Buckeye Partners, L.P.’s Neutral Rating Reaffirmed at JPMorgan Chase & Co. (BPL)
Buckeye Partners, L.P. (NYSE:BPL)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a report released on Wednesday. They currently have a $82.00 price target on the stock, up from their previous price target of $79.00. JPMorgan Chase & Co.’s target price suggests a potential upside of 5.01% from the company’s current price.
Shares of Buckeye Partners, L.P. (NYSE:BPL) traded up 0.02% during mid-day trading on Wednesday, hitting $78.1095. The stock had a trading volume of 39,070 shares. Buckeye Partners, L.P. has a 52-week low of $62.00 and a 52-week high of $81.15. The stock has a 50-day moving average of $77.71 and a 200-day moving average of $73.1. The company has a market cap of $9.057 billion and a price-to-earnings ratio of 53.23.
Buckeye Partners, L.P. (NYSE:BPL) last released its earnings data on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.93 by $0.15. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 49.6% on a year-over-year basis. Analysts expect that Buckeye Partners, L.P. will post $3.70 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Buckeye Partners, L.P. in a research note on Tuesday, May 6th. They now have a $83.00 price target on the stock. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Buckeye Partners, L.P. in a research note on Tuesday, May 6th. They now have a $78.00 price target on the stock, up previously from $76.00. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Buckeye Partners, L.P. in a research note on Monday, May 5th. They now have a $85.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.00.
Buckeye Partners, L.P. (NYSE:BPL) is a master limited partnership.
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