Franklin Square Holdings L.P. Acquires New Position in Buckeye Partners L.P. (BPL)

Franklin Square Holdings L.P. acquired a new position in shares of Buckeye Partners L.P. (NYSE:BPL) during the first quarter, according to its most recent filing with the SEC. The firm acquired 8,100 shares of the pipeline company’s stock, valued at approximately $555,000. Buckeye Partners L.P. accounts for about 0.6% of Franklin Square Holdings L.P.’s portfolio, making the stock its 19th largest position.

A number of other large investors have also modified their holdings of BPL. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Buckeye Partners L.P. by 2.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,353 shares of the pipeline company’s stock worth $1,481,000 after buying an additional 557 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Buckeye Partners L.P. by 0.4% in the first quarter. Blair William & Co. IL now owns 88,170 shares of the pipeline company’s stock worth $6,060,000 after buying an additional 358 shares during the last quarter. Bollard Group LLC boosted its stake in shares of Buckeye Partners L.P. by 12.4% in the first quarter. Bollard Group LLC now owns 266,852 shares of the pipeline company’s stock worth $18,295,000 after buying an additional 29,437 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of Buckeye Partners L.P. during the first quarter worth approximately $117,000. Finally, Guggenheim Capital LLC boosted its stake in shares of Buckeye Partners L.P. by 5.1% in the fourth quarter. Guggenheim Capital LLC now owns 23,386 shares of the pipeline company’s stock worth $1,547,000 after buying an additional 1,134 shares during the last quarter. 70.52% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Buckeye Partners L.P. (NYSE:BPL) traded up 0.05% on Monday, hitting $61.37. 461,955 shares of the stock traded hands. Buckeye Partners L.P. has a one year low of $60.56 and a one year high of $75.10. The company’s 50 day moving average is $65.38 and its 200 day moving average is $66.90. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 15.76 and a beta of 1.15.

Buckeye Partners L.P. (NYSE:BPL) last issued its quarterly earnings results on Friday, May 5th. The pipeline company reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.12. The company had revenue of $969.30 million during the quarter, compared to analysts’ expectations of $848.34 million. Buckeye Partners L.P. had a return on equity of 12.03% and a net margin of 15.36%. The company’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. On average, equities analysts forecast that Buckeye Partners L.P. will post $4.05 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Monday, May 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 8.15%. The ex-dividend date of this dividend was Thursday, May 11th. This is a boost from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. Buckeye Partners L.P.’s payout ratio is 127.55%.

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A number of equities research analysts recently commented on BPL shares. Barclays PLC lowered their price objective on shares of Buckeye Partners L.P. from $75.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Monday, March 6th. Stifel Nicolaus raised shares of Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Monday, May 15th. SunTrust Banks, Inc. started coverage on shares of Buckeye Partners L.P. in a research note on Monday, March 20th. They issued a “hold” rating and a $72.00 price objective on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $73.00 price objective on shares of Buckeye Partners L.P. in a research note on Wednesday, April 19th. Finally, Guggenheim started 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 target on the stock. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Buckeye Partners L.P. currently has an average rating of “Hold” and an average target price of $73.20.

In other Buckeye Partners L.P. news, SVP Todd J. Russo sold 3,280 shares of Buckeye Partners L.P. stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $67.00, for a total transaction of $219,760.00. Following the transaction, the senior vice president now owns 14,106 shares of the company’s stock, valued at approximately $945,102. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert A. Malecky sold 6,955 shares of Buckeye Partners L.P. stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $69.00, for a total value of $479,895.00. Following the transaction, the executive vice president now directly owns 80,559 shares in the company, valued at approximately $5,558,571. The disclosure for this sale can be found here. Insiders own 0.38% 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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