Buckeye Partners (NYSE:BPL) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.
Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research note on Monday, April 1st. Zacks Investment Research upgraded shares of Buckeye Partners from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Barclays cut shares of Buckeye Partners from an “overweight” rating to an “equal weight” rating in a report on Monday. Stifel Nicolaus cut shares of Buckeye Partners from a “buy” rating to a “hold” rating and boosted their price objective for the company from $34.00 to $41.50 in a report on Monday. Finally, Mizuho set a $42.00 price objective on shares of Buckeye Partners and gave the company a “hold” rating in a report on Friday, May 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $39.05.
BPL opened at $41.80 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.92 and a debt-to-equity ratio of 0.90. The company has a market cap of $6.42 billion, a P/E ratio of 23.35 and a beta of 1.09. Buckeye Partners has a fifty-two week low of $25.71 and a fifty-two week high of $42.65.
In related news, VP Gary L. Bohnsack sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $41.73, for a total transaction of $104,325.00. Following the completion of the transaction, the vice president now owns 422 shares in the company, valued at $17,610.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.54% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Harvest Group Wealth Management LLC acquired a new position in shares of Buckeye Partners in the first quarter valued at approximately $28,000. Ellevest Inc. acquired a new position in shares of Buckeye Partners in the first quarter valued at approximately $31,000. Legacy Advisors LLC acquired a new position in shares of Buckeye Partners in the first quarter valued at approximately $34,000. Capital Investment Advisory Services LLC acquired a new position in shares of Buckeye Partners in the fourth quarter valued at approximately $36,000. Finally, FMR LLC boosted its holdings in shares of Buckeye Partners by 150,500.0% in the fourth quarter. FMR LLC now owns 1,506 shares of the pipeline company’s stock valued at $43,000 after buying an additional 1,505 shares during the period. Hedge funds and other institutional investors own 69.33% of the company’s stock.
About Buckeye Partners
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.
Featured Story: Key terms to understand channel trading
Receive News & Ratings for Buckeye Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners and related companies with MarketBeat.com's FREE daily email newsletter.