Heritage Way Advisors LLC held its position in shares of Buckeye Partners L.P. (NYSE:BPL) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,250 shares of the pipeline company’s stock at the end of the second quarter. Heritage Way Advisors LLC’s holdings in Buckeye Partners L.P. were worth $208,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of Buckeye Partners L.P. by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 9,750 shares of the pipeline company’s stock worth $645,000 after buying an additional 100 shares in the last quarter. Guggenheim Capital LLC increased its position in shares of Buckeye Partners L.P. by 5.1% in the fourth quarter. Guggenheim Capital LLC now owns 23,386 shares of the pipeline company’s stock worth $1,547,000 after buying an additional 1,134 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Buckeye Partners L.P. during the fourth quarter worth $3,387,000. Ibex Wealth Advisors acquired a new position in shares of Buckeye Partners L.P. during the fourth quarter worth $1,192,000. Finally, Creative Planning increased its position in shares of Buckeye Partners L.P. by 14.6% in the first quarter. Creative Planning now owns 1,133,117 shares of the pipeline company’s stock worth $77,687,000 after buying an additional 144,771 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.
Buckeye Partners L.P. (NYSE BPL) traded up 0.31% during midday trading on Tuesday, hitting $65.11. The stock had a trading volume of 344,088 shares. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 16.72 and a beta of 1.11. The firm has a 50-day moving average price of $63.88 and a 200-day moving average price of $66.79. Buckeye Partners L.P. has a 1-year low of $59.73 and a 1-year high of $75.10.
Buckeye Partners L.P. (NYSE:BPL) last posted its earnings results on Friday, May 5th. The pipeline company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by $0.12. The business had revenue of $969.30 million for the quarter, compared to analyst estimates of $848.34 million. Buckeye Partners L.P. had a return on equity of 12.03% and a net margin of 15.36%. The firm’s revenue was up 24.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, equities research analysts anticipate that Buckeye Partners L.P. will post $3.93 earnings per share for the current year.
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BPL has been the topic of a number of research reports. SunTrust Banks, Inc. initiated coverage on Buckeye Partners L.P. in a report on Monday, March 20th. They issued a “hold” rating and a $72.00 target price on the stock. Guggenheim initiated coverage on Buckeye Partners L.P. in a report on Monday, April 17th. They issued a “neutral” rating and a $72.00 target price on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $73.00 price objective on shares of Buckeye Partners L.P. in a report on Wednesday, April 19th. Stifel Nicolaus upgraded Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Monday, May 8th. They noted that the move was a valuation call. Finally, BidaskClub upgraded Buckeye Partners L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Buckeye Partners L.P. presently has an average rating of “Hold” and a consensus price target of $74.36.
In related news, SVP Todd J. Russo sold 3,280 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $67.00, for a total value of $219,760.00. Following the completion of the sale, the senior vice president now directly owns 14,106 shares in the company, valued at approximately $945,102. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert A. Malecky sold 6,955 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $69.00, for a total value of $479,895.00. Following the completion of the sale, the executive vice president now owns 80,559 shares of the company’s stock, valued at $5,558,571. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.
Buckeye Partners L.P. 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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