Shares of Buckeye Partners, L.P. (NYSE:BPL) have received a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has 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 1-year price target among brokerages that have covered the stock in the last year is $35.69.
BPL has been the subject of several research reports. Zacks Investment Research raised Buckeye Partners from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Monday, February 11th. ValuEngine raised Buckeye Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, February 8th. UBS Group raised Buckeye Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $36.00 in a research note on Thursday, March 7th. Goldman Sachs Group cut Buckeye Partners from a “neutral” rating to a “sell” rating and lowered their target price for the company from $34.00 to $30.00 in a research note on Wednesday, January 2nd. Finally, Barclays raised Buckeye Partners from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $35.00 to $38.00 in a research note on Wednesday, January 16th.
Several institutional investors have recently made changes to their positions in the stock. Pennsylvania Trust Co acquired a new stake in shares of Buckeye Partners during the first quarter worth $257,000. Old North State Trust LLC grew its stake in shares of Buckeye Partners by 1,351.4% during the first quarter. Old North State Trust LLC now owns 2,685 shares of the pipeline company’s stock worth $91,000 after purchasing an additional 2,500 shares during the period. Chickasaw Capital Management LLC grew its stake in shares of Buckeye Partners by 0.4% during the first quarter. Chickasaw Capital Management LLC now owns 5,936,463 shares of the pipeline company’s stock worth $201,958,000 after purchasing an additional 21,103 shares during the period. Legacy Advisors LLC acquired a new stake in shares of Buckeye Partners during the first quarter worth $34,000. Finally, Deutsche Bank AG grew its stake in shares of Buckeye Partners by 36.5% during the fourth quarter. Deutsche Bank AG now owns 521,470 shares of the pipeline company’s stock worth $15,116,000 after purchasing an additional 139,542 shares during the period. 70.31% of the stock is owned by institutional investors and hedge funds.
NYSE BPL opened at $33.15 on Thursday. The firm has a market capitalization of $5.10 billion, a PE ratio of 11.84 and a beta of 1.11. Buckeye Partners has a 52 week low of $25.71 and a 52 week high of $42.68. The company has a quick ratio of 0.28, a current ratio of 0.46 and a debt-to-equity ratio of 0.97.
Buckeye Partners (NYSE:BPL) last released its earnings results on Friday, February 8th. The pipeline company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.21. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $958.86 million. Buckeye Partners had a positive return on equity of 9.65% and a negative net margin of 1.44%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. As a group, equities research analysts expect that Buckeye Partners will post 2.57 EPS for the current year.
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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