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.
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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