Trade Report: The Sequoia Financial Advisors LLC invests in Buckeye Partners, L.P. (BPL) Shares

The Sequoia Financial Advisors LLC invests in Buckeye Partners, L.P. (BPL) Shares

Sequoia Financial Advisors LLC increased its position in Buckeye Partners, L.P. (NYSE:BPL) by 47.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,294 shares of the company’s stock after buying an additional 2,037 shares during the period. Sequoia Financial Advisors LLC’s holdings in Buckeye Partners, L.P. were worth $443,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in BPL. Avalon Advisors LLC boosted its position in Buckeye Partners, L.P. by 16.9% in the first quarter. Avalon Advisors LLC now owns 18,769 shares of the company’s stock worth $1,275,000 after buying an additional 2,717 shares during the period. Chilton Capital Management LLC bought a new position in Buckeye Partners, L.P. during the first quarter worth $222,000. LPL Financial LLC boosted its position in 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 position in 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. Finally, Silvercrest Asset Management Group LLC boosted its position in 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.

Shares of Buckeye Partners, L.P. (NYSE:BPL) traded up 0.49% during midday trading on Monday, hitting $69.28. The stock had a trading volume of 192,048 shares. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 17.81 and a beta of 0.95. The firm has a 50-day moving average price of $70.01 and a 200-day moving average price of $70.50. Buckeye Partners, L.P. has a 1-year low of $47.07 and a 1-year high of $75.10.

Buckeye Partners, L.P. (NYSE:BPL) last released 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 company had revenue of $777.12 million for the quarter, compared to the consensus estimate of $759.98 million. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. On average, equities analysts anticipate that Buckeye Partners, L.P. will post $0.01 EPS for the current fiscal year.

A number of research firms have recently weighed in on BPL. Zacks Investment Research raised Buckeye Partners, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Mizuho began coverage on Buckeye Partners, L.P. in a research note on Thursday, September 29th. They issued a “neutral” rating and a $76.00 target price for the company. US Capital Advisors upgraded Buckeye Partners, L.P. from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. Credit Suisse Group AG began coverage on Buckeye Partners, L.P. in a research note on Wednesday, October 12th. They issued a “neutral” rating and a $78.00 target price for the company. Finally, Goldman Sachs Group Inc. began coverage on Buckeye Partners, L.P. in a research note on Thursday, August 25th. They issued a “neutral” rating and a $78.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.90.

In related news, Director Pieter Bakker acquired 3,500 shares of Buckeye Partners, L.P. stock in a transaction dated Tuesday, August 23rd. The stock was acquired at an average cost of $70.25 per share, with a total value of $245,875.00. Following the purchase, the director now directly owns 17,552 shares in the company, valued at approximately $1,233,028. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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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