Buckeye Partners (NYSE:BPL) had its price objective decreased by JPMorgan Chase & Co. from $42.00 to $39.00 in a research report sent to investors on Friday morning. JPMorgan Chase & Co. currently has a neutral rating on the pipeline company’s stock.

A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus cut their price target on shares of Buckeye Partners from $45.00 to $43.00 and set a buy rating on the stock in a report on Monday, August 6th. Citigroup cut their price target on shares of Buckeye Partners from $39.00 to $34.00 and set a neutral rating on the stock in a report on Tuesday, July 31st. Zacks Investment Research cut shares of Buckeye Partners from a hold rating to a sell rating in a report on Wednesday, July 25th. Bank of America cut their price target on shares of Buckeye Partners from $41.00 to $36.00 and set a neutral rating on the stock in a report on Tuesday, July 24th. Finally, SunTrust Banks cut shares of Buckeye Partners from a hold rating to a sell rating and set a $72.00 price target on the stock. in a report on Monday, July 23rd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Buckeye Partners currently has an average rating of Hold and a consensus target price of $46.75.

Shares of NYSE BPL opened at $36.92 on Friday. Buckeye Partners has a fifty-two week low of $32.03 and a fifty-two week high of $59.67. The company has a quick ratio of 0.70, a current ratio of 1.01 and a debt-to-equity ratio of 1.02. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 11.12 and a beta of 1.18.

Buckeye Partners (NYSE:BPL) last posted its quarterly earnings results on Friday, August 3rd. The pipeline company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.10). Buckeye Partners had a net margin of 11.19% and a return on equity of 9.12%. The firm had revenue of $940.84 million for the quarter, compared to analysts’ expectations of $811.12 million. During the same quarter in the previous year, the company earned $0.80 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. sell-side analysts anticipate that Buckeye Partners will post 2.86 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 20th. Investors of record on Monday, August 13th were issued a $1.2625 dividend. The ex-dividend date was Friday, August 10th. This represents a $5.05 annualized dividend and a yield of 13.68%. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio (DPR) is currently 152.11%.

A number of hedge funds have recently modified their holdings of the stock. Groesbeck Investment Management Corp NJ boosted its holdings in Buckeye Partners by 12.5% in the second quarter. Groesbeck Investment Management Corp NJ now owns 12,096 shares of the pipeline company’s stock worth $425,000 after purchasing an additional 1,345 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Buckeye Partners by 0.8% in the first quarter. Evergreen Capital Management LLC now owns 182,745 shares of the pipeline company’s stock worth $6,833,000 after purchasing an additional 1,450 shares during the last quarter. LVW Advisors LLC boosted its holdings in Buckeye Partners by 22.8% in the second quarter. LVW Advisors LLC now owns 8,224 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 1,525 shares during the last quarter. Stephens Inc. AR boosted its holdings in Buckeye Partners by 37.8% in the first quarter. Stephens Inc. AR now owns 5,748 shares of the pipeline company’s stock worth $215,000 after purchasing an additional 1,576 shares during the last quarter. Finally, Adams Asset Advisors LLC boosted its holdings in Buckeye Partners by 4.0% in the second quarter. Adams Asset Advisors LLC now owns 51,534 shares of the pipeline company’s stock worth $1,811,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 69.87% of the company’s stock.

About Buckeye Partners

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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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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