Trade Report: Today, Homrich & Berg Reached $247,000 position of Buckeye Partners, L.P. (BPL)

Today, Homrich & Berg Reached $247,000 position  of Buckeye Partners, L.P. (BPL)

Homrich & Berg cut its stake in shares of Buckeye Partners, L.P. (NYSE:BPL) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,443 shares of the company’s stock after selling 120 shares during the period. Homrich & Berg’s holdings in Buckeye Partners, L.P. were worth $247,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BPL. Spirit of America Management Corp NY raised its position in shares of Buckeye Partners, L.P. by 7.8% in the third quarter. Spirit of America Management Corp NY now owns 186,865 shares of the company’s stock valued at $13,379,000 after buying an additional 13,600 shares in the last quarter. Global X Management Co. LLC raised its stake in Buckeye Partners, L.P. by 3.6% in the second quarter. Global X Management Co. LLC now owns 258,340 shares of the company’s stock worth $18,169,000 after buying an additional 8,979 shares during the period. Dividend Assets Capital LLC acquired a new stake in Buckeye Partners, L.P. during the second quarter worth about $23,849,000. PBWM Holdings LLC raised its stake in Buckeye Partners, L.P. by 2.5% in the second quarter. PBWM Holdings LLC now owns 14,953 shares of the company’s stock worth $1,052,000 after buying an additional 360 shares during the period. Finally, MCF Advisors LLC raised its stake in Buckeye Partners, L.P. by 1.6% in the second quarter. MCF Advisors LLC now owns 4,321 shares of the company’s stock worth $304,000 after buying an additional 69 shares during the period.

Buckeye Partners, L.P. (NYSE:BPL) traded down 0.98% on Friday, hitting $63.93. 104,089 shares of the company were exchanged. Buckeye Partners, L.P. has a 52-week low of $47.07 and a 52-week high of $75.10. The stock has a market cap of $8.96 billion, a PE ratio of 14.87 and a beta of 0.95. The firm has a 50 day moving average of $66.76 and a 200-day moving average of $69.94.

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

A number of equities research analysts have issued reports on BPL shares. Goldman Sachs Group Inc. upgraded shares of Buckeye Partners, L.P. from a “neutral” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Monday, September 19th. US Capital Advisors upgraded shares of Buckeye Partners, L.P. from a “hold” rating to a “buy” rating in a report on Thursday, September 8th. Credit Suisse Group AG started coverage on shares of Buckeye Partners, L.P. in a report on Wednesday, October 12th. They set a “neutral” rating and a $78.00 target price on the stock. Mizuho reduced their target price on shares of 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 reduced their target price on shares of 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $73.10.

About Buckeye Partners, L.P.

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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