Buckeye Partners, L.P. (NYSE:BPL) has received an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $38.55.

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued a “hold” rating and set a $38.00 target price on shares of Buckeye Partners in a report on Tuesday, November 6th. Bank of America lifted their target price on Buckeye Partners from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Monday, November 5th. Guggenheim reissued a “hold” rating and set a $38.00 target price on shares of Buckeye Partners in a report on Monday, November 5th. Stifel Nicolaus reissued a “buy” rating and set a $37.00 target price on shares of Buckeye Partners in a report on Sunday, November 4th. Finally, SunTrust Banks raised Buckeye Partners from a “sell” rating to a “hold” rating in a report on Friday, November 2nd.

BPL opened at $32.20 on Monday. Buckeye Partners has a fifty-two week low of $31.25 and a fifty-two week high of $57.19. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.96 and a quick ratio of 0.63. The firm has a market cap of $4.73 billion, a PE ratio of 9.70 and a beta of 1.25.

Buckeye Partners (NYSE:BPL) last posted its earnings results on Friday, November 2nd. The pipeline company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.11). Buckeye Partners had a positive return on equity of 8.98% and a negative net margin of 10.43%. The firm had revenue of $909.55 million for the quarter, compared to analyst estimates of $921.74 million. During the same period in the prior year, the business posted $0.81 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Buckeye Partners will post 0.69 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 13th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date is Friday, November 9th. Buckeye Partners’s dividend payout ratio (DPR) is presently 90.36%.

In related news, SVP Todd J. Russo sold 6,800 shares of the business’s stock in a transaction dated Monday, November 12th. The stock was sold at an average price of $32.25, for a total value of $219,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Groesbeck Investment Management Corp NJ grew its position in Buckeye Partners by 12.5% in the second quarter. Groesbeck Investment Management Corp NJ now owns 12,096 shares of the pipeline company’s stock valued at $425,000 after acquiring an additional 1,345 shares during the last quarter. LVW Advisors LLC grew its holdings in shares of Buckeye Partners by 22.8% during the second quarter. LVW Advisors LLC now owns 8,224 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 1,525 shares during the last quarter. Probabilities Fund Management LLC grew its holdings in shares of Buckeye Partners by 10.3% during the third quarter. Probabilities Fund Management LLC now owns 18,320 shares of the pipeline company’s stock worth $654,000 after purchasing an additional 1,712 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Buckeye Partners by 1.8% during the third quarter. Commonwealth Equity Services LLC now owns 104,089 shares of the pipeline company’s stock worth $3,717,000 after purchasing an additional 1,849 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of Buckeye Partners by 12.6% during the third quarter. MML Investors Services LLC now owns 18,785 shares of the pipeline company’s stock worth $671,000 after purchasing an additional 2,098 shares during the last quarter. Hedge funds and other institutional investors own 69.26% of the company’s stock.

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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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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