Buckeye Partners (BPL) Given “Equal Weight” Rating at Morgan Stanley

Buckeye Partners (NYSE:BPL)‘s stock had its “equal weight” rating restated by stock analysts at Morgan Stanley in a research report issued to clients and investors on Sunday.

BPL has been the topic of a number of other reports. Zacks Investment Research lowered shares of Buckeye Partners from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. SunTrust Banks set a $48.00 target price on shares of Buckeye Partners and gave the stock a “hold” rating in a report on Thursday, March 15th. Bank of America reduced their target price on shares of Buckeye Partners from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, March 6th. UBS reiterated a “buy” rating and set a $55.00 target price (down from $64.00) on shares of Buckeye Partners in a report on Friday, March 2nd. Finally, Barclays increased their target price on shares of Buckeye Partners from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $57.69.

Buckeye Partners stock traded down $0.91 during trading on Friday, reaching $38.42. 1,190,441 shares of the company’s stock were exchanged, compared to its average volume of 1,037,584. The firm has a market cap of $5,645.13, a price-to-earnings ratio of 11.50 and a beta of 1.14. Buckeye Partners has a 12 month low of $38.35 and a 12 month high of $69.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.52 and a current ratio of 0.96.

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 the Zacks’ consensus estimate of $0.88 by ($0.03). The business 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%. Buckeye Partners’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share. analysts predict that Buckeye Partners will post 3.22 EPS for the current year.

In other news, Director Pieter Bakker sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $46.05, for a total value of $92,100.00. Following the sale, the director now directly owns 19,552 shares in the company, valued at approximately $900,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Sauger sold 11,013 shares of the firm’s stock in a transaction on 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 in the company, valued at $1,204,110.72. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. raised its holdings in shares of Buckeye Partners by 6.3% in the 4th quarter. Alps Advisors Inc. now owns 12,185,717 shares of the pipeline company’s stock valued at $603,802,000 after purchasing an additional 724,154 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Buckeye Partners by 8.3% during the 4th quarter. OppenheimerFunds Inc. now owns 11,438,381 shares of the pipeline company’s stock worth $566,772,000 after acquiring an additional 877,671 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in Buckeye Partners by 1.9% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 10,837,570 shares of the pipeline company’s stock worth $617,741,000 after acquiring an additional 203,880 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Buckeye Partners by 20.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 5,353,758 shares of the pipeline company’s stock worth $265,264,000 after acquiring an additional 916,900 shares in the last quarter. Finally, Advisory Research Inc. raised its stake in Buckeye Partners by 7.2% during the 4th quarter. Advisory Research Inc. now owns 3,599,716 shares of the pipeline company’s stock worth $178,366,000 after acquiring an additional 243,273 shares in the last quarter. Institutional investors and hedge funds own 70.30% of the company’s stock.

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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.

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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