Cetera Investment Advisers bought a new position in Buckeye Partners L.P. (NYSE:BPL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,737 shares of the pipeline company’s stock, valued at approximately $498,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nordea Investment Management AB bought a new stake in shares of Buckeye Partners L.P. during the second quarter valued at approximately $54,426,000. Tortoise Capital Advisors L.L.C. raised its holdings in shares of Buckeye Partners L.P. by 4.8% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,633,690 shares of the pipeline company’s stock valued at $679,812,000 after buying an additional 482,248 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Buckeye Partners L.P. by 35.8% during the second quarter. Bank of Montreal Can now owns 1,636,442 shares of the pipeline company’s stock valued at $104,618,000 after buying an additional 431,040 shares during the last quarter. Alps Advisors Inc. raised its holdings in shares of Buckeye Partners L.P. by 3.6% during the second quarter. Alps Advisors Inc. now owns 10,257,328 shares of the pipeline company’s stock valued at $655,751,000 after buying an additional 352,443 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in shares of Buckeye Partners L.P. during the second quarter valued at approximately $15,151,000. 69.37% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Buckeye Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub cut Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. UBS AG decreased their price target on shares of Buckeye Partners L.P. from $76.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. TheStreet lowered shares of Buckeye Partners L.P. from a “b-” rating to a “c+” rating in a research report on Wednesday. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $67.00 price target on shares of Buckeye Partners L.P. in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Buckeye Partners L.P. currently has a consensus rating of “Hold” and a consensus price target of $69.50.
In related news, Director Barbara J. Duganier bought 1,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $58.19 per share, for a total transaction of $58,190.00. Following the purchase, the director now owns 9,000 shares in the company, valued at approximately $523,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.42% of the company’s stock.
Buckeye Partners L.P. (NYSE:BPL) traded up 0.98% on Friday, reaching $52.55. 671,062 shares of the company’s stock were exchanged. The firm has a market cap of $7.42 billion, a PE ratio of 14.53 and a beta of 1.16. The firm’s 50-day moving average is $56.06 and its 200-day moving average is $61.48. Buckeye Partners L.P. has a 12 month low of $50.14 and a 12 month high of $73.01.
Buckeye Partners L.P. (NYSE:BPL) last posted its earnings results on Friday, August 4th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.20). The company had revenue of $810.20 million for the quarter, compared to analyst estimates of $797.47 million. Buckeye Partners L.P. had a return on equity of 11.04% and a net margin of 14.42%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.07 EPS. On average, equities analysts forecast that Buckeye Partners L.P. will post $3.56 earnings per share for the current year.
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About Buckeye Partners L.P.
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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