Today, Cohen Capital Management Inc. Buys 1,750 Shares of Buckeye Partners, L.P. (BPL)

Today, Cohen Capital Management Inc. Buys 1,750 Shares of Buckeye Partners, L.P. (BPL)

Cohen Capital Management Inc. raised its position in shares of Buckeye Partners, L.P. (NYSE:BPL) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,334 shares of the company’s stock after buying an additional 1,750 shares during the period. Buckeye Partners, L.P. accounts for 1.7% of Cohen Capital Management Inc.’s holdings, making the stock its 21st largest position. Cohen Capital Management Inc.’s holdings in Buckeye Partners, L.P. were worth $6,182,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Capital One National Association increased its stake in shares of Buckeye Partners, L.P. by 7.8% in the second quarter. Capital One National Association now owns 9,891 shares of the company’s stock worth $696,000 after buying an additional 717 shares during the period. Albert D Mason Inc. increased its stake in shares of Buckeye Partners, L.P. by 3.2% in the second quarter. Albert D Mason Inc. now owns 40,228 shares of the company’s stock worth $2,829,000 after buying an additional 1,250 shares during the period. Telemus Capital LLC acquired a new stake in shares of Buckeye Partners, L.P. during the second quarter worth about $201,000. Trust Asset Management LLC increased its stake in shares of Buckeye Partners, L.P. by 3.3% in the second quarter. Trust Asset Management LLC now owns 11,767 shares of the company’s stock worth $828,000 after buying an additional 376 shares during the period. Finally, Boys Arnold & Co. Inc. acquired a new stake in shares of Buckeye Partners, L.P. during the second quarter worth about $447,000.

Buckeye Partners, L.P. (NYSE:BPL) traded down 1.75% during trading on Monday, hitting $63.92. The stock had a trading volume of 625,876 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 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 $8.96 billion, a price-to-earnings ratio of 14.87 and a beta of 0.95.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 15th were paid a $1.225 dividend. This is a positive change from Buckeye Partners, L.P.’s previous quarterly dividend of $1.21. The ex-dividend date was Thursday, November 10th. This represents a $4.90 dividend on an annualized basis and a dividend yield of 7.53%.

BPL has been the topic of a number of research reports. Mizuho initiated coverage on Buckeye Partners, L.P. in a report on Thursday, September 29th. They set a “neutral” rating and a $76.00 price objective on the stock. US Capital Advisors raised 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 set a “neutral” rating and a $78.00 price objective on the stock. Goldman Sachs Group Inc. initiated coverage on Buckeye Partners, L.P. in a report on Thursday, August 25th. They set a “neutral” rating and a $78.00 price objective on the stock. Finally, Stifel Nicolaus decreased 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus 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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