Virtu Financial LLC Invests $494,000 in Buckeye Partners, L.P. (NYSE:BPL)

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Virtu Financial LLC bought a new position in Buckeye Partners, L.P. (NYSE:BPL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,027 shares of the pipeline company’s stock, valued at approximately $494,000.

Several other institutional investors and hedge funds have also made changes to their positions in BPL. Invesco Ltd. boosted its holdings in shares of Buckeye Partners by 94,399.3% in the 2nd quarter. Invesco Ltd. now owns 14,415,873 shares of the pipeline company’s stock worth $591,772,000 after acquiring an additional 14,400,618 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Buckeye Partners by 706.6% in the 2nd quarter. Morgan Stanley now owns 5,839,590 shares of the pipeline company’s stock worth $239,716,000 after acquiring an additional 5,115,615 shares in the last quarter. Bank of America Corp DE raised its position in Buckeye Partners by 229.7% in the 2nd quarter. Bank of America Corp DE now owns 4,191,687 shares of the pipeline company’s stock worth $172,068,000 after purchasing an additional 2,920,449 shares during the last quarter. UBS Group AG raised its position in Buckeye Partners by 44.5% in the 2nd quarter. UBS Group AG now owns 7,126,305 shares of the pipeline company’s stock worth $292,535,000 after purchasing an additional 2,193,475 shares during the last quarter. Finally, BlackRock Inc. raised its position in Buckeye Partners by 268.2% in the 2nd quarter. BlackRock Inc. now owns 1,886,735 shares of the pipeline company’s stock worth $77,451,000 after purchasing an additional 1,374,287 shares during the last quarter. 77.51% of the stock is currently owned by institutional investors and hedge funds.

BPL stock opened at $41.46 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.91 and a quick ratio of 0.64. The company has a 50 day moving average price of $41.45 and a 200 day moving average price of $41.21. Buckeye Partners, L.P. has a fifty-two week low of $25.71 and a fifty-two week high of $42.65. The stock has a market capitalization of $6.38 billion, a PE ratio of 23.16 and a beta of 0.70.

In related news, CFO Clair Keith St sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $41.17, for a total value of $205,850.00. Following the completion of the transaction, the chief financial officer now owns 134,715 shares in the company, valued at approximately $5,546,216.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

BPL has been the subject of several research analyst reports. ValuEngine cut shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Argus restated a “sell” rating on shares of Buckeye Partners in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.26.

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.

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

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