Macquarie Group Ltd. Increases Position in Buckeye Partners L.P. (BPL)
Macquarie Group Ltd. increased its position in Buckeye Partners L.P. (NYSE:BPL) by 24.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,800 shares of the pipeline company’s stock after purchasing an additional 22,800 shares during the quarter. Macquarie Group Ltd. owned approximately 0.08% of Buckeye Partners worth $6,601,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Hudock Capital Group LLC grew its position in shares of Buckeye Partners by 1,564.7% during the 3rd quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock worth $110,000 after buying an additional 1,815 shares during the period. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Buckeye Partners during the 3rd quarter worth about $114,000. Ffcm LLC grew its position in shares of Buckeye Partners by 221.3% during the 2nd quarter. Ffcm LLC now owns 1,764 shares of the pipeline company’s stock worth $115,000 after buying an additional 1,215 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Buckeye Partners by 315.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock worth $118,000 after buying an additional 1,575 shares during the period. Finally, Pathstone Family Office LLC acquired a new position in shares of Buckeye Partners during the 2nd quarter worth about $142,000. Hedge funds and other institutional investors own 69.91% of the company’s stock.
BPL has been the topic of several recent analyst reports. Barclays cut their price objective on Buckeye Partners from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, August 7th. Credit Suisse Group set a $74.00 price objective on Buckeye Partners and gave the company a “hold” rating in a report on Monday, August 7th. SunTrust Banks set a $58.00 price objective on Buckeye Partners and gave the company a “hold” rating in a report on Tuesday, November 14th. Citigroup cut their price objective on Buckeye Partners from $77.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded Buckeye Partners from a “strong sell” rating to a “hold” rating in a report on Monday, September 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $65.33.
Buckeye Partners L.P. (NYSE BPL) traded up $1.34 during midday trading on Friday, reaching $45.93. The company’s stock had a trading volume of 1,308,900 shares, compared to its average volume of 583,013. The company has a market cap of $6,840.00, a PE ratio of 13.77 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.10 and a quick ratio of 0.64. Buckeye Partners L.P. has a 12-month low of $43.90 and a 12-month high of $73.01.
Buckeye Partners (NYSE:BPL) last announced its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). Buckeye Partners had a return on equity of 9.72% and a net margin of 12.69%. The company had revenue of $922.60 million for the quarter, compared to the consensus estimate of $795.12 million. During the same quarter in the prior year, the company earned $1.19 EPS. The company’s revenue for the quarter was up 20.3% on a year-over-year basis. sell-side analysts forecast that Buckeye Partners L.P. will post 3.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Monday, November 13th were paid a dividend of $1.2625 per share. The ex-dividend date was Friday, November 10th. This represents a $5.05 dividend on an annualized basis and a dividend yield of 10.99%. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio is currently 154.91%.
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Buckeye Partners 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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