Weekly Investment Analysts’ Ratings Updates for Buckeye Partners (BPL)

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Buckeye Partners (NYSE: BPL) has recently received a number of price target changes and ratings updates:

  • 2/8/2019 – Buckeye Partners was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 1/29/2019 – Buckeye Partners was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 1/29/2019 – Buckeye Partners was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Rising debt expenses and gradual stability in energy prices are a matter of great concern for Buckeye Partners. The Buckeye Partners’ dependence on limited group of customers for bulk of its storage revenues could adversely impact the partnership’s performance. The rising interest rates will definitely increase the cost of completion of the projects and impact its cash flows and financial position. In the last 12 months units of Buckeye Partners have lost wider than its industry. However, Buckeye Partners has an attractive portfolio of refined petroleum-product transportation and storage assets in the key geographical markets. Its organic capital growth projects will drive the performance in the domestic as well as in the international arenas.”
  • 1/23/2019 – Buckeye Partners was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Last month units of Buckeye Partners have outperformed its industry. Buckeye Partners has an attractive portfolio of refined petroleum-product transportation and storage assets in the key geographical markets. Its organic capital growth projects will drive the performance in the domestic as well as in the international arenas. However, rising debt expenses and gradual stability in energy prices are a matter of great concern for Buckeye Partners. The Buckeye Partners’ dependence on limited group of customers for bulk of its storage revenues could adversely impact the partnership’s performance. The rising interest rates will definitely increase the cost of completion of the projects and impact its cash flows and financial position.”
  • 1/16/2019 – Buckeye Partners was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Rising debt expenses and gradual stability in energy prices are a matter of great concern for Buckeye Partners. The Buckeye Partners’ dependence on limited group of customers for bulk of its storage revenues could adversely impact the partnership’s performance. The rising interest rates will definitely increase the cost of completion of the projects and impact its cash flows and financial position. In the last 12 months units of Buckeye Partners have lost wider than its industry. However, Buckeye Partners has an attractive portfolio of refined petroleum-product transportation and storage assets in the key geographical markets. Its organic capital growth projects will drive the performance in the domestic as well as in the international arenas.”
  • 1/16/2019 – Buckeye Partners was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $38.00 price target on the stock, up previously from $35.00.
  • 1/10/2019 – Buckeye Partners was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Units of Buckeye Partners have outperformed its industry in the last one month. Buckeye Partners has an attractive portfolio of refined petroleum-product transportation and storage assets in the key geographical markets. Its organic capital growth projects will drive the performance in the domestic as well as in the international arenas. Along with all the expansion plans on track, the partnership has a healthy backlog of projects and expects the same to contribute to the firm’s performance by 2019-2020. However, Rising debt expenses and gradual stability in energy prices are a matter of great concern for Buckeye Partners. The Buckeye Partners’ dependence on limited group of customers for bulk of its storage revenues could adversely impact the partnership’s performance. The rising interest rates will definitely increase the cost of completion of the projects and impact its cash flows and financial position.”
  • 1/3/2019 – Buckeye Partners was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Units of Buckeye Partners have outperformed its industry in the last one month. Buckeye Partners has an attractive portfolio of refined petroleum-product transportation and storage assets in the key geographical markets. Its organic capital growth projects will drive the performance in the domestic as well as in the international arenas. Along with the ongoing long-term projects of the partnership, the expansion of facilities in Tampa will increase connectivity and optionality for its customers by adding rail offloading capabilities, new barge dock capabilities and new pipeline connections. However, rising debt expenses and gradual stability in energy prices are a matter of great concern for Buckeye Partners. The Buckeye Partners’ dependence on limited group of customers for bulk of its storage revenues could adversely impact the partnership’s performance.”
  • 1/3/2019 – Buckeye Partners had its price target lowered by analysts at Goldman Sachs Group Inc from $34.00 to $30.00.
  • 1/2/2019 – Buckeye Partners was downgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “sell” rating. They now have a $30.00 price target on the stock, down previously from $34.00.
  • 12/31/2018 – Buckeye Partners was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 12/20/2018 – Buckeye Partners was given a new $34.00 price target on by analysts at Stifel Nicolaus. They now have a “buy” rating on the stock.
  • 12/15/2018 – Buckeye Partners was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

Buckeye Partners stock opened at $30.95 on Monday. The company has a market cap of $4.55 billion, a PE ratio of 17.29 and a beta of 1.08. The company has a current ratio of 0.96, a quick ratio of 0.63 and a debt-to-equity ratio of 1.29. Buckeye Partners, L.P. has a 1 year low of $25.71 and a 1 year high of $51.95.

Buckeye Partners (NYSE:BPL) last released its quarterly earnings data on Friday, February 8th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.21. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $958.86 million. Buckeye Partners had a negative net margin of 1.44% and a positive return on equity of 9.41%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. As a group, analysts anticipate that Buckeye Partners, L.P. will post 2.61 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Tuesday, February 26th. Investors of record on Tuesday, February 19th will be given a $0.75 dividend. The ex-dividend date is Friday, February 15th. Buckeye Partners’s dividend payout ratio is presently 167.60%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Investment Advisory Services LLC bought a new stake in Buckeye Partners in the fourth quarter worth $36,000. Ipswich Investment Management Co. Inc. purchased a new stake in shares of Buckeye Partners during the fourth quarter valued at $122,000. Advisors Asset Management Inc. boosted its stake in shares of Buckeye Partners by 3,747.9% during the second quarter. Advisors Asset Management Inc. now owns 167,229 shares of the pipeline company’s stock valued at $142,000 after purchasing an additional 162,883 shares during the period. First Hawaiian Bank purchased a new stake in shares of Buckeye Partners during the third quarter valued at $143,000. Finally, Girard Partners LTD. purchased a new stake in shares of Buckeye Partners during the third quarter valued at $163,000. Institutional investors own 68.89% of the company’s stock.

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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