Buckeye Partners, L.P. (NYSE:BPL)’s share price was down 0% on Friday . The stock traded as low as $40.73 and last traded at $40.74. Approximately 56,690 shares changed hands during trading, a decline of 98% from the average daily volume of 2,396,875 shares. The stock had previously closed at $40.75.
Several brokerages recently commented on BPL. ValuEngine raised shares of Buckeye Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. UBS Group lowered shares of Buckeye Partners from a “buy” rating to a “neutral” rating and set a $33.25 price target for the company. in a report on Friday, March 8th. Barclays reissued a “buy” rating and issued a $38.00 price target on shares of Buckeye Partners in a report on Tuesday, February 19th. Mizuho began coverage on shares of Buckeye Partners in a report on Monday, March 11th. They issued a “neutral” rating and a $36.00 price target for the company. Finally, Argus lowered shares of Buckeye Partners from a “hold” rating to a “sell” rating and set a $41.80 price target for the company. in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $39.84.
The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.63 and a current ratio of 0.92. The company has a market capitalization of $6.27 billion, a PE ratio of 22.76 and a beta of 0.74.
Buckeye Partners (NYSE:BPL) last announced its earnings results on Friday, May 10th. The pipeline company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.07). Buckeye Partners had a positive return on equity of 9.46% and a negative net margin of 2.29%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. On average, research analysts predict that Buckeye Partners, L.P. will post 2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $3.00 annualized dividend and a yield of 7.37%. Buckeye Partners’s dividend payout ratio (DPR) is presently 167.60%.
In other news, VP Gary L. Bohnsack sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.73, for a total transaction of $104,325.00. Following the transaction, the vice president now owns 422 shares of the company’s stock, valued at approximately $17,610.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Todd J. Russo sold 8,740 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $40.96, for a total transaction of $357,990.40. Following the transaction, the senior vice president now directly owns 5,092 shares in the company, valued at approximately $208,568.32. The disclosure for this sale can be found here. Insiders own 0.54% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Harvest Group Wealth Management LLC acquired a new position in shares of Buckeye Partners during the 1st quarter valued at about $28,000. Ellevest Inc. purchased a new stake in Buckeye Partners in the 1st quarter valued at about $31,000. Legacy Advisors LLC purchased a new stake in Buckeye Partners in the 1st quarter valued at about $34,000. Capital Investment Advisory Services LLC purchased a new stake in Buckeye Partners in the 4th quarter valued at about $36,000. Finally, FMR LLC raised its holdings in Buckeye Partners by 150,500.0% in the 4th quarter. FMR LLC now owns 1,506 shares of the pipeline company’s stock valued at $43,000 after buying an additional 1,505 shares during the period. 71.84% of the stock is currently owned by hedge funds and other institutional investors.
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About Buckeye Partners (NYSE:BPL)
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.
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