Buckeye Partners (NYSE:BPL) – Equities researchers at SunTrust Banks issued their FY2018 EPS estimates for Buckeye Partners in a research report issued on Wednesday. SunTrust Banks analyst T. Richardson expects that the pipeline company will post earnings of $3.13 per share for the year. SunTrust Banks currently has a “Hold” rating and a $48.00 price target on the stock.
A number of other equities analysts also recently issued reports on BPL. Zacks Investment Research upgraded Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $50.00 price target (down previously from $56.00) on shares of Buckeye Partners in a research report on Tuesday, March 13th. Bank of America lowered their price target on Buckeye Partners from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 6th. UBS reiterated a “buy” rating and set a $55.00 price target (down previously from $64.00) on shares of Buckeye Partners in a research report on Friday, March 2nd. Finally, Barclays lowered their price target on Buckeye Partners from $58.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $58.83.
Buckeye Partners stock opened at $43.07 on Monday. The stock has a market capitalization of $6,328.36, a P/E ratio of 12.90 and a beta of 1.14. The company has a current ratio of 0.96, a quick ratio of 0.52 and a debt-to-equity ratio of 0.96. Buckeye Partners has a 1 year low of $39.29 and a 1 year high of $69.95.
Buckeye Partners (NYSE:BPL) last issued 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). The business had revenue of $946.05 million for the quarter, compared to analysts’ expectations of $905.02 million. Buckeye Partners had a return on equity of 10.02% and a net margin of 13.13%. The business’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 company posted $0.78 EPS.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aevitas Wealth Management Inc. acquired a new stake in shares of Buckeye Partners in the fourth quarter valued at approximately $102,000. BNP Paribas Arbitrage SA increased its holdings in shares of Buckeye Partners by 315.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock valued at $118,000 after purchasing an additional 1,575 shares during the last quarter. IFG Advisory LLC acquired a new stake in shares of Buckeye Partners in the fourth quarter valued at approximately $810,000. Captrust Financial Advisors acquired a new stake in shares of Buckeye Partners in the fourth quarter valued at approximately $160,000. Finally, Strategic Capital Advisers Inc. acquired a new stake in shares of Buckeye Partners in the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 70.52% of the company’s stock.
In other news, Director Pieter Bakker sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $46.05, for a total value of $92,100.00. Following the transaction, the director now owns 19,552 shares in the company, valued at $900,369.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Sauger sold 11,013 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $43.92, for a total value of $483,690.96. Following the completion of the transaction, the senior vice president now owns 27,416 shares in the company, valued at approximately $1,204,110.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,361 shares of company stock worth $592,488. Company insiders own 0.42% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 20th were given a $1.2625 dividend. This represents a $5.05 annualized dividend and a dividend yield of 11.73%. The ex-dividend date was Friday, February 16th. This is an increase from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio (DPR) is 151.20%.
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Buckeye Partners Company Profile
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; refined petroleum products; and crude oil.
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