SG Americas Securities LLC Lowers Position in Buckeye Partners, L.P. (NYSE:BPL)

SG Americas Securities LLC lessened its stake in shares of Buckeye Partners, L.P. (NYSE:BPL) by 19.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,158 shares of the pipeline company’s stock after selling 51,404 shares during the period. SG Americas Securities LLC owned approximately 0.14% of Buckeye Partners worth $8,676,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Invesco Ltd. increased its holdings in shares of Buckeye Partners by 94,399.3% in the 2nd quarter. Invesco Ltd. now owns 14,415,873 shares of the pipeline company’s stock worth $591,772,000 after purchasing an additional 14,400,618 shares in the last quarter. UBS Group AG increased its holdings in shares of Buckeye Partners by 44.5% in the 2nd quarter. UBS Group AG now owns 7,126,305 shares of the pipeline company’s stock worth $292,535,000 after purchasing an additional 2,193,475 shares in the last quarter. Morgan Stanley increased its holdings in shares of Buckeye Partners by 706.6% in the 2nd quarter. Morgan Stanley now owns 5,839,590 shares of the pipeline company’s stock worth $239,716,000 after purchasing an additional 5,115,615 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Buckeye Partners by 6.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,215,262 shares of the pipeline company’s stock worth $172,488,000 after purchasing an additional 272,910 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Buckeye Partners by 229.7% in the 2nd quarter. Bank of America Corp DE now owns 4,191,687 shares of the pipeline company’s stock worth $172,068,000 after purchasing an additional 2,920,449 shares in the last quarter. 77.51% of the stock is owned by institutional investors.

Shares of BPL remained flat at $$41.46 during trading hours on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.64 and a current ratio of 0.91. Buckeye Partners, L.P. has a twelve month low of $25.71 and a twelve month high of $42.65. The company has a market capitalization of $6.38 billion, a PE ratio of 23.16 and a beta of 0.70. The stock has a 50 day moving average of $41.33 and a 200-day moving average of $40.50.

In related news, Director Joseph A. Lasala, Jr. sold 4,000 shares of Buckeye Partners stock in a transaction on Monday, August 19th. The stock was sold at an average price of $41.00, for a total value of $164,000.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $410,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Todd J. Russo sold 2,000 shares of Buckeye Partners stock in a transaction on Friday, August 30th. The stock was sold at an average price of $41.12, for a total value of $82,240.00. Following the completion of the sale, the senior vice president now directly owns 3,092 shares of the company’s stock, valued at approximately $127,143.04. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock valued at $452,090 in the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

A number of research firms have commented on BPL. ValuEngine lowered Buckeye Partners from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Argus reaffirmed a “sell” rating on shares of Buckeye Partners in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.23.

About Buckeye Partners

Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates.

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Institutional Ownership by Quarter for Buckeye Partners (NYSE:BPL)

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