Investors Purchase Large Volume of Call Options on Buckeye Partners (BPL)

Buckeye Partners, L.P. (NYSE:BPL) was the recipient of some unusual options trading on Thursday. Stock investors acquired 152,849 call options on the company. This represents an increase of approximately 38,498% compared to the typical daily volume of 396 call options.

Shares of BPL opened at $40.98 on Friday. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 22.89 and a beta of 1.09. Buckeye Partners has a 12 month low of $25.71 and a 12 month high of $42.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.92.

Buckeye Partners (NYSE:BPL) last issued its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.07). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.13 billion. Buckeye Partners had a positive return on equity of 9.46% and a negative net margin of 2.29%. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, equities research analysts predict that Buckeye Partners will post 2.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend is Friday, May 17th. Buckeye Partners’s dividend payout ratio is presently 167.60%.

A number of research analysts recently weighed in on BPL shares. Zacks Investment Research cut Buckeye Partners from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. ValuEngine upgraded Buckeye Partners from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Mizuho began coverage on Buckeye Partners in a research note on Monday, March 11th. They set a “neutral” rating and a $36.00 price objective on the stock. Argus cut Buckeye Partners from a “hold” rating to a “sell” rating and set a $41.80 price objective on the stock. in a research note on Wednesday. Finally, UBS Group upgraded Buckeye Partners from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $36.00 in a research note on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $39.79.

In related news, VP Gary L. Bohnsack sold 2,500 shares of Buckeye Partners stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $41.73, for a total value of $104,325.00. Following the transaction, the vice president now owns 422 shares in the company, valued at $17,610.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. lifted its stake in shares of Buckeye Partners by 3.4% in the first quarter. Stratos Wealth Partners LTD. now owns 10,675 shares of the pipeline company’s stock worth $363,000 after acquiring an additional 356 shares in the last quarter. Wade G W & Inc. lifted its stake in shares of Buckeye Partners by 2.2% in the first quarter. Wade G W & Inc. now owns 19,611 shares of the pipeline company’s stock worth $667,000 after acquiring an additional 425 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Buckeye Partners by 5.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 9,023 shares of the pipeline company’s stock worth $307,000 after acquiring an additional 432 shares in the last quarter. Jackson Hole Capital Partners LLC lifted its stake in shares of Buckeye Partners by 2.9% in the first quarter. Jackson Hole Capital Partners LLC now owns 17,317 shares of the pipeline company’s stock worth $589,000 after acquiring an additional 488 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Buckeye Partners by 2.8% in the first quarter. SG Americas Securities LLC now owns 29,304 shares of the pipeline company’s stock worth $997,000 after acquiring an additional 794 shares in the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.

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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.

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