Buckeye Partners L.P. (NYSE:BPL) had its price target decreased by analysts at Barclays PLC from $68.00 to $66.00 in a research note issued on Monday. The brokerage currently has an “equal weight” rating on the pipeline company’s stock. Barclays PLC’s target price would indicate a potential upside of 9.85% from the company’s current price.

BPL has been the subject of several other research reports. Guggenheim began coverage on shares of Buckeye Partners L.P. in a report on Monday, April 17th. They set a “neutral” rating and a $72.00 price target for the company. Stifel Nicolaus upgraded shares of Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Monday, May 15th. Royal Bank Of Canada reiterated a “hold” rating and set a $73.00 price target on shares of Buckeye Partners L.P. in a report on Wednesday, April 19th. Credit Suisse Group set a $74.00 price target on shares of Buckeye Partners L.P. and gave the stock a “hold” rating in a report on Monday. Finally, Zacks Investment Research cut shares of Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $73.36.

Buckeye Partners L.P. (BPL) opened at 60.08 on Monday. Buckeye Partners L.P. has a 1-year low of $59.73 and a 1-year high of $73.98. The company has a market capitalization of $8.44 billion, a P/E ratio of 15.42 and a beta of 1.11. The stock’s 50 day moving average is $63.27 and its 200-day moving average is $66.44.

Buckeye Partners L.P. (NYSE:BPL) last posted its quarterly earnings results on Friday, August 4th. The pipeline company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.00 by $0.20. Buckeye Partners L.P. had a return on equity of 11.04% and a net margin of 14.42%. The firm had revenue of $810.20 million for the quarter, compared to analyst estimates of $797.47 million. During the same quarter last year, the firm earned $1.07 EPS. The company’s revenue was up 4.3% on a year-over-year basis. On average, analysts expect that Buckeye Partners L.P. will post $3.78 earnings per share for the current fiscal year.

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In other news, SVP Todd J. Russo sold 3,280 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $67.00, for a total value of $219,760.00. Following the completion of the transaction, the senior vice president now owns 14,106 shares in the company, valued at approximately $945,102. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.42% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global Endowment Management LP boosted its position in shares of Buckeye Partners L.P. by 2.1% in the first quarter. Global Endowment Management LP now owns 34,490 shares of the pipeline company’s stock valued at $2,365,000 after buying an additional 700 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Buckeye Partners L.P. by 0.4% in the first quarter. Blair William & Co. IL now owns 88,170 shares of the pipeline company’s stock valued at $6,060,000 after buying an additional 358 shares during the last quarter. Bollard Group LLC boosted its position in shares of Buckeye Partners L.P. by 12.4% in the first quarter. Bollard Group LLC now owns 266,852 shares of the pipeline company’s stock valued at $18,295,000 after buying an additional 29,437 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Buckeye Partners L.P. during the first quarter valued at about $117,000. Finally, Investment Centers of America Inc. bought a new position in shares of Buckeye Partners L.P. during the first quarter valued at about $375,000. Institutional investors and hedge funds own 70.68% of the company’s stock.

About Buckeye Partners L.P.

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

Analyst Recommendations for Buckeye Partners L.P. (NYSE:BPL)

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