Buckeye Partners, L.P. (NYSE:BPL) shares fell 1.7% on Thursday . The stock traded as low as $71.89 and last traded at $72.20, with a volume of 141,765 shares. The stock had previously closed at $73.45.

Several research firms recently weighed in on BPL. Stifel Nicolaus lifted their price objective on shares of Buckeye Partners, L.P. from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, May 9th. Zacks Investment Research raised shares of Buckeye Partners, L.P. from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Monday, July 25th. Finally, Barclays PLC lifted their price objective on shares of Buckeye Partners, L.P. from $69.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 12th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $72.78.

The firm’s 50-day moving average price is $71.78 and its 200 day moving average price is $67.95. The company has a market cap of $9.50 billion and a PE ratio of 18.64.

Buckeye Partners, L.P. (NYSE:BPL) last released its quarterly earnings data on Friday, August 5th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.11. During the same period in the prior year, the company earned $0.71 EPS. The firm earned $777.12 million during the quarter, compared to analyst estimates of $759.98 million. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts expect that Buckeye Partners, L.P. will post $4.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Monday, August 15th will be paid a $1.2125 dividend. This is a positive change from Buckeye Partners, L.P.’s previous quarterly dividend of $1.09. This represents a $4.85 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend is Thursday, August 11th.

In other news, CEO Clark C. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $73.02, for a total value of $730,200.00. Following the completion of the transaction, the chief executive officer now owns 69,983 shares of the company’s stock, valued at $5,110,158.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Khalid A. Muslih sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $75.00, for a total value of $562,500.00. Following the completion of the transaction, the senior vice president now directly owns 23,177 shares of the company’s stock, valued at approximately $1,738,275. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP increased its position in Buckeye Partners, L.P. by 7.5% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 5,030,246 shares of the company’s stock valued at $331,779,000 after buying an additional 349,032 shares in the last quarter. Chickasaw Capital Management LLC increased its position in Buckeye Partners, L.P. by 7.3% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,905,914 shares of the company’s stock valued at $125,714,000 after buying an additional 129,293 shares in the last quarter. Jennison Associates LLC increased its position in Buckeye Partners, L.P. by 60.2% in the fourth quarter. Jennison Associates LLC now owns 188,813 shares of the company’s stock valued at $12,454,000 after buying an additional 70,971 shares in the last quarter. Homrich & Berg increased its position in Buckeye Partners, L.P. by 154.2% in the fourth quarter. Homrich & Berg now owns 16,391 shares of the company’s stock valued at $1,081,000 after buying an additional 9,943 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in Buckeye Partners, L.P. by 11.6% in the fourth quarter. Advisors Asset Management Inc. now owns 65,787 shares of the company’s stock valued at $4,339,000 after buying an additional 6,859 shares in the last quarter.

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. The Company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

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