Ffcm LLC lifted its position in shares of Buckeye Partners L.P. (NYSE:BPL) by 221.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,764 shares of the pipeline company’s stock after purchasing an additional 1,215 shares during the period. Ffcm LLC’s holdings in Buckeye Partners L.P. were worth $115,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Evergreen Capital Management LLC increased its stake in Buckeye Partners L.P. by 38.4% during the second quarter. Evergreen Capital Management LLC now owns 175,235 shares of the pipeline company’s stock valued at $11,203,000 after purchasing an additional 48,585 shares during the last quarter. Global Endowment Management LP increased its stake in Buckeye Partners L.P. by 2.1% during the first quarter. Global Endowment Management LP now owns 34,490 shares of the pipeline company’s stock valued at $2,365,000 after purchasing an additional 700 shares during the last quarter. Blair William & Co. IL increased its stake in Buckeye Partners L.P. by 0.4% during the first quarter. Blair William & Co. IL now owns 88,170 shares of the pipeline company’s stock valued at $6,060,000 after purchasing an additional 358 shares during the last quarter. Boyer & Corporon Wealth Management LLC bought a new stake in Buckeye Partners L.P. during the second quarter valued at $2,172,000. Finally, Investment Centers of America Inc. bought a new stake in Buckeye Partners L.P. during the first quarter valued at $375,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
BPL has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $69.00 price target on shares of Buckeye Partners L.P. in a report on Sunday, September 10th. Barclays PLC cut their price target on shares of Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, August 7th. Credit Suisse Group set a $74.00 price objective on shares of Buckeye Partners L.P. and gave the company a “hold” rating in a research note on Monday, August 7th. Zacks Investment Research raised shares of Buckeye Partners L.P. from a “strong sell” rating to a “hold” rating in a research note on Monday, September 18th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $67.00 price objective on shares of Buckeye Partners L.P. in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $72.36.
In related news, Director Barbara J. Duganier bought 1,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $58.19 per share, for a total transaction of $58,190.00. Following the completion of the acquisition, the director now directly owns 9,000 shares of the company’s stock, valued at $523,710. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.
Buckeye Partners L.P. (NYSE:BPL) opened at 55.80 on Friday. The firm has a market cap of $7.88 billion, a P/E ratio of 15.43 and a beta of 1.14. Buckeye Partners L.P. has a 12-month low of $54.33 and a 12-month high of $73.01. The company has a 50-day moving average price of $57.39 and a 200-day moving average price of $63.59.
Buckeye Partners L.P. (NYSE:BPL) last announced its quarterly earnings results on Friday, August 4th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.20). The firm had revenue of $810.20 million during the quarter, compared to the consensus estimate of $797.47 million. Buckeye Partners L.P. had a return on equity of 11.04% and a net margin of 14.42%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 EPS. On average, analysts predict that Buckeye Partners L.P. will post $3.56 earnings per share for the current year.
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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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