HAP Trading LLC Decreases Position in Buckeye Partners L.P. (BPL)
HAP Trading LLC trimmed its position in Buckeye Partners L.P. (NYSE:BPL) by 76.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,195 shares of the pipeline company’s stock after selling 50,099 shares during the period. HAP Trading LLC’s holdings in Buckeye Partners L.P. were worth $866,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Hudock Capital Group LLC grew its stake in Buckeye Partners L.P. by 1,564.7% in the third quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock worth $110,000 after purchasing an additional 1,815 shares in the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new position in Buckeye Partners L.P. in the third quarter worth about $114,000. Ffcm LLC grew its stake in Buckeye Partners L.P. by 221.3% in the second quarter. Ffcm LLC now owns 1,764 shares of the pipeline company’s stock worth $115,000 after purchasing an additional 1,215 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Buckeye Partners L.P. by 315.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock worth $118,000 after purchasing an additional 1,575 shares in the last quarter. Finally, Pathstone Family Office LLC acquired a new position in Buckeye Partners L.P. in the second quarter worth about $142,000. Institutional investors and hedge funds own 68.03% of the company’s stock.
Buckeye Partners L.P. (NYSE BPL) traded down $0.28 on Friday, hitting $47.30. The stock had a trading volume of 1,130,400 shares, compared to its average volume of 571,478. The company has a market capitalization of $6,690.00, a PE ratio of 14.55 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.64 and a current ratio of 1.10. Buckeye Partners L.P. has a 52 week low of $46.94 and a 52 week high of $73.01.
Buckeye Partners L.P. (NYSE:BPL) last released its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.05). The business had revenue of $922.60 million for the quarter, compared to the consensus estimate of $795.12 million. Buckeye Partners L.P. had a net margin of 12.69% and a return on equity of 9.72%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the firm posted $1.19 EPS. equities analysts forecast that Buckeye Partners L.P. will post 3.4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 13th will be issued a dividend of $1.2625 per share. This represents a $5.05 dividend on an annualized basis and a dividend yield of 10.68%. The ex-dividend date of this dividend is Friday, November 10th. This is a boost from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. Buckeye Partners L.P.’s payout ratio is 154.91%.
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A number of equities analysts recently commented on the company. Barclays PLC decreased their price target on Buckeye Partners L.P. from $64.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, November 6th. Zacks Investment Research raised shares of Buckeye Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Monday, September 18th. SunTrust Banks, Inc. set a $58.00 target price on shares of Buckeye Partners L.P. and gave the stock a “hold” rating in a report on Tuesday. Royal Bank Of Canada cut their target price on shares of Buckeye Partners L.P. from $67.00 to $56.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. Finally, Mizuho reissued a “hold” rating and issued a $60.00 target price on shares of Buckeye Partners L.P. in a report on Sunday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Buckeye Partners L.P. presently has a consensus rating of “Hold” and a consensus price target of $65.33.
Buckeye Partners L.P. Company Profile
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.
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