Buckeye Partners (NYSE:BPL)‘s stock had its “hold” rating reiterated by equities research analysts at SunTrust Banks in a research report issued to clients and investors on Monday. They currently have a $44.00 price target on the pipeline company’s stock. SunTrust Banks’ price target would suggest a potential upside of 8.27% from the company’s current price.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Buckeye Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 27th. Credit Suisse Group started coverage on shares of Buckeye Partners in a report on Thursday, January 4th. They set an “underperform” rating for the company. Citigroup decreased their price objective on shares of Buckeye Partners from $60.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, March 27th. Bank of America began coverage on shares of Buckeye Partners in a report on Tuesday, January 9th. They set a “neutral” rating for the company. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Buckeye Partners in a research note on Sunday, March 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Buckeye Partners presently has a consensus rating of “Hold” and a consensus price target of $52.23.
NYSE BPL traded up $0.01 during trading hours on Monday, reaching $40.64. 79,940 shares of the company were exchanged, compared to its average volume of 961,496. Buckeye Partners has a 1 year low of $35.24 and a 1 year high of $69.95. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.52 and a current ratio of 0.96. The company has a market capitalization of $5,893.44, a PE ratio of 12.24 and a beta of 1.20.
In other news, Director Mark C. Mckinley acquired 1,000 shares of Buckeye Partners stock in a transaction that occurred on Friday, March 23rd. The stock was bought at an average price of $38.46 per share, with a total value of $38,460.00. Following the completion of the purchase, the director now owns 26,000 shares in the company, valued at $999,960. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pieter Bakker sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $46.05, for a total transaction of $92,100.00. Following the transaction, the director now directly owns 19,552 shares of the company’s stock, valued at approximately $900,369.60. The disclosure for this sale can be found here. 0.42% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Albert D Mason Inc. grew its stake in Buckeye Partners by 4.0% during the fourth quarter. Albert D Mason Inc. now owns 31,933 shares of the pipeline company’s stock valued at $1,582,000 after acquiring an additional 1,240 shares in the last quarter. Ronna Sue Cohen lifted its position in Buckeye Partners by 5.3% during the fourth quarter. Ronna Sue Cohen now owns 31,831 shares of the pipeline company’s stock valued at $1,577,000 after purchasing an additional 1,594 shares during the last quarter. Aevitas Wealth Management Inc. bought a new stake in Buckeye Partners during the fourth quarter valued at approximately $102,000. IFG Advisory LLC bought a new stake in Buckeye Partners during the fourth quarter valued at approximately $810,000. Finally, Westbourne Investment Advisors Inc. lifted its position in Buckeye Partners by 23.7% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 14,100 shares of the pipeline company’s stock valued at $699,000 after purchasing an additional 2,700 shares during the last quarter. 70.42% of the stock is owned by institutional investors.
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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