Buckeye Partners (NYSE:BPL) had its price objective decreased by analysts at Barclays from $58.00 to $55.00 in a research note issued to investors on Monday. The firm currently has an “equal weight” rating on the pipeline company’s stock. Barclays’ price objective indicates a potential upside of 7.34% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus dropped their price target on Buckeye Partners from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. UBS Group dropped their price target on Buckeye Partners from $76.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. TheStreet downgraded Buckeye Partners from a “b-” rating to a “c+” rating in a research report on Wednesday, October 25th. Royal Bank of Canada reissued a “hold” rating and set a $67.00 price target on shares of Buckeye Partners in a research report on Monday, October 16th. Finally, Mizuho reissued a “hold” rating and set a $60.00 price target on shares of Buckeye Partners in a research report on Sunday, November 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Buckeye Partners has a consensus rating of “Hold” and a consensus price target of $63.36.
Shares of Buckeye Partners (NYSE:BPL) traded up $1.29 during trading on Monday, reaching $51.24. The company’s stock had a trading volume of 421,203 shares, compared to its average volume of 810,335. Buckeye Partners has a 12 month low of $43.90 and a 12 month high of $73.01. The company has a quick ratio of 0.64, a current ratio of 1.10 and a debt-to-equity ratio of 0.93. The company has a market cap of $7,326.54, a P/E ratio of 15.39 and a beta of 1.03.
In related news, SVP Joseph Sauger sold 5,481 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $47.04, for a total transaction of $257,826.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Narwhal Capital Management boosted its position in Buckeye Partners by 51.7% during the third quarter. Narwhal Capital Management now owns 16,750 shares of the pipeline company’s stock valued at $955,000 after purchasing an additional 5,710 shares in the last quarter. Alliancebernstein L.P. raised its stake in Buckeye Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 33,970 shares of the pipeline company’s stock valued at $2,172,000 after buying an additional 1,902 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Buckeye Partners by 135.2% in the second quarter. Ameriprise Financial Inc. now owns 32,699 shares of the pipeline company’s stock valued at $2,090,000 after buying an additional 18,797 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Buckeye Partners in the second quarter valued at about $254,000. Finally, Cadence Capital Management LLC purchased a new stake in Buckeye Partners in the third quarter valued at about $8,417,000. 70.52% of the stock is currently owned by 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.
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