LVW Advisors LLC increased its stake in shares of Buckeye Partners, L.P. (NYSE:BPL) by 110.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,274 shares of the pipeline company’s stock after buying an additional 9,050 shares during the quarter. LVW Advisors LLC’s holdings in Buckeye Partners were worth $617,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in BPL. Poehling Capital Management LLC bought a new stake in Buckeye Partners during the second quarter worth $105,000. Cerebellum GP LLC bought a new stake in Buckeye Partners during the second quarter worth $109,000. Sun Life Financial INC grew its holdings in Buckeye Partners by 2,566.7% during the second quarter. Sun Life Financial INC now owns 4,000 shares of the pipeline company’s stock worth $141,000 after buying an additional 3,850 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Buckeye Partners by 3,747.9% during the second quarter. Advisors Asset Management Inc. now owns 167,229 shares of the pipeline company’s stock worth $142,000 after buying an additional 162,883 shares in the last quarter. Finally, First Hawaiian Bank bought a new stake in Buckeye Partners during the third quarter worth $143,000. Institutional investors and hedge funds own 68.87% of the company’s stock.
BPL stock opened at $33.00 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.70 and a current ratio of 1.01. Buckeye Partners, L.P. has a 1-year low of $31.41 and a 1-year high of $57.19. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 9.94 and a beta of 1.25.
Buckeye Partners (NYSE:BPL) last posted its quarterly earnings data on Friday, November 2nd. The pipeline company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.11). Buckeye Partners had a positive return on equity of 8.50% and a negative net margin of 10.43%. The business had revenue of $909.55 million during the quarter, compared to analysts’ expectations of $921.74 million. During the same period in the prior year, the firm posted $0.81 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts predict that Buckeye Partners, L.P. will post 2.83 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 13th will be given a $0.75 dividend. The ex-dividend date is Friday, November 9th. This represents a $3.00 annualized dividend and a yield of 9.09%. Buckeye Partners’s dividend payout ratio is currently 152.11%.
Several equities research analysts recently issued reports on BPL shares. Bank of America decreased their price target on Buckeye Partners from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, July 24th. Stifel Nicolaus reiterated a “buy” rating and set a $37.00 price target on shares of Buckeye Partners in a report on Sunday. Zacks Investment Research upgraded Buckeye Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. JPMorgan Chase & Co. decreased their price target on Buckeye Partners from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, August 24th. Finally, SunTrust Banks downgraded Buckeye Partners from a “hold” rating to a “sell” rating and set a $72.00 price target for the company. in a report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.38.
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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