Kayne Anderson Capital Advisors LP Has $252.89 Million Stake in Buckeye Partners L.P. (BPL)

Kayne Anderson Capital Advisors LP lowered its position in shares of Buckeye Partners L.P. (NYSE:BPL) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,436,858 shares of the pipeline company’s stock after selling 45,452 shares during the period. Buckeye Partners L.P. comprises about 3.2% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 8th biggest holding. Kayne Anderson Capital Advisors LP owned approximately 3.03% of Buckeye Partners L.P. worth $252,885,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BPL. US Bancorp DE boosted its position in Buckeye Partners L.P. by 5.0% during the 2nd quarter. US Bancorp DE now owns 30,591 shares of the pipeline company’s stock valued at $1,956,000 after buying an additional 1,445 shares during the period. Financial Architects Inc boosted its position in Buckeye Partners L.P. by 1,506.3% during the 2nd quarter. Financial Architects Inc now owns 2,570 shares of the pipeline company’s stock valued at $164,000 after buying an additional 2,410 shares during the period. Huntington National Bank boosted its position in Buckeye Partners L.P. by 5.0% during the 2nd quarter. Huntington National Bank now owns 35,680 shares of the pipeline company’s stock valued at $2,281,000 after buying an additional 1,715 shares during the period. Naples Global Advisors LLC boosted its position in Buckeye Partners L.P. by 4.7% during the 2nd quarter. Naples Global Advisors LLC now owns 6,750 shares of the pipeline company’s stock valued at $432,000 after buying an additional 300 shares during the period. Finally, MCF Advisors LLC boosted its position in Buckeye Partners L.P. by 1.9% during the 2nd quarter. MCF Advisors LLC now owns 2,508 shares of the pipeline company’s stock valued at $160,000 after buying an additional 46 shares during the period. 63.25% of the stock is owned by institutional investors and hedge funds.

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BPL has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price on shares of Buckeye Partners L.P. in a research report on Sunday, October 29th. Royal Bank Of Canada dropped their target price on shares of Buckeye Partners L.P. from $67.00 to $56.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 8th. TheStreet cut shares of Buckeye Partners L.P. from a “b-” rating to a “c+” rating in a research report on Wednesday, October 25th. Barclays PLC dropped their target price on shares of Buckeye Partners L.P. from $64.00 to $60.00 and set an “equal weight” rating for the company in a research report on Monday, November 6th. Finally, Credit Suisse Group set a $74.00 target price on shares of Buckeye Partners L.P. and gave the stock a “hold” rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $65.33.

Shares of Buckeye Partners L.P. (NYSE BPL) traded down $1.39 during trading on Wednesday, hitting $46.02. 897,600 shares of the company traded hands, compared to its average volume of 575,967. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.64 and a current ratio of 1.10. The company has a market cap of $6,952.39, a price-to-earnings ratio of 14.50 and a beta of 1.16. Buckeye Partners L.P. has a 52 week low of $45.95 and a 52 week high of $73.01.

Buckeye Partners L.P. (NYSE:BPL) last released its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.05). The firm had revenue of $922.60 million for the quarter, compared to the consensus estimate of $795.12 million. Buckeye Partners L.P. had a net margin of 12.69% and a return on equity of 9.72%. The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. equities analysts anticipate that Buckeye Partners L.P. will post 3.4 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 13th were paid a dividend of $1.2625 per share. This is a positive change from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. This represents a $5.05 dividend on an annualized basis and a yield of 10.97%. The ex-dividend date of this dividend was Friday, November 10th. Buckeye Partners L.P.’s dividend payout ratio (DPR) is currently 154.43%.

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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Institutional Ownership by Quarter for Buckeye Partners L.P. (NYSE:BPL)

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