Buckeye Partners, L.P. (BPL) SVP Sells $17,742.48 in Stock
Buckeye Partners, L.P. (NYSE:BPL) SVP Joseph Sauger sold 537 shares of the stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $33.04, for a total transaction of $17,742.48. Following the transaction, the senior vice president now owns 25,907 shares in the company, valued at $855,967.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
NYSE BPL opened at $32.41 on Friday. Buckeye Partners, L.P. has a one year low of $31.29 and a one year high of $57.19. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.70 and a current ratio of 0.96. The company has a market capitalization of $4.85 billion, a P/E ratio of 9.76 and a beta of 1.25.
Buckeye Partners (NYSE:BPL) last posted its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.11). Buckeye Partners had a negative net margin of 10.43% and a positive return on equity of 8.98%. The business had revenue of $909.55 million during the quarter, compared to analysts’ expectations of $921.74 million. During the same quarter in the previous year, the business posted $0.81 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that Buckeye Partners, L.P. will post 0.69 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Poehling Capital Management LLC acquired a new stake in Buckeye Partners in the second quarter valued at approximately $105,000. Sun Life Financial INC grew its position in Buckeye Partners by 2,566.7% in the second quarter. Sun Life Financial INC now owns 4,000 shares of the pipeline company’s stock valued at $141,000 after acquiring an additional 3,850 shares in the last quarter. Advisors Asset Management Inc. grew its position in Buckeye Partners by 3,747.9% in the second quarter. Advisors Asset Management Inc. now owns 167,229 shares of the pipeline company’s stock valued at $142,000 after acquiring an additional 162,883 shares in the last quarter. First Hawaiian Bank acquired a new stake in Buckeye Partners in the third quarter valued at approximately $143,000. Finally, Adviser Investments LLC acquired a new stake in Buckeye Partners in the second quarter valued at approximately $155,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.
Several research analysts have recently weighed in on BPL shares. Bank of America increased their price objective on shares of Buckeye Partners from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, November 5th. Royal Bank of Canada reiterated a “hold” rating and set a $38.00 price objective on shares of Buckeye Partners in a report on Tuesday. Stifel Nicolaus cut their price objective on shares of Buckeye Partners from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, August 6th. SunTrust Banks lowered shares of Buckeye Partners from a “hold” rating to a “sell” rating and set a $72.00 price objective on the stock. in a report on Monday, July 23rd. Finally, Zacks Investment Research upgraded shares of Buckeye Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.38.
Buckeye Partners Company Profile
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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