Buckeye Partners, L.P. (NYSE:BPL) Receives Average Recommendation of “Hold” from Brokerages

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Buckeye Partners, L.P. (NYSE:BPL) has been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $38.75.

BPL has been the subject of several research analyst reports. ValuEngine lowered 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 note on Monday, August 12th.

In other Buckeye Partners news, CFO Clair Keith St sold 5,000 shares of Buckeye Partners stock in a transaction on Friday, September 13th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BPL. Van ECK Associates Corp grew its stake in shares of Buckeye Partners by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 22,986 shares of the pipeline company’s stock valued at $944,000 after acquiring an additional 724 shares during the period. Chicago Capital Management LLC purchased a new position in Buckeye Partners in the second quarter worth $5,266,000. GSA Capital Partners LLP grew its position in Buckeye Partners by 4.6% in the second quarter. GSA Capital Partners LLP now owns 7,298 shares of the pipeline company’s stock worth $300,000 after acquiring an additional 318 shares in the last quarter. HighTower Advisors LLC increased its stake in Buckeye Partners by 52.3% in the second quarter. HighTower Advisors LLC now owns 107,642 shares of the pipeline company’s stock valued at $4,416,000 after acquiring an additional 36,960 shares during the last quarter. Finally, KCM Investment Advisors LLC bought a new position in Buckeye Partners in the third quarter valued at $411,000. 77.51% of the stock is owned by institutional investors.

Buckeye Partners stock remained flat at $$41.46 during mid-day trading on Friday. The firm has a market cap of $6.38 billion, a PE ratio of 23.16 and a beta of 0.70. The company has a quick ratio of 0.64, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The firm has a fifty day simple moving average of $41.45 and a 200 day simple moving average of $41.21. Buckeye Partners has a 12 month low of $25.71 and a 12 month high of $42.65.

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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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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