Buckeye Partners Upgraded to “Buy” at Citigroup Inc. (BPL)
Buckeye Partners (NYSE:BPL) was upgraded by equities research analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Buckeye Partners (NYSE:BPL) traded up 1.21% on Tuesday, hitting $74.785. The stock had a trading volume of 327,811 shares. Buckeye Partners has a 52 week low of $52.70 and a 52 week high of $74.35. The stock’s 50-day moving average is $71.28 and its 200-day moving average is $68.43. The company has a P/E ratio of 49.52.
Buckeye Partners (NYSE:BPL) last announced its earnings results on Friday, February 7th. The company reported $0.75 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.86 by $0.11. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $0.96 earnings per share. Buckeye Partners’s revenue was up 47.2% compared to the same quarter last year. On average, analysts predict that Buckeye Partners will post $3.72 earnings per share for the current fiscal year.
The company also recently declared a dividend, which is scheduled for Tuesday, February 25th. Shareholders of record on Tuesday, February 18th will be given a dividend of $1.0875 per share. The ex-dividend date of this dividend is Thursday, February 13th.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of Buckeye Partners to $76.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Buckeye Partners from $71.00 to $76.00 in a research note on Monday. They now have an “equal weight” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Buckeye Partners from $75.00 to $80.00 in a research note on Monday, January 6th. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $72.57.
Buckeye Partners, L.P. (NYSE:BPL) is a master limited partnership.
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