust Financial Advisors purchased a new position in Buckeye Partners in the fourth quarter valued at about $160,000. Strategic Capital Advisers Inc. purchased a new position in Buckeye Partners in the fourth quarter valued at about $207,000. Finally, Haverford Trust Co. purchased a new position in Buckeye Partners in the fourth quarter valued at about $209,000. 70.30% of the stock is owned by hedge funds and other institutional investors.

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A number of brokerages recently commented on BPL. Morgan Stanley downgraded Buckeye Partners from an “overweight” rating to an “equal weight” rating in a report on Friday. Zacks Investment Research raised Buckeye Partners from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. SunTrust Banks set a $48.00 price target on Buckeye Partners and gave the company a “hold” rating in a report on Thursday, March 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $50.00 target price (down previously from $56.00) on shares of Buckeye Partners in a report on Tuesday, March 13th. Finally, Bank of America reduced their target price on Buckeye Partners from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, March 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $58.83.

In related news, Director Pieter Bakker sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $46.05, for a total value of $92,100.00. Following the sale, the director now owns 19,552 shares of the company’s stock, valued at approximately $900,369.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Joseph Sauger sold 11,013 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $43.92, for a total value of $483,690.96. Following the completion of the sale, the senior vice president now directly owns 27,416 shares in the company, valued at approximately $1,204,110.72. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Buckeye Partners (NYSE:BPL) opened at $38.95 on Friday. 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 $38.95 and a 1-year high of $69.95. The company has a market capitalization of $5,950.75, a P/E ratio of 11.78 and a beta of 1.14.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th were issued a $1.2625 dividend. This is an increase from Buckeye Partners’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.05 annualized dividend and a dividend yield of 12.97%. Buckeye Partners’s dividend payout ratio (DPR) is 151.20%.

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Buckeye Partners Company Profile

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.

Institutional Ownership by Quarter for Buckeye Partners (NYSE:BPL)

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