Several brokerages have updated their recommendations and price targets on shares of Buckeye Partners L.P. (NYSE: BPL) in the last few weeks:

  • 11/14/2017 – Buckeye Partners L.P. was given a new $58.00 price target on by analysts at SunTrust Banks, Inc.. They now have a “hold” rating on the stock.
  • 11/8/2017 – Buckeye Partners L.P. had its price target lowered by analysts at Royal Bank Of Canada from $67.00 to $56.00. They now have a “sector perform” rating on the stock.
  • 11/6/2017 – Buckeye Partners L.P. had its price target lowered by analysts at Barclays PLC from $64.00 to $60.00. They now have an “equal weight” rating on the stock.
  • 11/6/2017 – Buckeye Partners L.P. had its price target lowered by analysts at Stifel Nicolaus from $68.00 to $63.00. They now have a “buy” rating on the stock.
  • 11/5/2017 – Buckeye Partners L.P. had its “hold” rating reaffirmed by analysts at Mizuho. They now have a $60.00 price target on the stock.
  • 11/3/2017 – Buckeye Partners L.P. had its “hold” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $72.00 price target on the stock.
  • 10/29/2017 – Buckeye Partners L.P. had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $68.00 price target on the stock.
  • 10/25/2017 – Buckeye Partners L.P. was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 10/17/2017 – Buckeye Partners L.P. had its price target lowered by analysts at UBS AG from $76.00 to $64.00. They now have a “buy” rating on the stock.
  • 10/16/2017 – Buckeye Partners L.P. had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $67.00 price target on the stock.
  • 10/10/2017 – Buckeye Partners L.P. had its price target lowered by analysts at Wells Fargo & Company from $66.00 to $61.00. They now have a “market perform” rating on the stock.
  • 10/10/2017 – Buckeye Partners L.P. had its price target lowered by analysts at Citigroup Inc. from $77.00 to $72.00. They now have a “buy” rating on the stock.
  • 9/18/2017 – Buckeye Partners L.P. was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Buckeye Partners has an attractive portfolio of refined petroleum-product transportation and storage assets in key geographical markets. Strategic acquisitions and organic growth projects will drive the partnership’s performance in the domestic as well as international arena. The loss in value of Buckeye Partners’ units is wider than the industry’s loss in the last three months.  Intensifying competition and stringent government regulations are persistent headwinds for Buckeye Partners. The partnership depends on its operating subsidiaries to service debt obligations and pay cash distributions to its unitholders. Rising interest and debt expenses are a matter of great concern for the partnership.”

Shares of Buckeye Partners L.P. (NYSE:BPL) traded down $1.26 during trading hours on Wednesday, hitting $48.48. 1,443,100 shares of the stock traded hands, compared to its average volume of 566,944. Buckeye Partners L.P. has a 12 month low of $47.53 and a 12 month high of $73.01. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.64 and a current ratio of 1.10. The firm has a market cap of $7,294.07, a PE ratio of 15.21 and a beta of 1.16.

Buckeye Partners L.P. (NYSE:BPL) last issued its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). Buckeye Partners L.P. had a return on equity of 9.72% and a net margin of 12.69%. The business had revenue of $922.60 million for the quarter, compared to analyst estimates of $795.12 million. During the same quarter in the prior year, the firm earned $1.19 EPS. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. sell-side analysts anticipate that Buckeye Partners L.P. will post 3.4 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 13th will be given a dividend of $1.2625 per share. This is a boost from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, November 10th. This represents a $5.05 annualized dividend and a dividend yield of 10.42%. Buckeye Partners L.P.’s payout ratio is currently 154.43%.

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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