Williams Jones & Associates LLC raised its holdings in shares of Buckeye Partners, L.P. (NYSE:BPL) by 7.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,965 shares of the pipeline company’s stock after acquiring an additional 2,125 shares during the quarter. Williams Jones & Associates LLC’s holdings in Buckeye Partners were worth $985,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BPL. Harvest Group Wealth Management LLC acquired a new stake in shares of Buckeye Partners during the 1st quarter valued at about $28,000. Ellevest Inc. acquired a new stake in Buckeye Partners in the 1st quarter worth approximately $31,000. Legacy Advisors LLC acquired a new stake in Buckeye Partners in the 1st quarter worth approximately $34,000. Capital Investment Advisory Services LLC acquired a new stake in Buckeye Partners in the 4th quarter worth approximately $36,000. Finally, FMR LLC lifted its holdings in Buckeye Partners by 150,500.0% in the 4th quarter. FMR LLC now owns 1,506 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 1,505 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.

NYSE:BPL traded down $0.01 during trading hours on Wednesday, reaching $40.73. The company had a trading volume of 97,465 shares, compared to its average volume of 1,469,551. Buckeye Partners, L.P. has a one year low of $25.71 and a one year high of $42.65. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 22.77 and a beta of 0.73. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.92 and a quick ratio of 0.63.

Buckeye Partners (NYSE:BPL) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.07). Buckeye Partners had a negative net margin of 2.29% and a positive return on equity of 9.46%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company earned $0.74 earnings per share. The business’s revenue was down 13.0% on a year-over-year basis. Research analysts expect that Buckeye Partners, L.P. will post 2.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend was Friday, May 17th. Buckeye Partners’s dividend payout ratio (DPR) is 167.60%.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Buckeye Partners from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. ValuEngine cut Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Stifel Nicolaus cut Buckeye Partners from a “buy” rating to a “hold” rating and boosted their price objective for the company from $34.00 to $41.50 in a research report on Monday, May 13th. UBS Group cut Buckeye Partners from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $36.00 to $41.50 in a research report on Wednesday, May 15th. Finally, Argus cut Buckeye Partners from a “hold” rating to a “sell” rating and set a $41.80 price objective on the stock. in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.84.

In other Buckeye Partners news, SVP Todd J. Russo sold 8,740 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $40.96, for a total value of $357,990.40. Following the transaction, the senior vice president now owns 5,092 shares of the company’s stock, valued at $208,568.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Gary L. Bohnsack sold 2,500 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $41.73, for a total value of $104,325.00. Following the completion of the transaction, the vice president now directly owns 422 shares in the company, valued at approximately $17,610.06. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

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

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