Buckeye Partners (BPL) Given a $56.00 Price Target by Stifel Nicolaus Analysts

Buckeye Partners (NYSE:BPL) received a $56.00 target price from equities research analysts at Stifel Nicolaus in a note issued to investors on Sunday. The firm presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ target price points to a potential upside of 12.11% from the company’s previous close.

A number of other brokerages have also weighed in on BPL. Barclays lifted their target price on Buckeye Partners from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Royal Bank of Canada reaffirmed a “hold” rating and set a $67.00 target price on shares of Buckeye Partners in a research report on Monday, October 16th. UBS Group decreased their target price on Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Zacks Investment Research raised Buckeye Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. Finally, Credit Suisse Group assumed coverage on Buckeye Partners in a research report on Thursday, January 4th. They issued an “underperform” rating for the company. Two equities research 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’s stock. The stock has an average rating of “Hold” and an average target price of $63.64.

Buckeye Partners (BPL) traded down $0.31 on Friday, reaching $49.95. The company had a trading volume of 1,604,480 shares, compared to its average volume of 743,838. Buckeye Partners has a one year low of $43.90 and a one year high of $73.01. The company has a current ratio of 1.10, a quick ratio of 0.64 and a debt-to-equity ratio of 0.93. The stock has a market cap of $7,326.57, a PE ratio of 14.96 and a beta of 1.03.

Buckeye Partners (NYSE:BPL) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.03). The firm had revenue of $946.05 million for the quarter, compared to the consensus estimate of $905.02 million. Buckeye Partners had a net margin of 12.69% and a return on equity of 9.72%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. sell-side analysts anticipate that Buckeye Partners will post 3.54 EPS for the current fiscal year.

In other news, SVP Joseph Sauger sold 5,481 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $47.04, for a total value of $257,826.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its position in shares of Buckeye Partners by 7.4% in the 2nd quarter. Advisory Services Network LLC now owns 2,900 shares of the pipeline company’s stock worth $185,000 after acquiring an additional 200 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Buckeye Partners by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,339 shares of the pipeline company’s stock worth $277,000 after buying an additional 332 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Buckeye Partners by 1.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 51,119 shares of the pipeline company’s stock worth $3,268,000 after buying an additional 497 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in Buckeye Partners by 25.0% during the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 5,000 shares of the pipeline company’s stock worth $285,000 after buying an additional 1,000 shares during the last quarter. Finally, Albert D Mason Inc. grew its stake in Buckeye Partners by 4.0% during the 4th quarter. Albert D Mason Inc. now owns 31,933 shares of the pipeline company’s stock worth $1,582,000 after buying an additional 1,240 shares during the last quarter. 70.24% of the stock is owned by hedge funds and other institutional investors.

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Buckeye Partners 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.

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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