Trade Report: The Buckeye Partners, L.P. (BPL) Receives Consensus Rating of “Buy” from Analysts

The Buckeye Partners, L.P. (BPL) Receives Consensus Rating of “Buy” from Analysts

Buckeye Partners, L.P. (NYSE:BPL) has earned an average recommendation of “Buy” from the eleven analysts that are currently covering the company. Four equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $73.67.

BPL has been the subject of several research reports. Zacks Investment Research downgraded Buckeye Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Goldman Sachs Group Inc. initiated coverage on Buckeye Partners, L.P. in a research report on Thursday, August 25th. They issued a “neutral” rating and a $78.00 target price for the company. US Capital Advisors upgraded Buckeye Partners, L.P. from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th. Mizuho initiated coverage on Buckeye Partners, L.P. in a research report on Thursday, September 29th. They issued a “neutral” rating and a $76.00 target price for the company. Finally, Credit Suisse Group AG initiated coverage on Buckeye Partners, L.P. in a research report on Wednesday, October 12th. They issued a “neutral” rating and a $78.00 target price for the company.

In other Buckeye Partners, L.P. news, Director Pieter Bakker bought 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was acquired at an average price of $70.25 per share, with a total value of $245,875.00. Following the completion of the purchase, the director now directly owns 17,552 shares of the company’s stock, valued at approximately $1,233,028. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

A number of large investors have recently added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new stake in shares of Buckeye Partners, L.P. during the first quarter worth approximately $222,000. LPL Financial LLC boosted its stake in shares of Buckeye Partners, L.P. by 2.3% in the first quarter. LPL Financial LLC now owns 99,871 shares of the company’s stock worth $6,370,000 after buying an additional 2,250 shares during the period. Harvest Fund Advisors LLC boosted its stake in shares of Buckeye Partners, L.P. by 16.3% in the first quarter. Harvest Fund Advisors LLC now owns 6,427,426 shares of the company’s stock worth $436,679,000 after buying an additional 899,843 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in shares of Buckeye Partners, L.P. by 52.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 165,997 shares of the company’s stock worth $11,278,000 after buying an additional 56,910 shares during the period. Finally, Clark Capital Management Group Inc. boosted its stake in shares of Buckeye Partners, L.P. by 1.6% in the first quarter. Clark Capital Management Group Inc. now owns 3,359 shares of the company’s stock worth $228,000 after buying an additional 52 shares during the period.

Buckeye Partners, L.P. (NYSE:BPL) opened at 69.28 on Thursday. Buckeye Partners, L.P. has a 12-month low of $47.07 and a 12-month high of $75.10. The company has a 50 day moving average price of $69.99 and a 200-day moving average price of $70.57. The company has a market capitalization of $9.08 billion, a PE ratio of 17.81 and a beta of 0.95.

Buckeye Partners, L.P. (NYSE:BPL) last announced its quarterly earnings data on Friday, August 5th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.11. The business had revenue of $777.12 million for the quarter, compared to the consensus estimate of $759.98 million. During the same quarter in the prior year, the company earned $0.71 earnings per share. Buckeye Partners, L.P.’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts anticipate that Buckeye Partners, L.P. will post $0.01 EPS for the current year.

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