Captrust Financial Advisors lowered its stake in Buckeye Partners, L.P. (NYSE:BPL) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,042 shares of the pipeline company’s stock after selling 2,567 shares during the quarter. Captrust Financial Advisors’ holdings in Buckeye Partners were worth $523,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of BPL. Tortoise Capital Advisors L.L.C. grew its stake in shares of Buckeye Partners by 27.4% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 11,790,497 shares of the pipeline company’s stock valued at $419,636,000 after buying an additional 2,537,274 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Buckeye Partners by 12.6% in the fourth quarter. Alps Advisors Inc. now owns 14,531,387 shares of the pipeline company’s stock valued at $421,265,000 after buying an additional 1,626,804 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Buckeye Partners in the third quarter valued at about $52,182,000. Bank of Montreal Can grew its stake in shares of Buckeye Partners by 97.9% in the fourth quarter. Bank of Montreal Can now owns 2,145,556 shares of the pipeline company’s stock valued at $62,199,000 after buying an additional 1,061,307 shares in the last quarter. Finally, American International Group Inc. purchased a new position in Buckeye Partners in the third quarter valued at about $713,000. Institutional investors and hedge funds own 70.32% of the company’s stock.
NYSE:BPL opened at $33.89 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.28 and a current ratio of 0.46. Buckeye Partners, L.P. has a 52 week low of $25.71 and a 52 week high of $45.07. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 18.93 and a beta of 1.10.
Buckeye Partners (NYSE:BPL) last released its earnings results on Friday, February 8th. The pipeline company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.21. Buckeye Partners had a positive return on equity of 9.65% and a negative net margin of 1.44%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $958.86 million. During the same quarter last year, the business posted $0.85 EPS. Buckeye Partners’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, research analysts forecast that Buckeye Partners, L.P. will post 2.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 19th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date of this dividend was Friday, February 15th. Buckeye Partners’s dividend payout ratio is presently 167.60%.
BPL has been the subject of a number of analyst reports. Zacks Investment Research downgraded Buckeye Partners from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. ValuEngine raised Buckeye Partners from a “sell” rating to a “hold” rating in a report on Saturday, December 15th. Goldman Sachs Group reduced their price target on Buckeye Partners from $34.00 to $30.00 in a report on Thursday, January 3rd. Mizuho initiated coverage on Buckeye Partners in a report on Monday. They issued a “neutral” rating and a $36.00 price target for the company. Finally, UBS Group raised Buckeye Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $33.00 to $36.00 in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $38.48.
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About Buckeye Partners
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.
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