Buckeye Partners, L.P. (NYSE:BPL) – Analysts at US Capital Advisors dropped their FY2019 earnings estimates for Buckeye Partners in a research report issued on Tuesday, October 15th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings per share of $2.39 for the year, down from their previous estimate of $2.44. US Capital Advisors also issued estimates for Buckeye Partners’ Q4 2019 earnings at $0.69 EPS and Q3 2020 earnings at $0.65 EPS.
Buckeye Partners (NYSE:BPL) last released its earnings results on Thursday, August 1st. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. Buckeye Partners had a negative net margin of 2.43% and a positive return on equity of 9.82%. The business had revenue of $791.70 million for the quarter, compared to analysts’ expectations of $1.01 billion.
Several other research firms have also recently issued reports on BPL. Argus reissued a “sell” rating on shares of Buckeye Partners in a research report on Monday, August 12th. ValuEngine cut shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.44.
BPL opened at $41.40 on Friday. The company’s 50 day simple moving average is $41.18 and its 200 day simple moving average is $39.71. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.64 and a current ratio of 0.91. Buckeye Partners has a 1 year low of $25.71 and a 1 year high of $42.65. The stock has a market capitalization of $6.37 billion, a PE ratio of 23.13 and a beta of 0.70.
Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Buckeye Partners during the second quarter valued at approximately $36,000. North Star Investment Management Corp. purchased a new stake in shares of Buckeye Partners during the third quarter valued at approximately $63,000. HM Payson & Co. purchased a new stake in shares of Buckeye Partners during the second quarter valued at approximately $90,000. Coastal Investment Advisors Inc. raised its stake in shares of Buckeye Partners by 74.8% during the second quarter. Coastal Investment Advisors Inc. now owns 3,919 shares of the pipeline company’s stock valued at $160,000 after purchasing an additional 1,677 shares during the period. Finally, Kavar Capital Partners LLC purchased a new stake in shares of Buckeye Partners during the second quarter valued at approximately $205,000. Institutional investors own 77.40% of the company’s stock.
In other news, CFO Clair Keith St sold 5,000 shares of Buckeye Partners stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $41.17, for a total transaction of $205,850.00. Following the sale, the chief financial officer now owns 134,715 shares in the company, valued at $5,546,216.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph A. Lasala, Jr. sold 4,000 shares of Buckeye Partners stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $41.00, for a total transaction of $164,000.00. Following the sale, the director now owns 10,000 shares in the company, valued at approximately $410,000. The disclosure for this sale can be found here. Insiders sold 11,000 shares of company stock worth $452,090 in the last 90 days. 0.54% of the stock is currently owned by insiders.
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.
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