Shares of Buckeye Partners (NYSE:BPL) have earned a consensus rating of “Hold” from the seventeen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $50.00.
A number of brokerages have commented on BPL. ValuEngine downgraded shares of Buckeye Partners from a “sell” rating to a “strong sell” rating in a research note on Friday. Stifel Nicolaus set a $45.00 target price on shares of Buckeye Partners and gave the stock a “buy” rating in a research note on Monday. Citigroup downgraded shares of Buckeye Partners from a “buy” rating to a “neutral” rating and set a $55.00 target price on the stock. in a research note on Monday. Mizuho restated a “hold” rating and issued a $45.00 target price on shares of Buckeye Partners in a research note on Wednesday, April 11th. Finally, Bank of America dropped their target price on shares of Buckeye Partners from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 6th.
In other Buckeye Partners news, Director Mark C. Mckinley purchased 1,000 shares of the stock in a transaction dated Friday, March 23rd. The stock was purchased at an average price of $38.46 per share, with a total value of $38,460.00. Following the transaction, the director now owns 26,000 shares of the company’s stock, valued at $999,960. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Joseph Sauger sold 11,013 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $43.92, for a total transaction of $483,690.96. Following the completion of the sale, the senior vice president now directly owns 27,416 shares of the company’s stock, valued at approximately $1,204,110.72. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in BPL. Aevitas Wealth Management Inc. acquired a new stake in shares of Buckeye Partners during the fourth quarter worth approximately $102,000. Captrust Financial Advisors bought a new stake in shares of Buckeye Partners during the fourth quarter valued at about $160,000. Strategic Capital Advisers Inc. bought a new stake in shares of Buckeye Partners during the fourth quarter valued at about $207,000. Haverford Trust Co. bought a new stake in shares of Buckeye Partners during the fourth quarter valued at about $209,000. Finally, Stuart Chaussee & Associates Inc. bought a new stake in shares of Buckeye Partners during the fourth quarter valued at about $211,000. 69.68% of the stock is owned by hedge funds and other institutional investors.
NYSE:BPL traded down $0.03 during mid-day trading on Thursday, hitting $39.10. 209,998 shares of the stock traded hands, compared to its average volume of 963,638. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 11.78 and a beta of 1.18. Buckeye Partners has a 52 week low of $35.24 and a 52 week high of $67.91. The company has a current ratio of 0.96, a quick ratio of 0.52 and a debt-to-equity ratio of 0.96.
Buckeye Partners (NYSE:BPL) last issued its quarterly earnings results on Friday, May 4th. The pipeline company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $919.90 million. Buckeye Partners had a net margin of 12.11% and a return on equity of 9.71%. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. equities analysts forecast that Buckeye Partners will post 3.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 21st. Stockholders of record on Monday, May 14th will be given a $1.2625 dividend. This represents a $5.05 annualized dividend and a dividend yield of 12.92%. The ex-dividend date of this dividend is Friday, May 11th. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio is presently 152.11%.
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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