Janney Montgomery Scott LLC increased its position in Buckeye Partners, L.P. (NYSE:BPL) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 88,133 shares of the pipeline company’s stock after buying an additional 2,863 shares during the period. Janney Montgomery Scott LLC owned about 0.06% of Buckeye Partners worth $5,024,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BPL. Alps Advisors Inc. boosted its holdings in Buckeye Partners by 11.7% in the 3rd quarter. Alps Advisors Inc. now owns 11,461,563 shares of the pipeline company’s stock worth $653,309,000 after buying an additional 1,204,235 shares during the period. Nordea Investment Management AB bought a new position in Buckeye Partners in the 2nd quarter worth $54,426,000. JPMorgan Chase & Co. boosted its holdings in Buckeye Partners by 23.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,832,115 shares of the pipeline company’s stock worth $158,201,000 after buying an additional 539,206 shares during the period. Center Coast Capital Advisors LP boosted its holdings in Buckeye Partners by 13.5% in the 3rd quarter. Center Coast Capital Advisors LP now owns 3,478,788 shares of the pipeline company’s stock worth $198,291,000 after buying an additional 414,445 shares during the period. Finally, ING Groep NV bought a new position in Buckeye Partners in the 3rd quarter worth $22,230,000. 69.93% of the stock is owned by institutional investors.

Buckeye Partners, L.P. (NYSE:BPL) opened at $48.86 on Thursday. Buckeye Partners, L.P. has a 1-year low of $43.90 and a 1-year high of $73.01. The company has a market cap of $7,107.84, a PE ratio of 14.82 and a beta of 1.11. The company has a current ratio of 1.10, a quick ratio of 0.64 and a debt-to-equity ratio of 0.93.

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

The business also recently disclosed 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. This represents a $5.05 annualized dividend and a dividend yield of 10.34%. The ex-dividend date of this dividend was Friday, November 10th. This is an increase from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio is 154.43%.

In related news, SVP Joseph Sauger sold 5,481 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $47.04, for a total value of $257,826.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

Several research analysts recently weighed in on BPL shares. Stifel Nicolaus dropped their target price on shares of Buckeye Partners from $68.00 to $63.00 and set a “buy” rating for the company in a report on Monday, November 6th. Citigroup dropped their target price on shares of Buckeye Partners from $77.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. UBS dropped their target price on shares of Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Royal Bank of Canada reissued a “hold” rating and set a $67.00 price objective on shares of Buckeye Partners in a report on Wednesday, September 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Buckeye Partners from $66.00 to $61.00 and set a “market perform” rating for the company in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Buckeye Partners currently has an average rating of “Hold” and a consensus target price of $65.33.

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

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