Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Buckeye Partners, L.P. (NYSE:BPL) by 17.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 556,241 shares of the pipeline company’s stock after buying an additional 81,114 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Buckeye Partners were worth $18,923,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in BPL. Harvest Group Wealth Management LLC bought a new stake in shares of Buckeye Partners in the 1st quarter worth about $28,000. Ellevest Inc. bought a new stake in shares of Buckeye Partners in the 1st quarter worth about $31,000. Legacy Advisors LLC bought a new stake in shares of Buckeye Partners in the 1st quarter worth about $34,000. Capital Investment Advisory Services LLC bought a new stake in shares of Buckeye Partners in the 4th quarter worth about $36,000. Finally, FMR LLC grew its holdings in shares of Buckeye Partners by 150,500.0% in the 4th quarter. FMR LLC now owns 1,506 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 1,505 shares during the last quarter. Institutional investors own 69.33% of the company’s stock.
BPL has been the topic of several analyst reports. Barclays raised shares of Buckeye Partners from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $38.00 in a report on Wednesday, January 16th. Zacks Investment Research lowered shares of Buckeye Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. ValuEngine lowered shares of Buckeye Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Finally, UBS Group raised shares of Buckeye Partners from a “neutral” rating to a “buy” rating and upped their target price for the stock from $33.00 to $36.00 in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the stock. Buckeye Partners has a consensus rating of “Hold” and an average target price of $39.79.
Shares of NYSE:BPL opened at $41.80 on Thursday. Buckeye Partners, L.P. has a 12 month low of $25.71 and a 12 month high of $42.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.92. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of 23.35 and a beta of 1.09.
Buckeye Partners (NYSE:BPL) last issued its earnings results on Friday, May 10th. The pipeline company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.07). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.13 billion. Buckeye Partners had a negative net margin of 2.29% and a positive return on equity of 9.46%. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period last year, the business posted $0.74 EPS. Analysts expect that Buckeye Partners, L.P. will post 2.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 20th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 7.18%. The ex-dividend date is Friday, May 17th. Buckeye Partners’s dividend payout ratio (DPR) is presently 167.60%.
In other news, VP Gary L. Bohnsack sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.73, for a total value of $104,325.00. Following the transaction, the vice president now owns 422 shares of the company’s stock, valued at approximately $17,610.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.
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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.
Further Reading: Asset Allocation and Your Retirement
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