Buckeye Partners (BPL) Research Coverage Started at Deutsche Bank

Deutsche Bank started coverage on shares of Buckeye Partners (NYSE:BPL) in a research report report published on Thursday morning. The firm issued a hold rating and a $44.00 price objective on the pipeline company’s stock.

BPL has been the topic of a number of other reports. Barclays raised their target price on shares of Buckeye Partners from $56.00 to $58.00 and gave the stock an equal weight rating in a research report on Friday, January 26th. Zacks Investment Research upgraded shares of Buckeye Partners from a strong sell rating to a hold rating in a research report on Wednesday, April 11th. UBS restated a buy rating and set a $55.00 target price (down from $64.00) on shares of Buckeye Partners in a research report on Friday, March 2nd. SunTrust Banks set a $48.00 target price on shares of Buckeye Partners and gave the stock a hold rating in a research report on Thursday, March 15th. Finally, Bank of America began coverage on shares of Buckeye Partners in a research report on Tuesday, January 9th. They set a neutral rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $52.54.

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Shares of BPL opened at $40.11 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.52 and a current ratio of 0.96. The company has a market cap of $5,893.44, a PE ratio of 12.08 and a beta of 1.20. Buckeye Partners has a 12-month low of $35.24 and a 12-month high of $69.95.

Buckeye Partners (NYSE:BPL) last announced its 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 was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. analysts anticipate that Buckeye Partners will post 3.09 earnings per share for the current year.

In related news, SVP Joseph Sauger sold 11,013 shares of Buckeye Partners stock in a transaction 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 transaction, the senior vice president now directly owns 27,416 shares in the company, valued at approximately $1,204,110.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark C. Mckinley acquired 1,000 shares of the stock in a transaction that occurred on Friday, March 23rd. The stock was purchased at an average price of $38.46 per share, for a total transaction of $38,460.00. Following the completion of the transaction, the director now owns 26,000 shares in the company, valued at $999,960. The disclosure for this purchase can be found here. Company insiders own 0.42% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Aevitas Wealth Management Inc. purchased a new position in Buckeye Partners in the 4th quarter valued at $102,000. Captrust Financial Advisors purchased a new position in Buckeye Partners in the 4th quarter valued at $160,000. Strategic Capital Advisers Inc. purchased a new stake in shares of Buckeye Partners during the 4th quarter worth $207,000. Haverford Trust Co. purchased a new stake in shares of Buckeye Partners during the 4th quarter worth $209,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of Buckeye Partners during the 4th quarter worth $211,000. Hedge funds and other institutional investors own 70.39% of the company’s stock.

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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; refined petroleum products; and crude oil.

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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