Buckeye Partners CEO Sells $750,300 in Stock (BPL)
Buckeye Partners (NYSE:BPL) CEO Clark C. Smith unloaded 10,000 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $75.03, for a total value of $750,300.00. Following the completion of the transaction, the chief executive officer now directly owns 46,305 shares in the company, valued at approximately $3,474,264. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on BPL. Analysts at Citigroup Inc. upgraded shares of Buckeye Partners from a “neutral” rating to a “buy” rating in a research note on Tuesday. Separately, 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. Finally, 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $72.57.
Buckeye Partners (NYSE:BPL) traded down 0.06% during mid-day trading on Thursday, hitting $74.3944. The stock had a trading volume of 170,433 shares. Buckeye Partners has a 1-year low of $52.70 and a 1-year high of $75.83. The stock’s 50-day moving average is $71. and its 200-day moving average is $68.50. The company has a price-to-earnings ratio of 49.89.
Buckeye Partners (NYSE:BPL) last announced its earnings results on Friday, February 7th. The company reported $0.75 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.96 earnings per share. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, analysts predict that Buckeye Partners will post $3.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, February 25th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $1.0875 per share. This represents a $4.35 annualized dividend and a dividend yield of 5.79%. The ex-dividend date is Thursday, February 13th. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.08.
Buckeye Partners, L.P. (NYSE:BPL) is a master limited partnership.
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