Albert D Mason Inc. boosted its position in Buckeye Partners, L.P. (NYSE:BPL) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,933 shares of the pipeline company’s stock after purchasing an additional 1,240 shares during the period. Buckeye Partners comprises 1.2% of Albert D Mason Inc.’s investment portfolio, making the stock its 28th biggest position. Albert D Mason Inc.’s holdings in Buckeye Partners were worth $1,582,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hudock Capital Group LLC increased its position in Buckeye Partners by 1,564.7% during the third quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock worth $110,000 after buying an additional 1,815 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new position in Buckeye Partners during the third quarter worth $114,000. BNP Paribas Arbitrage SA increased its position in Buckeye Partners by 315.0% during the third quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock worth $118,000 after buying an additional 1,575 shares in the last quarter. Advisory Services Network LLC increased its position in Buckeye Partners by 7.4% during the second quarter. Advisory Services Network LLC now owns 2,900 shares of the pipeline company’s stock worth $185,000 after buying an additional 200 shares in the last quarter. Finally, Smith Moore & CO. purchased a new position in Buckeye Partners during the third quarter worth $211,000. 70.52% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Joseph Sauger sold 5,481 shares of Buckeye Partners 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 document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by insiders.
Several research firms have recently issued reports on BPL. TheStreet cut Buckeye Partners from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Stifel Nicolaus restated a “buy” rating and set a $68.00 price objective on shares of Buckeye Partners in a report on Sunday, October 29th. Mizuho restated a “hold” rating and set a $60.00 price objective on shares of Buckeye Partners in a report on Sunday, November 5th. Royal Bank of Canada decreased their price objective on Buckeye Partners from $67.00 to $56.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. Finally, SunTrust Banks restated a “hold” rating and set a $72.00 price objective on shares of Buckeye Partners in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.30.
Buckeye Partners, L.P. (NYSE:BPL) opened at $51.11 on Wednesday. The firm has a market capitalization of $7,499.62, a price-to-earnings ratio of 15.30 and a beta of 1.03. Buckeye Partners, L.P. has a fifty-two week low of $43.90 and a fifty-two week high of $73.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.10 and a quick ratio of 0.64.
Buckeye Partners (NYSE:BPL) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.03). The company had revenue of $946.05 million for the quarter, compared to analyst estimates of $905.02 million. Buckeye Partners had a return on equity of 10.09% and a net margin of 13.13%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. equities analysts forecast that Buckeye Partners, L.P. will post 3.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 20th will be given a dividend of $1.2625 per share. This represents a $5.05 dividend on an annualized basis and a dividend yield of 9.88%. This is a positive change from Buckeye Partners’s previous quarterly dividend of $1.24. The ex-dividend date is Friday, February 16th. Buckeye Partners’s payout ratio is presently 151.20%.
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About Buckeye Partners
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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