Buckeye Partners L.P. (NYSE:BPL) has been assigned a $58.00 target price by equities research analysts at SunTrust Banks, Inc. in a report released on Tuesday. The firm currently has a “hold” rating on the pipeline company’s stock. SunTrust Banks, Inc.’s price target would indicate a potential upside of 16.61% from the company’s current price.

BPL has been the subject of a number of other reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price target on shares of Buckeye Partners L.P. in a report on Sunday, October 29th. TheStreet lowered Buckeye Partners L.P. from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Barclays PLC lowered their price objective on Buckeye Partners L.P. from $64.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, November 6th. Credit Suisse Group set a $74.00 price objective on Buckeye Partners L.P. and gave the stock a “hold” rating in a research report on Monday, August 7th. Finally, Royal Bank Of Canada lowered their price objective on Buckeye Partners L.P. from $67.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Buckeye Partners L.P. has a consensus rating of “Hold” and a consensus target price of $65.33.

Shares of Buckeye Partners L.P. (NYSE BPL) traded down $0.77 during midday trading on Tuesday, reaching $49.74. The company’s stock had a trading volume of 860,000 shares, compared to its average volume of 562,943. Buckeye Partners L.P. has a 1-year low of $49.39 and a 1-year high of $73.01. The company has a current ratio of 1.10, a quick ratio of 0.64 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $7,406.99, a price-to-earnings ratio of 15.45 and a beta of 1.16.

Buckeye Partners L.P. (NYSE:BPL) last posted its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.05). Buckeye Partners L.P. had a return on equity of 9.72% and a net margin of 12.69%. The company had revenue of $922.60 million during the quarter, compared to the consensus estimate of $795.12 million. During the same period in the previous year, the business earned $1.19 earnings per share. Buckeye Partners L.P.’s revenue was up 20.3% on a year-over-year basis. equities research analysts anticipate that Buckeye Partners L.P. will post 3.4 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC raised its position in Buckeye Partners L.P. by 1.9% during the second quarter. MCF Advisors LLC now owns 2,508 shares of the pipeline company’s stock valued at $160,000 after purchasing an additional 46 shares in the last quarter. Linscomb & Williams Inc. raised its position in Buckeye Partners L.P. by 0.7% during the second quarter. Linscomb & Williams Inc. now owns 12,690 shares of the pipeline company’s stock valued at $811,000 after purchasing an additional 86 shares in the last quarter. Comerica Bank raised its position in Buckeye Partners L.P. by 2.9% during the second quarter. Comerica Bank now owns 4,207 shares of the pipeline company’s stock valued at $267,000 after purchasing an additional 117 shares in the last quarter. Advisory Services Network LLC raised its position in Buckeye Partners L.P. by 7.4% during the second quarter. Advisory Services Network LLC now owns 2,900 shares of the pipeline company’s stock valued at $185,000 after purchasing an additional 200 shares in the last quarter. Finally, Signature Financial Management Inc. raised its position in Buckeye Partners L.P. by 4.9% during the second quarter. Signature Financial Management Inc. now owns 4,775 shares of the pipeline company’s stock valued at $305,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 68.03% 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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