ING Groep NV purchased a new stake in shares of Buckeye Partners L.P. (NYSE:BPL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 390,000 shares of the pipeline company’s stock, valued at approximately $22,230,000. ING Groep NV owned about 0.27% of Buckeye Partners L.P. as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Narwhal Capital Management boosted its holdings in shares of Buckeye Partners L.P. by 51.7% during the 3rd quarter. Narwhal Capital Management now owns 16,750 shares of the pipeline company’s stock valued at $955,000 after acquiring an additional 5,710 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Buckeye Partners L.P. by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 33,970 shares of the pipeline company’s stock valued at $2,172,000 after acquiring an additional 1,902 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Buckeye Partners L.P. by 38.4% during the 2nd quarter. Evergreen Capital Management LLC now owns 175,235 shares of the pipeline company’s stock valued at $11,203,000 after acquiring an additional 48,585 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Buckeye Partners L.P. by 135.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 32,699 shares of the pipeline company’s stock valued at $2,090,000 after acquiring an additional 18,797 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Buckeye Partners L.P. during the 2nd quarter valued at about $254,000. 63.25% of the stock is currently owned by hedge funds and other institutional investors.

BPL has been the topic of a number of recent analyst reports. Citigroup Inc. dropped their price target on shares of Buckeye Partners L.P. from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $69.00 price target on shares of Buckeye Partners L.P. in a report on Sunday, September 10th. UBS AG dropped their price target on shares of Buckeye Partners L.P. from $76.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th. TheStreet downgraded shares of Buckeye Partners L.P. from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Finally, Barclays PLC dropped their price objective on shares of Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, August 7th. One research analyst has 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. Buckeye Partners L.P. presently has a consensus rating of “Hold” and a consensus target price of $65.33.

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Shares of Buckeye Partners L.P. (BPL) traded up $0.60 during trading hours on Wednesday, reaching $46.62. 325,851 shares of the company’s stock traded hands, compared to its average volume of 575,967. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.10 and a quick ratio of 0.64. Buckeye Partners L.P. has a twelve month low of $45.95 and a twelve month high of $73.01. The stock has a market capitalization of $6,952.39, a P/E ratio of 14.50 and a beta of 1.16.

Buckeye Partners L.P. (NYSE:BPL) last issued its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Buckeye Partners L.P. had a net margin of 12.69% and a return on equity of 9.72%. The firm had revenue of $922.60 million for the quarter, compared to analysts’ expectations of $795.12 million. During the same period in the prior year, the firm earned $1.19 EPS. Buckeye Partners L.P.’s revenue for the quarter was up 20.3% compared to the same quarter last year. research analysts expect that Buckeye Partners L.P. will post 3.4 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 13th were issued a dividend of $1.2625 per share. The ex-dividend date was Friday, November 10th. This represents a $5.05 annualized dividend and a yield of 10.83%. This is an increase from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. Buckeye Partners L.P.’s payout ratio is currently 154.43%.

Buckeye Partners L.P. Profile

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

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

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