Today: Ancora Inverness LLC Sold shares of Buckeye Partners, L.P. (BPL)

Today: Ancora Inverness LLC Sold shares of Buckeye Partners, L.P. (BPL)

Ancora Inverness LLC cut its position in Buckeye Partners, L.P. (NYSE:BPL) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,108 shares of the company’s stock after selling 979 shares during the period. Ancora Inverness LLC’s holdings in Buckeye Partners, L.P. were worth $1,511,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BPL. Global X Management Co. LLC raised its stake in shares of Buckeye Partners, L.P. by 18.5% in the third quarter. Global X Management Co. LLC now owns 306,123 shares of the company’s stock valued at $21,918,000 after buying an additional 47,783 shares during the period. Novare Capital Management LLC raised its stake in shares of Buckeye Partners, L.P. by 10.6% in the third quarter. Novare Capital Management LLC now owns 43,445 shares of the company’s stock valued at $3,111,000 after buying an additional 4,150 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of Buckeye Partners, L.P. by 2.8% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,394 shares of the company’s stock valued at $243,000 after buying an additional 91 shares during the period. Kings Point Capital Management raised its stake in shares of Buckeye Partners, L.P. by 205.6% in the third quarter. Kings Point Capital Management now owns 2,081 shares of the company’s stock valued at $149,000 after buying an additional 1,400 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Buckeye Partners, L.P. by 943.4% in the third quarter. Sei Investments Co. now owns 2,212 shares of the company’s stock valued at $159,000 after buying an additional 2,000 shares during the period.

Buckeye Partners, L.P. (NYSE:BPL) traded down 1.1354% during trading on Monday, hitting $64.3213. 66,374 shares of the stock traded hands. Buckeye Partners, L.P. has a 52-week low of $47.07 and a 52-week high of $75.10. The stock has a 50 day moving average price of $66.58 and a 200-day moving average price of $69.92. The stock has a market cap of $9.02 billion, a P/E ratio of 14.9654 and a beta of 0.95.

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. The ex-dividend date was Thursday, November 10th. This is a positive change from Buckeye Partners, L.P.’s previous quarterly dividend of $1.21. This represents a $4.90 dividend on an annualized basis and a yield of 7.53%.

Several analysts recently issued reports on the stock. Mizuho cut their target price on shares of Buckeye Partners, L.P. from $76.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Stifel Nicolaus cut their target price on shares of Buckeye Partners, L.P. from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Credit Suisse Group AG assumed coverage on shares of Buckeye Partners, L.P. in a research report on Wednesday, October 12th. They set a “neutral” rating and a $78.00 target price for the company. 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 for the company in a research report on Monday, September 19th. Finally, US Capital Advisors upgraded shares of Buckeye Partners, L.P. from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Buckeye Partners, L.P. presently has a consensus rating of “Buy” and an average price target 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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