Buckeye Partners L.P. (NYSE:BPL) had its price target cut by equities research analysts at Royal Bank Of Canada from $67.00 to $56.00 in a research report issued to clients and investors on Wednesday, November 8th. The firm presently has a “sector perform” rating on the pipeline company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 22.14% from the stock’s previous close.
Several other research analysts also recently issued reports on the stock. TheStreet downgraded shares of Buckeye Partners from a “b-” rating to a “c+” rating in a research note on Wednesday, October 25th. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective on shares of Buckeye Partners in a report on Sunday, October 29th. Mizuho reissued a “hold” rating and set a $60.00 price objective on shares of Buckeye Partners in a report on Sunday, November 5th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $72.00 target price on shares of Buckeye Partners in a report on Friday, November 3rd. Finally, UBS AG reduced their target price on shares of Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $65.33.
Shares of Buckeye Partners (NYSE BPL) traded down $1.00 during midday trading on Wednesday, hitting $45.85. 696,822 shares of the company traded hands, compared to its average volume of 575,127. Buckeye Partners has a one year low of $45.82 and a one year high of $73.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.10 and a quick ratio of 0.64. The stock has a market capitalization of $6,500.00, a PE ratio of 14.33 and a beta of 1.16.
Large investors have recently modified their holdings of the stock. Narwhal Capital Management boosted its position in shares of Buckeye Partners by 51.7% during the third quarter. Narwhal Capital Management now owns 16,750 shares of the pipeline company’s stock worth $955,000 after acquiring an additional 5,710 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Buckeye Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 33,970 shares of the pipeline company’s stock worth $2,172,000 after acquiring an additional 1,902 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Buckeye Partners by 135.2% during the second quarter. Ameriprise Financial Inc. now owns 32,699 shares of the pipeline company’s stock worth $2,090,000 after acquiring an additional 18,797 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Buckeye Partners by 38.4% during the second quarter. Evergreen Capital Management LLC now owns 175,235 shares of the pipeline company’s stock worth $11,203,000 after acquiring an additional 48,585 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Buckeye Partners during the second quarter worth $254,000. Hedge funds and other institutional investors own 63.25% of the company’s stock.
About Buckeye Partners
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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