Buckeye Partners (BPL) Given Buy Rating at UBS Group
Buckeye Partners (NYSE:BPL)‘s stock had its “buy” rating reaffirmed by analysts at UBS Group in a report issued on Friday, www.benzinga.com reports. They currently have a $55.00 target price on the pipeline company’s stock, down from their previous target price of $64.00. UBS Group’s target price would suggest a potential upside of 23.79% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. Mizuho reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Buckeye Partners in a research report on Sunday, November 5th. Royal Bank of Canada lowered their price objective on Buckeye Partners from $67.00 to $56.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 8th. SunTrust Banks reaffirmed a “hold” rating and issued a $72.00 price objective on shares of Buckeye Partners in a research report on Friday, November 3rd. Credit Suisse Group started coverage on Buckeye Partners in a research report on Thursday, January 4th. They issued an “underperform” rating on the stock. Finally, Stifel Nicolaus lowered their price objective on Buckeye Partners from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Buckeye Partners presently has an average rating of “Hold” and a consensus target price of $61.40.
Buckeye Partners (BPL) traded down $0.62 during mid-day trading on Friday, reaching $44.43. The company had a trading volume of 943,445 shares, compared to its average volume of 832,923. The company has a market cap of $6,520.00, a PE ratio of 13.30 and a beta of 1.14. Buckeye Partners has a fifty-two week low of $43.90 and a fifty-two week high of $69.95. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.96 and a quick ratio of 0.64.
In other news, SVP Joseph Sauger sold 5,481 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $47.04, for a total transaction of $257,826.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Pieter Bakker sold 2,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $46.05, for a total value of $92,100.00. Following the transaction, the director now directly owns 19,552 shares in the company, valued at $900,369.60. The disclosure for this sale can be found here. Insiders have sold a total of 7,829 shares of company stock worth $366,623 over the last three months. Insiders own 0.42% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Buckeye Partners during the 3rd quarter valued at $114,000. Aevitas Wealth Management Inc. bought a new position in shares of Buckeye Partners during the 4th quarter valued at $102,000. BNP Paribas Arbitrage SA lifted its holdings 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 valued at $118,000 after buying an additional 1,575 shares during the period. IFG Advisory LLC bought a new position in shares of Buckeye Partners during the 4th quarter valued at $810,000. Finally, Captrust Financial Advisors bought a new position in shares of Buckeye Partners during the 4th quarter valued at $160,000. 70.88% of the stock is currently owned by hedge funds and other institutional investors.
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Buckeye Partners 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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