Mizuho reiterated their hold rating on shares of Buckeye Partners L.P. (NYSE:BPL) in a report published on Sunday, November 5th. They currently have a $60.00 target price on the pipeline company’s stock.
BPL has been the subject of several other research reports. Stifel Nicolaus reiterated a buy rating and set a $68.00 price target on shares of Buckeye Partners L.P. in a research note on Sunday, October 29th. TheStreet cut Buckeye Partners L.P. from a b- rating to a c+ rating in a research report on Wednesday, October 25th. Credit Suisse Group set a $74.00 price objective on Buckeye Partners L.P. and gave the stock a hold rating in a research report on Monday, August 7th. Royal Bank Of Canada reissued a hold rating and set a $67.00 price objective on shares of Buckeye Partners L.P. in a research report on Wednesday, September 13th. Finally, SunTrust Banks, Inc. reaffirmed a hold rating and issued a $72.00 price target on shares of Buckeye Partners L.P. in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $65.33.
Buckeye Partners L.P. (NYSE:BPL) traded up $0.14 during trading hours on Friday, reaching $46.85. The company had a trading volume of 243,228 shares, compared to its average volume of 574,591. The company has a quick ratio of 0.64, a current ratio of 1.10 and a debt-to-equity ratio of 0.93. Buckeye Partners L.P. has a 52-week low of $45.95 and a 52-week high of $73.01. The firm has a market capitalization of $6,620.00, a price-to-earnings ratio of 14.28 and a beta of 1.16.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 13th were given a dividend of $1.2625 per share. The ex-dividend date of this dividend was Friday, November 10th. This is a positive change from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. This represents a $5.05 dividend on an annualized basis and a yield of 10.78%. Buckeye Partners L.P.’s dividend payout ratio is 154.91%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPL. Hudock Capital Group LLC boosted its position in Buckeye Partners L.P. by 1,564.7% in the 3rd quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock valued at $110,000 after buying an additional 1,815 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in Buckeye Partners L.P. in the 3rd quarter valued at $114,000. Ffcm LLC boosted its position in Buckeye Partners L.P. by 221.3% in the 2nd quarter. Ffcm LLC now owns 1,764 shares of the pipeline company’s stock valued at $115,000 after buying an additional 1,215 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Buckeye Partners L.P. by 315.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock valued at $118,000 after buying an additional 1,575 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Buckeye Partners L.P. in the 1st quarter worth $128,000. Institutional investors and hedge funds own 63.25% of the company’s stock.
Buckeye Partners L.P. Company Profile
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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