Joseph Sauger Sells 537 Shares of Buckeye Partners, L.P. (BPL) Stock

Buckeye Partners, L.P. (NYSE:BPL) SVP Joseph Sauger sold 537 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $33.04, for a total value of $17,742.48. Following the sale, the senior vice president now directly owns 25,907 shares of the company’s stock, valued at $855,967.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of BPL stock traded down $0.27 on Wednesday, hitting $32.63. 23,548 shares of the stock were exchanged, compared to its average volume of 889,740. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.70 and a current ratio of 1.01. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 9.82 and a beta of 1.25. Buckeye Partners, L.P. has a one year low of $31.41 and a one year high of $57.19.

Buckeye Partners (NYSE:BPL) last posted its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.11). The firm had revenue of $909.55 million for the quarter, compared to the consensus estimate of $921.74 million. Buckeye Partners had a positive return on equity of 8.50% and a negative net margin of 10.43%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS. Equities analysts predict that Buckeye Partners, L.P. will post 2.83 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 13th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, November 9th. This represents a $3.00 annualized dividend and a dividend yield of 9.19%. Buckeye Partners’s payout ratio is 152.11%.

BPL has been the subject of several research analyst reports. Barclays decreased their target price on Buckeye Partners from $43.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Zacks Investment Research raised Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. SunTrust Banks lowered Buckeye Partners from a “hold” rating to a “sell” rating and set a $72.00 target price for the company. in a research report on Monday, July 23rd. Bank of America decreased their target price on Buckeye Partners from $41.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, July 24th. Finally, Citigroup decreased their target price on Buckeye Partners from $39.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $42.38.

Several hedge funds have recently bought and sold shares of BPL. Adams Asset Advisors LLC grew its stake in shares of Buckeye Partners by 4.0% during the 2nd quarter. Adams Asset Advisors LLC now owns 51,534 shares of the pipeline company’s stock worth $1,811,000 after acquiring an additional 2,000 shares during the period. Legacy Advisors LLC grew its stake in shares of Buckeye Partners by 80.8% during the 2nd quarter. Legacy Advisors LLC now owns 11,750 shares of the pipeline company’s stock worth $413,000 after acquiring an additional 5,250 shares during the period. Cornerstone Wealth Management LLC bought a new position in shares of Buckeye Partners during the 2nd quarter worth $680,000. Chickasaw Capital Management LLC grew its stake in shares of Buckeye Partners by 43.2% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,813,968 shares of the pipeline company’s stock worth $204,361,000 after acquiring an additional 1,755,207 shares during the period. Finally, Bessemer Group Inc. grew its stake in shares of Buckeye Partners by 2,013.1% during the 2nd quarter. Bessemer Group Inc. now owns 21,300 shares of the pipeline company’s stock worth $749,000 after acquiring an additional 20,292 shares during the period. Institutional investors own 68.87% 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.

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