Brokerages Set Buckeye Partners L.P. (BPL) PT at $66.50
Buckeye Partners L.P. (NYSE:BPL) has earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $65.33.
BPL has been the topic of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price target on shares of Buckeye Partners L.P. in a research report on Sunday, October 29th. TheStreet cut shares of Buckeye Partners L.P. from a “b-” rating to a “c+” rating in a research report on Wednesday, October 25th. Barclays PLC lowered their price target on shares of Buckeye Partners L.P. from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 6th. Credit Suisse Group AG set a $74.00 price target on shares of Buckeye Partners L.P. and gave the company a “hold” rating in a research report on Monday, August 7th. Finally, Royal Bank Of Canada lowered their price target on shares of Buckeye Partners L.P. from $67.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 8th.
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Shares of Buckeye Partners L.P. (BPL) traded down $0.77 on Thursday, reaching $49.74. 860,000 shares of the company’s stock traded hands, compared to its average volume of 562,943. Buckeye Partners L.P. has a 52 week low of $49.39 and a 52 week high of $73.01. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.64 and a current ratio of 1.10. The firm has a market cap of $7,406.99, a PE ratio of 15.45 and a beta of 1.16.
Buckeye Partners L.P. (NYSE:BPL) last announced its earnings results on Friday, November 3rd. The pipeline company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $922.60 million for the quarter, compared to analyst estimates of $795.12 million. Buckeye Partners L.P. had a return on equity of 9.72% and a net margin of 12.69%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the firm earned $1.19 EPS. sell-side analysts predict that Buckeye Partners L.P. will post 3.4 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 13th will be issued a $1.2625 dividend. This is a positive change from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. This represents a $5.05 annualized dividend and a yield of 10.15%. The ex-dividend date of this dividend is Friday, November 10th. Buckeye Partners L.P.’s payout ratio is 154.43%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Hudock Capital Group LLC raised its holdings in Buckeye Partners L.P. by 1,564.7% in the 3rd quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock valued at $110,000 after buying an additional 1,815 shares during the period. Moisand Fitzgerald Tamayo LLC purchased a new stake in Buckeye Partners L.P. in the 3rd quarter valued at about $114,000. Ffcm LLC raised its holdings in Buckeye Partners L.P. by 221.3% in the 2nd quarter. Ffcm LLC now owns 1,764 shares of the pipeline company’s stock valued at $115,000 after buying an additional 1,215 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Buckeye Partners L.P. by 315.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock valued at $118,000 after buying an additional 1,575 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Buckeye Partners L.P. in the 1st quarter valued at about $128,000. Hedge funds and other institutional investors own 68.03% of the company’s stock.
Buckeye Partners L.P. Company 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.
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