Franklin Square Holdings L.P. Invests $555,000 in Buckeye Partners L.P. (BPL)

Franklin Square Holdings L.P. purchased a new stake in shares of Buckeye Partners L.P. (NYSE:BPL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,100 shares of the pipeline company’s stock, valued at approximately $555,000. Buckeye Partners L.P. makes up about 0.6% of Franklin Square Holdings L.P.’s holdings, making the stock its 19th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cypress Wealth Advisors LLC boosted its position in Buckeye Partners L.P. by 0.4% in the fourth quarter. Cypress Wealth Advisors LLC now owns 11,975 shares of the pipeline company’s stock valued at $792,000 after buying an additional 50 shares in the last quarter. Linscomb & Williams Inc. raised its position in shares of Buckeye Partners L.P. by 0.6% in the first quarter. Linscomb & Williams Inc. now owns 12,604 shares of the pipeline company’s stock worth $864,000 after buying an additional 78 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Buckeye Partners L.P. by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 9,750 shares of the pipeline company’s stock worth $645,000 after buying an additional 100 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Buckeye Partners L.P. by 0.6% in the fourth quarter. Baird Financial Group Inc. now owns 16,020 shares of the pipeline company’s stock worth $1,060,000 after buying an additional 100 shares during the last quarter. Finally, Clark Capital Management Group Inc. boosted its stake in Buckeye Partners L.P. by 3.0% in the first quarter. Clark Capital Management Group Inc. now owns 3,466 shares of the pipeline company’s stock worth $238,000 after buying an additional 102 shares during the last quarter. 70.55% of the stock is currently owned by institutional investors.

Shares of Buckeye Partners L.P. (NYSE BPL) traded up 0.78% during midday trading on Friday, hitting $64.56. 344,766 shares of the company traded hands. Buckeye Partners L.P. has a 52 week low of $59.73 and a 52 week high of $75.10. The stock has a 50 day moving average of $63.88 and a 200-day moving average of $66.79. The stock has a market capitalization of $9.07 billion, a PE ratio of 16.58 and a beta of 1.11.

Buckeye Partners L.P. (NYSE:BPL) last released its quarterly earnings results on Friday, May 5th. The pipeline company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.12. Buckeye Partners L.P. had a net margin of 15.36% and a return on equity of 12.03%. The business had revenue of $969.30 million during the quarter, compared to analysts’ expectations of $848.34 million. During the same quarter last year, the business posted $1.01 earnings per share. The company’s quarterly revenue was up 24.2% compared to the same quarter last year. Equities analysts forecast that Buckeye Partners L.P. will post $3.94 earnings per share for the current fiscal year.

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BPL has been the topic of several research analyst reports. Guggenheim initiated coverage on shares of Buckeye Partners L.P. in a research note on Monday, April 17th. They set a “neutral” rating and a $72.00 price objective on the stock. Stifel Nicolaus raised shares of Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Monday, May 8th. They noted that the move was a valuation call. SunTrust Banks, Inc. initiated coverage on shares of Buckeye Partners L.P. in a report on Monday, March 20th. They issued a “hold” rating and a $72.00 price objective on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $73.00 target price on shares of Buckeye Partners L.P. in a report on Wednesday, April 19th. Finally, BidaskClub raised shares of Buckeye Partners L.P. from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Buckeye Partners L.P. presently has an average rating of “Hold” and an average price target of $73.20.

In related news, EVP Robert A. Malecky sold 6,955 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $69.00, for a total transaction of $479,895.00. Following the sale, the executive vice president now directly owns 80,559 shares of the company’s stock, valued at $5,558,571. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Todd J. Russo sold 3,280 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $67.00, for a total value of $219,760.00. Following the completion of the sale, the senior vice president now directly owns 14,106 shares in the company, valued at $945,102. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

About Buckeye Partners L.P.

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.

Institutional Ownership by Quarter for Buckeye Partners L.P. (NYSE:BPL)

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