Q2 2017 EPS Estimates for Buckeye Partners L.P. Decreased by Analyst (BPL)
Buckeye Partners L.P. (NYSE:BPL) – Equities research analysts at US Capital Advisors reduced their Q2 2017 earnings per share (EPS) estimates for Buckeye Partners L.P. in a report issued on Monday. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $0.99 per share for the quarter, down from their prior forecast of $1.02. US Capital Advisors also issued estimates for Buckeye Partners L.P.’s Q3 2017 earnings at $1.00 EPS, Q4 2017 earnings at $0.98 EPS, FY2017 earnings at $3.84 EPS, Q1 2018 earnings at $0.91 EPS, Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $0.98 EPS, Q4 2018 earnings at $0.97 EPS and FY2018 earnings at $3.83 EPS.
A number of other equities research analysts also recently weighed in on the company. Guggenheim started coverage on Buckeye Partners L.P. in a research report on Monday, April 17th. They issued a “neutral” rating and a $72.00 target price for the company. Stifel Nicolaus upgraded Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Monday, May 8th. They noted that the move was a valuation call. SunTrust Banks, Inc. started coverage on Buckeye Partners L.P. in a research report on Monday, March 20th. They issued a “hold” rating and a $72.00 target price for the company. Royal Bank Of Canada restated a “hold” rating and issued a $73.00 target price on shares of Buckeye Partners L.P. in a research report on Wednesday, April 19th. Finally, BidaskClub raised Buckeye Partners L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $74.36.
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Buckeye Partners L.P. (NYSE:BPL) opened at 64.91 on Tuesday. The stock has a market capitalization of $9.12 billion, a P/E ratio of 16.66 and a beta of 1.11. Buckeye Partners L.P. has a 1-year low of $59.73 and a 1-year high of $75.10. The company has a 50-day moving average price of $63.88 and a 200 day moving average price of $66.79.
Buckeye Partners L.P. (NYSE:BPL) last issued its earnings results on Friday, May 5th. The pipeline company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by $0.12. The business had revenue of $969.30 million for the quarter, compared to analysts’ expectations of $848.34 million. Buckeye Partners L.P. had a return on equity of 12.03% and a net margin of 15.36%. The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share.
Several hedge funds have recently added to or reduced their stakes in BPL. Valley National Advisers Inc. boosted its stake in Buckeye Partners L.P. by 11.5% in the first quarter. Valley National Advisers Inc. now owns 1,649 shares of the pipeline company’s stock valued at $113,000 after buying an additional 170 shares during the period. Crestwood Advisors Group LLC bought a new stake in Buckeye Partners L.P. during the first quarter valued at approximately $117,000. Hirtle Callaghan & Co LLC bought a new stake in Buckeye Partners L.P. during the first quarter valued at approximately $118,000. Oppenheimer Asset Management Inc. bought a new stake in Buckeye Partners L.P. during the first quarter valued at approximately $128,000. Finally, IHT Wealth Management LLC bought a new stake in Buckeye Partners L.P. during the first quarter valued at approximately $170,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Todd J. Russo sold 3,280 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $67.00, for a total transaction of $219,760.00. Following the sale, the senior vice president now directly owns 14,106 shares of the company’s stock, valued at $945,102. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert A. Malecky sold 6,955 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $69.00, for a total transaction of $479,895.00. Following the sale, the executive vice president now directly owns 80,559 shares in the company, valued at $5,558,571. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
Buckeye Partners L.P. Company Profile
Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.
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