Buckeye Partners L.P.’s (BPL) “Buy” Rating Reaffirmed at Stifel Nicolaus
Buckeye Partners L.P. (NYSE:BPL)‘s stock had its “buy” rating restated by research analysts at Stifel Nicolaus in a report released on Sunday. They currently have a $69.00 target price on the pipeline company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 23.63% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Barclays PLC lowered their price target on Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, August 7th. Credit Suisse Group set a $74.00 price target on Buckeye Partners L.P. and gave the stock a “hold” rating in a research report on Monday, August 7th. Zacks Investment Research lowered Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub raised Buckeye Partners L.P. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $72.91.
Shares of Buckeye Partners L.P. (NYSE BPL) opened at 55.81 on Friday. The stock has a 50 day moving average of $58.85 and a 200 day moving average of $64.32. Buckeye Partners L.P. has a 1-year low of $54.33 and a 1-year high of $73.01. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 15.43 and a beta of 1.14.
Buckeye Partners L.P. (NYSE:BPL) last posted its quarterly earnings results on Friday, August 4th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.20. The company had revenue of $810.20 million during the quarter, compared to analysts’ expectations of $797.47 million. Buckeye Partners L.P. had a return on equity of 11.04% and a net margin of 14.42%. Buckeye Partners L.P.’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. On average, equities analysts forecast that Buckeye Partners L.P. will post $3.56 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Buckeye Partners L.P.’s (BPL) “Buy” Rating Reaffirmed at Stifel Nicolaus” was posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. & international trademark & copyright law. The original version of this news story can be read at https://www.americanbankingnews.com/2017/09/10/buckeye-partners-l-p-s-bpl-buy-rating-reaffirmed-at-stifel-nicolaus.html.
In other Buckeye Partners L.P. news, Director Barbara J. Duganier acquired 1,000 shares of Buckeye Partners L.P. stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $58.19 per share, for a total transaction of $58,190.00. Following the acquisition, the director now owns 9,000 shares of the company’s stock, valued at $523,710. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. increased its holdings in Buckeye Partners L.P. by 4.8% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 10,633,690 shares of the pipeline company’s stock worth $679,812,000 after buying an additional 482,248 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Buckeye Partners L.P. by 3.6% during the 2nd quarter. Alps Advisors Inc. now owns 10,257,328 shares of the pipeline company’s stock valued at $655,751,000 after purchasing an additional 352,443 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Buckeye Partners L.P. by 2.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,146,972 shares of the pipeline company’s stock valued at $329,046,000 after purchasing an additional 113,242 shares during the period. Clearbridge Investments LLC grew its stake in shares of Buckeye Partners L.P. by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 5,007,043 shares of the pipeline company’s stock valued at $343,283,000 after purchasing an additional 55,420 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Buckeye Partners L.P. by 6.6% during the 1st quarter. Bank of America Corp DE now owns 3,471,008 shares of the pipeline company’s stock valued at $237,973,000 after purchasing an additional 213,555 shares during the period. Institutional investors own 68.87% of the company’s stock.
About Buckeye Partners L.P.
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.
Receive News & Ratings for Buckeye Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.