Buckeye Partners, L.P. (NYSE:BPL) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $38.75.
Several equities analysts recently commented on BPL shares. Argus reiterated a “sell” rating on shares of Buckeye Partners in a report on Monday, August 12th. ValuEngine lowered shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.
Shares of Buckeye Partners stock remained flat at $$41.46 during trading on Friday. The stock’s 50-day moving average is $41.45 and its 200-day moving average is $41.21. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 23.16 and a beta of 0.70. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.64. Buckeye Partners has a 52-week low of $25.71 and a 52-week high of $42.65.
Large investors have recently modified their holdings of the company. Man Group plc boosted its holdings in Buckeye Partners by 146.3% in the 3rd quarter. Man Group plc now owns 952,120 shares of the pipeline company’s stock valued at $39,123,000 after purchasing an additional 565,473 shares in the last quarter. Moab Capital Partners LLC bought a new position in shares of Buckeye Partners during the third quarter valued at approximately $17,581,000. Zimmer Partners LP bought a new position in shares of Buckeye Partners during the third quarter valued at approximately $4,494,000. Castleark Management LLC boosted its stake in shares of Buckeye Partners by 17.1% during the third quarter. Castleark Management LLC now owns 88,733 shares of the pipeline company’s stock valued at $3,646,000 after purchasing an additional 12,962 shares in the last quarter. Finally, KCM Investment Advisors LLC purchased a new position in Buckeye Partners during the third quarter valued at approximately $411,000. 77.51% of the stock is currently owned by institutional investors and hedge funds.
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.
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