Buckeye Partners (BPL) Now Covered by Bank of America

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.

Buckeye Partners (NYSE:BPL) last released its earnings results on Friday, November 3rd. The pipeline company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Buckeye Partners had a net margin of 12.69% and a return on equity of 9.72%. The firm had revenue of $922.60 million during the quarter, compared to the consensus estimate of $795.12 million. During the same period in the prior year, the business posted $1.19 earnings per share. Buckeye Partners’s quarterly revenue was up 20.3% compared to the same quarter last year. research analysts predict that Buckeye Partners will post 3.37 EPS for the current year.

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.

TRADEMARK VIOLATION WARNING: “Buckeye Partners (BPL) Now Covered by Bank of America” was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2018/01/12/buckeye-partners-bpl-now-covered-by-bank-of-america.html.

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.

The Fly

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

Receive News & Ratings for Buckeye Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply