Barclays Lowers Buckeye Partners (BPL) Price Target to $55.00

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.

Buckeye Partners (NYSE:BPL) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.03). Buckeye Partners had a return on equity of 10.09% and a net margin of 13.13%. The firm had revenue of $946.05 million for the quarter, compared to the consensus estimate of $905.02 million. During the same period in the previous year, the company posted $0.78 EPS. Buckeye Partners’s quarterly revenue was up 2.4% compared to the same quarter last year. equities analysts anticipate that Buckeye Partners will post 3.54 EPS for the current year.

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.

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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