Very Favorable News Coverage Extremely Likely to Affect Buckeye Partners L.P. (BPL) Stock Price
Headlines about Buckeye Partners L.P. (NYSE:BPL) have trended very positive on Sunday, according to Alpha One Sentiment Analysis. The research firm, a service of Accern, identifies positive and negative media coverage by monitoring more than 20 million blog and news sources. Alpha One ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Buckeye Partners L.P. earned a media sentiment score of 0.57 on Alpha One’s scale. Alpha One also assigned news coverage about the pipeline company an impact score of 100 out of 100, indicating that recent media coverage is extremely likely to have an impact on the company’s share price in the near term.
These are some of the news articles that may have effected Alpha One Sentiment’s analysis:
- Buckeye Partners L.P. (BPL) Sees New 52-Week High (highlightpress.com)
- The Math Shows ZMLP Can Go To $20 – Nasdaq (nasdaq.com)
- Trust Asset Management Maintains Stake in Buckeye Partners LP (BPL), As Texas Instruments (TXN) Share Price Rose … – BZ Weekly (bzweekly.com)
- Igniting Curiosity, Investor Update on Buckeye Partners, LP (NYSE:BPL) and IDEX Corporation (NYSE:IEX) – FLBC News (flbcnews.com)
- Stock Performance Review on Oil and Gas Pipelines Industry … – BOE Report (press release) (boereport.com)
BPL has been the topic of several research reports. Royal Bank Of Canada restated a “hold” rating and set a $73.00 price objective on shares of Buckeye Partners L.P. in a report on Wednesday, April 19th. SunTrust Banks, Inc. initiated coverage on shares of Buckeye Partners L.P. in a report on Monday, March 20th. They set a “hold” rating and a $72.00 price objective on the stock. Stifel Nicolaus upgraded shares of Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Monday, May 8th. They noted that the move was a valuation call. Barclays PLC lowered their price objective on shares of Buckeye Partners L.P. from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Monday, March 6th. Finally, Guggenheim initiated coverage on shares of Buckeye Partners L.P. in a report on Monday, April 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $73.20.
Shares of Buckeye Partners L.P. (BPL) traded up 0.34% during mid-day trading on Friday, hitting $61.34. 1,196,895 shares of the stock traded hands. Buckeye Partners L.P. has a 1-year low of $60.56 and a 1-year high of $75.10. The company has a market capitalization of $8.62 billion, a PE ratio of 15.75 and a beta of 1.15. The company’s 50-day moving average price is $65.38 and its 200 day moving average price is $66.90.
Buckeye Partners L.P. (NYSE:BPL) last posted its quarterly earnings results on Friday, May 5th. The pipeline company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.12. The company had revenue of $969.30 million during the quarter, compared to analysts’ expectations of $848.34 million. Buckeye Partners L.P. had a return on equity of 12.03% and a net margin of 15.36%. Buckeye Partners L.P.’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. Equities research analysts forecast that Buckeye Partners L.P. will post $4.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 8.15%. The ex-dividend date of this dividend was Thursday, May 11th. This is a positive change from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. Buckeye Partners L.P.’s payout ratio is currently 127.55%.
In other news, EVP Robert A. Malecky sold 6,955 shares of Buckeye Partners L.P. stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $69.00, for a total value of $479,895.00. Following the completion of the transaction, the executive vice president now owns 80,559 shares of the company’s stock, valued at approximately $5,558,571. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Todd J. Russo sold 3,280 shares of Buckeye Partners L.P. stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $67.00, for a total value of $219,760.00. Following the completion of the transaction, the senior vice president now directly owns 14,106 shares of the company’s stock, valued at approximately $945,102. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.
About Buckeye Partners L.P.
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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