Bank of America initiated coverage on shares of Buckeye Partners (NYSE:BPL) in a research report report published on Tuesday, The Fly reports. The brokerage issued a neutral rating on the pipeline company’s stock.
Several other equities analysts have also recently weighed in on BPL. Zacks Investment Research cut shares of Buckeye Partners from a hold rating to a sell rating in a research note on Tuesday, December 19th. Citigroup decreased their target price on shares of Buckeye Partners from $77.00 to $72.00 and set a buy rating for the company in a research note on Tuesday, October 10th. Credit Suisse Group assumed coverage on shares of Buckeye Partners in a research note on Thursday, January 4th. They issued an underperform rating for the company. Barclays decreased their target price on shares of Buckeye Partners from $64.00 to $60.00 and set an equal weight rating for the company in a research note on Monday, November 6th. Finally, Wells Fargo & Co decreased their target price on shares of Buckeye Partners from $66.00 to $61.00 and set a market perform rating for the company in a research note on Tuesday, October 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Buckeye Partners has an average rating of Hold and a consensus price target of $64.91.
Buckeye Partners (NYSE BPL) traded up $0.41 during trading hours on Tuesday, hitting $53.92. 598,800 shares of the company traded hands, compared to its average volume of 830,888. Buckeye Partners has a twelve month low of $43.90 and a twelve month high of $73.01. The company has a quick ratio of 0.64, a current ratio of 1.10 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $7,850.00, a PE ratio of 16.54 and a beta of 1.10.
In other Buckeye Partners news, SVP Joseph Sauger sold 5,481 shares of Buckeye Partners stock in a transaction on Monday, December 4th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Hudock Capital Group LLC lifted its holdings in shares of Buckeye Partners by 1,564.7% during the third 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 in the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Buckeye Partners during the third quarter worth $114,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Buckeye Partners by 315.0% during the third 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 in the last quarter. Pathstone Family Office LLC acquired a new stake in shares of Buckeye Partners during the second quarter worth $142,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Buckeye Partners by 23.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,300 shares of the pipeline company’s stock worth $147,000 after buying an additional 439 shares in the last quarter. 69.88% of the stock is 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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