Ronna Sue Cohen raised its holdings in shares of Buckeye Partners, L.P. (NYSE:BPL) by 13.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,865 shares of the pipeline company’s stock after purchasing an additional 4,130 shares during the quarter. Ronna Sue Cohen’s holdings in Buckeye Partners were worth $1,209,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BPL. Kayne Anderson Capital Advisors LP boosted its position in shares of Buckeye Partners by 104.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 10,962,616 shares of the pipeline company’s stock valued at $388,338,000 after buying an additional 5,608,858 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Buckeye Partners by 90.6% during the first quarter. BNP Paribas Arbitrage SA now owns 23,898 shares of the pipeline company’s stock valued at $894,000 after buying an additional 11,362 shares during the period. BB&T Securities LLC boosted its position in shares of Buckeye Partners by 25.6% during the first quarter. BB&T Securities LLC now owns 19,409 shares of the pipeline company’s stock valued at $726,000 after buying an additional 3,955 shares during the period. Ancora Advisors LLC boosted its position in shares of Buckeye Partners by 19.4% during the first quarter. Ancora Advisors LLC now owns 14,568 shares of the pipeline company’s stock valued at $545,000 after buying an additional 2,366 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Buckeye Partners by 3.6% during the first quarter. LPL Financial LLC now owns 58,374 shares of the pipeline company’s stock valued at $2,183,000 after buying an additional 2,029 shares during the period. Institutional investors and hedge funds own 66.97% of the company’s stock.

BPL has been the subject of a number of research reports. Zacks Investment Research upgraded Buckeye Partners from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. SunTrust Banks lowered Buckeye Partners from a “hold” rating to a “sell” rating and set a $72.00 price target for the company. in a report on Monday, July 23rd. JPMorgan Chase & Co. lowered their price target on Buckeye Partners from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, August 24th. Bank of America lowered their price target on Buckeye Partners from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, July 24th. Finally, Stifel Nicolaus lowered their price target on Buckeye Partners from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Buckeye Partners currently has a consensus rating of “Hold” and an average price target of $44.58.

Shares of NYSE BPL traded up $1.42 during trading hours on Tuesday, reaching $36.08. The stock had a trading volume of 22,455 shares, compared to its average volume of 1,012,332. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.70 and a current ratio of 1.01. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 10.70 and a beta of 1.27. Buckeye Partners, L.P. has a 52-week low of $32.03 and a 52-week high of $57.19.

Buckeye Partners (NYSE:BPL) last announced its quarterly earnings results on Friday, August 3rd. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.10). The firm had revenue of $940.84 million during the quarter, compared to analysts’ expectations of $811.12 million. Buckeye Partners had a net margin of 11.19% and a return on equity of 9.12%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Analysts forecast that Buckeye Partners, L.P. will post 2.85 earnings per share for the current year.

About Buckeye Partners

Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates; refined petroleum products; and crude oil.

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Institutional Ownership by Quarter for Buckeye Partners (NYSE:BPL)

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