Buckeye Partners L.P. (NYSE:BPL) PT Lowered to $56.00 at Royal Bank Of Canada

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.

Buckeye Partners (NYSE:BPL) last posted its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.05). The business had revenue of $922.60 million for the quarter, compared to the consensus estimate of $795.12 million. Buckeye Partners had a return on equity of 9.72% and a net margin of 12.69%. The company’s revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS. equities analysts anticipate that Buckeye Partners will post 3.4 EPS for the current year.

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.

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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.

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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