Buckeye Partners, L.P. Receives Buy Rating from Argus (BPL)
Buckeye Partners, L.P. (NYSE:BPL)‘s stock had its “buy” rating restated by equities researchers at Argus in a research report issued on Tuesday. They currently have a $83.00 target price on the stock, up from their previous target price of $82.00. Argus’ price target points to a potential upside of 5.06% from the company’s current price.
Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Buckeye Partners, L.P. in a research note on Wednesday, June 4th. They now have a $82.00 price target on the stock, up previously from $79.00. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $80.00.
Buckeye Partners, L.P. (NYSE:BPL) traded down 0.47% on Tuesday, hitting $78.6295. The stock had a trading volume of 15,115 shares. Buckeye Partners, L.P. has a one year low of $62.00 and a one year high of $84.91. The stock’s 50-day moving average is $79.66 and its 200-day moving average is $77.55. The company has a market cap of $9.140 billion and a P/E ratio of 82.72.
Buckeye Partners, L.P. (NYSE:BPL) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.84 by $0.31. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted $0.72 earnings per share. Buckeye Partners, L.P.’s revenue was up 82.1% compared to the same quarter last year. On average, analysts predict that Buckeye Partners, L.P. will post $3.45 earnings per share for the current fiscal year.
Buckeye Partners, L.P. (NYSE:BPL) is a master limited partnership.
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