Perella Weinberg Partners Capital Management LP purchased a new position in Buckeye Partners, L.P. (NYSE:BPL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 120,080 shares of the pipeline company’s stock, valued at approximately $3,488,000. Perella Weinberg Partners Capital Management LP owned approximately 0.08% of Buckeye Partners as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in BPL. Highland Capital Management LP acquired a new stake in shares of Buckeye Partners during the third quarter worth about $1,428,000. Wells Fargo & Company MN lifted its position in shares of Buckeye Partners by 93.8% during the third quarter. Wells Fargo & Company MN now owns 337,659 shares of the pipeline company’s stock worth $12,059,000 after purchasing an additional 163,418 shares in the last quarter. Huntington National Bank raised its holdings in Buckeye Partners by 12.7% in the third quarter. Huntington National Bank now owns 38,288 shares of the pipeline company’s stock valued at $1,367,000 after acquiring an additional 4,323 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Buckeye Partners in the second quarter valued at approximately $11,052,000. Finally, LVW Advisors LLC raised its holdings in Buckeye Partners by 110.0% in the third quarter. LVW Advisors LLC now owns 17,274 shares of the pipeline company’s stock valued at $617,000 after acquiring an additional 9,050 shares in the last quarter. 68.89% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on BPL. Zacks Investment Research lowered shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Guggenheim restated a “hold” rating and set a $38.00 target price on shares of Buckeye Partners in a research report on Monday, November 5th. Barclays upgraded shares of Buckeye Partners from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $38.00 in a research report on Wednesday, January 16th. SunTrust Banks upgraded shares of Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 2nd. Finally, ValuEngine upgraded shares of Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $40.53.
Buckeye Partners (NYSE:BPL) last released its earnings results on Friday, February 8th. The pipeline company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.21. Buckeye Partners had a positive return on equity of 9.41% and a negative net margin of 1.44%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $958.86 million. During the same quarter last year, the company earned $0.85 earnings per share. Buckeye Partners’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts predict that Buckeye Partners, L.P. will post 2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Stockholders of record on Tuesday, February 19th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 9.27%. The ex-dividend date is Friday, February 15th. Buckeye Partners’s dividend payout ratio (DPR) is presently 167.60%.
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Buckeye Partners Company Profile
Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates; refined petroleum products; and crude oil.
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