Buckeye Partners L.P. (NYSE:BPL) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $45.85 and last traded at $46.85, with a volume of 243200 shares. The stock had previously closed at $46.71.
Several brokerages recently issued reports on BPL. Zacks Investment Research raised Buckeye Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, September 18th. BidaskClub cut Buckeye Partners from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. UBS AG dropped their price objective on Buckeye Partners from $76.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Royal Bank Of Canada reissued a “hold” rating and issued a $67.00 price objective on shares of Buckeye Partners in a research note on Monday, October 16th. Finally, SunTrust Banks, Inc. set a $58.00 price objective on Buckeye Partners and gave the stock a “hold” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Buckeye Partners presently has an average rating of “Hold” and a consensus target price of $65.33.
The firm has a market cap of $6,500.00, a P/E ratio of 14.33 and a beta of 1.16. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.10 and a quick ratio of 0.64.
Buckeye Partners (NYSE:BPL) last announced its earnings results on Friday, November 3rd. The pipeline company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.05). The company had revenue of $922.60 million for the quarter, compared to the consensus estimate of $795.12 million. Buckeye Partners had a net margin of 12.69% and a return on equity of 9.72%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business posted $1.19 EPS. research analysts expect that Buckeye Partners L.P. will post 3.4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 13th were given a dividend of $1.2625 per share. This represents a $5.05 annualized dividend and a yield of 11.01%. The ex-dividend date of this dividend was Friday, November 10th. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s dividend payout ratio (DPR) is 154.91%.
A number of hedge funds and other institutional investors have recently made changes to their positions in BPL. Hudock Capital Group LLC boosted its position in Buckeye Partners by 1,564.7% during the 3rd quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock valued at $110,000 after acquiring an additional 1,815 shares in the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in Buckeye Partners during the 3rd quarter valued at $114,000. Ffcm LLC boosted its position in Buckeye Partners by 221.3% during the 2nd quarter. Ffcm LLC now owns 1,764 shares of the pipeline company’s stock valued at $115,000 after acquiring an additional 1,215 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Buckeye Partners by 315.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock valued at $118,000 after acquiring an additional 1,575 shares in the last quarter. Finally, Pathstone Family Office LLC bought a new stake in Buckeye Partners during the 2nd quarter valued at $142,000. 63.25% of the stock is currently owned by institutional investors and hedge funds.
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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