BPL has been the topic of several other reports. Zacks Investment Research cut shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Barclays upgraded shares of Buckeye Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $35.00 to $38.00 in a research report on Wednesday, January 16th. UBS Group cut shares of Buckeye Partners from a “buy” rating to a “neutral” rating and set a $33.25 price objective on the stock. in a research report on Friday, March 8th. Goldman Sachs Group cut shares of Buckeye Partners from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $34.00 to $30.00 in a research report on Wednesday, January 2nd. Finally, Mizuho initiated coverage on Buckeye Partners in a research note on Monday, March 11th. They issued a “neutral” rating and a $36.00 target price for the company. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $39.79.
Shares of BPL opened at $40.98 on Wednesday. Buckeye Partners has a twelve month low of $25.71 and a twelve month high of $42.65. The stock has a market cap of $6.43 billion, a PE ratio of 22.89 and a beta of 1.09. The company has a current ratio of 0.92, a quick ratio of 0.28 and a debt-to-equity ratio of 0.90.
In other news, VP Gary L. Bohnsack sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $41.73, for a total transaction of $104,325.00. Following the completion of the sale, the vice president now owns 422 shares of the company’s stock, valued at $17,610.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cypress Wealth Advisors LLC bought a new position in Buckeye Partners in the first quarter worth $1,741,000. Jane Street Group LLC increased its holdings in shares of Buckeye Partners by 6.8% during the first quarter. Jane Street Group LLC now owns 45,499 shares of the pipeline company’s stock valued at $1,548,000 after acquiring an additional 2,916 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Buckeye Partners by 25.7% during the first quarter. HighTower Advisors LLC now owns 70,682 shares of the pipeline company’s stock valued at $2,404,000 after acquiring an additional 14,463 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Buckeye Partners during the first quarter valued at $13,608,000. Finally, Coastal Investment Advisors Inc. bought a new position in shares of Buckeye Partners during the first quarter valued at $76,000. Institutional investors and hedge funds own 69.33% of the company’s stock.
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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