Buckeye Partners, L.P. (BPL) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Buckeye Partners, L.P. (NYSE:BPL) have received a consensus rating of “Hold” from the sixteen brokerages that are covering the stock, Marketbeat reports. Thirteen research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $36.33.

Several research firms recently commented on BPL. Mizuho began coverage on shares of Buckeye Partners in a research report on Monday, March 11th. They issued a “neutral” rating and a $36.00 price objective on the stock. ValuEngine raised shares of Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. UBS Group cut shares of Buckeye Partners from a “buy” rating to a “neutral” rating and set a $33.25 price objective on the stock. in a research report on Friday, March 8th. Barclays reiterated a “buy” rating and issued a $38.00 price target on shares of Buckeye Partners in a research note on Tuesday, February 19th. Finally, Zacks Investment Research lowered shares of Buckeye Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th.

BPL opened at $34.55 on Friday. The firm has a market capitalization of $5.31 billion, a P/E ratio of 19.30 and a beta of 1.10. Buckeye Partners has a 12 month low of $25.71 and a 12 month high of $42.68. The company has a current ratio of 0.46, a quick ratio of 0.28 and a debt-to-equity ratio of 0.97.

Buckeye Partners (NYSE:BPL) last posted its quarterly earnings data on Friday, February 8th. The pipeline company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.69 by $0.21. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $958.86 million. Buckeye Partners had a negative net margin of 1.44% and a positive return on equity of 9.65%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. As a group, equities analysts forecast that Buckeye Partners will post 2.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 19th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, February 15th. This represents a $3.00 annualized dividend and a yield of 8.68%. Buckeye Partners’s payout ratio is currently 167.60%.

Hedge funds have recently modified their holdings of the business. Capital Investment Advisory Services LLC acquired a new position in shares of Buckeye Partners during the 4th quarter worth about $36,000. FMR LLC increased its stake in shares of Buckeye Partners by 150,500.0% during the 4th quarter. FMR LLC now owns 1,506 shares of the pipeline company’s stock worth $43,000 after purchasing an additional 1,505 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of Buckeye Partners during the 4th quarter worth about $122,000. Cerebellum GP LLC acquired a new position in shares of Buckeye Partners during the 4th quarter worth about $270,000. Finally, Suntrust Banks Inc. acquired a new position in shares of Buckeye Partners during the 4th quarter worth about $282,000. Hedge funds and other institutional investors own 70.28% of the company’s stock.

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.

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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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