Buckeye Partners, L.P. (NYSE:BPL) Director Joseph A. Lasala, Jr. sold 4,000 shares of Buckeye Partners stock in a transaction on Monday, August 19th. The shares were sold at an average price of $41.00, for a total value of $164,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $410,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Buckeye Partners stock traded up $0.03 during trading hours on Tuesday, hitting $41.04. The company’s stock had a trading volume of 306,051 shares, compared to its average volume of 1,585,743. The business has a 50 day moving average price of $41.35 and a two-hundred day moving average price of $37.26. Buckeye Partners, L.P. has a 12-month low of $25.71 and a 12-month high of $42.65. The company has a market cap of $6.31 billion, a PE ratio of 22.92 and a beta of 0.69. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.64 and a current ratio of 0.91.
Buckeye Partners (NYSE:BPL) last announced its quarterly earnings data on Thursday, August 1st. The pipeline company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Buckeye Partners had a positive return on equity of 9.82% and a negative net margin of 2.43%. The business had revenue of $791.70 million for the quarter, compared to the consensus estimate of $1.01 billion. As a group, research analysts anticipate that Buckeye Partners, L.P. will post 2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.00 annualized dividend and a dividend yield of 7.31%. Buckeye Partners’s dividend payout ratio (DPR) is 167.60%.
Several hedge funds have recently modified their holdings of BPL. FMR LLC lifted its stake in Buckeye Partners by 150,500.0% in the fourth quarter. FMR LLC now owns 1,506 shares of the pipeline company’s stock valued at $43,000 after buying an additional 1,505 shares during the period. Pennsylvania Trust Co acquired a new position in Buckeye Partners in the first quarter valued at approximately $257,000. Eagle Global Advisors LLC acquired a new position in Buckeye Partners in the first quarter valued at approximately $22,206,000. Conning Inc. lifted its stake in Buckeye Partners by 70.5% in the first quarter. Conning Inc. now owns 101,065 shares of the pipeline company’s stock valued at $3,438,000 after buying an additional 41,772 shares during the period. Finally, Avalon Advisors LLC acquired a new position in Buckeye Partners in the first quarter valued at approximately $227,000. 73.58% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on BPL shares. Barclays downgraded Buckeye Partners from an “overweight” rating to an “equal weight” rating in a research report on Monday, May 13th. Argus reiterated a “sell” rating on shares of Buckeye Partners in a research report on Monday, August 12th. Zacks Investment Research upgraded Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Stifel Nicolaus downgraded 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. Finally, US Capital Advisors downgraded Buckeye Partners from an “overweight” rating to a “hold” rating in a research report on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Buckeye Partners currently has an average rating of “Hold” and a consensus target price of $37.37.
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.
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