Today, Buckeye Partners, L.P. (BPL) Stake Held by Boston Financial Mangement LLC

Today, Buckeye Partners, L.P. (BPL) Stake Held by Boston Financial Mangement LLC
Boston Financial Mangement LLC held its position in Buckeye Partners, L.P. (NYSE:BPL) during the third quarter, Holdings Channel reports. The fund owned 4,000 shares of the company’s stock at the end of the third quarter. Boston Financial Mangement LLC’s holdings in Buckeye Partners, L.P. were worth $286,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Buckeye Partners, L.P. during the second quarter valued at $72,145,000. Harvest Fund Advisors LLC increased its position in Buckeye Partners, L.P. by 7.7% in the second quarter. Harvest Fund Advisors LLC now owns 6,919,645 shares of the company’s stock valued at $486,659,000 after buying an additional 492,219 shares during the period. Cohen & Steers Inc. increased its position in Buckeye Partners, L.P. by 96.1% in the second quarter. Cohen & Steers Inc. now owns 961,516 shares of the company’s stock valued at $67,623,000 after buying an additional 471,299 shares during the period. Center Coast Capital Advisors LP increased its position in Buckeye Partners, L.P. by 16.1% in the second quarter. Center Coast Capital Advisors LP now owns 2,628,278 shares of the company’s stock valued at $184,847,000 after buying an additional 364,002 shares during the period. Finally, Dividend Assets Capital LLC acquired a new position in Buckeye Partners, L.P. during the second quarter valued at $23,849,000.

Shares of Buckeye Partners, L.P. (NYSE:BPL) traded up 0.14% during midday trading on Friday, reaching $64.65. The company’s stock had a trading volume of 44,698 shares. Buckeye Partners, L.P. has a 12 month low of $47.07 and a 12 month high of $75.10. The stock has a market capitalization of $9.07 billion, a P/E ratio of 15.04 and a beta of 0.95. The stock’s 50-day moving average is $66.76 and its 200 day moving average is $69.94.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Investors of record on Tuesday, November 15th were given a dividend of $1.225 per share. This is a boost from Buckeye Partners, L.P.’s previous quarterly dividend of $1.21. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $4.90 dividend on an annualized basis and a yield of 7.59%.

BPL has been the topic of several recent analyst reports. Goldman Sachs Group Inc. upgraded Buckeye Partners, L.P. from a “neutral” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Monday, September 19th. US Capital Advisors upgraded Buckeye Partners, L.P. from a “hold” rating to a “buy” rating in a report on Thursday, September 8th. Credit Suisse Group AG initiated coverage on Buckeye Partners, L.P. in a report on Wednesday, October 12th. They issued a “neutral” rating and a $78.00 price objective on the stock. Mizuho cut their price objective on Buckeye Partners, L.P. from $76.00 to $70.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. Finally, Stifel Nicolaus cut their price objective on Buckeye Partners, L.P. from $78.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.10.

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 and marketing of liquid petroleum products. The Company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

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