Strategic Capital Advisers Inc. bought a new stake in shares of Buckeye Partners, L.P. (NYSE:BPL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,181 shares of the pipeline company’s stock, valued at approximately $207,000.
A number of other hedge funds also recently bought and sold shares of BPL. Aevitas Wealth Management Inc. purchased a new position in Buckeye Partners during the 4th quarter valued at about $102,000. Moisand Fitzgerald Tamayo LLC purchased a new position in Buckeye Partners during the 3rd quarter valued at about $114,000. BNP Paribas Arbitrage SA grew its holdings in Buckeye Partners by 315.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock valued at $118,000 after buying an additional 1,575 shares in the last quarter. Haverford Trust Co. purchased a new position in Buckeye Partners during the 4th quarter valued at about $209,000. Finally, Smith Moore & CO. purchased a new position in Buckeye Partners during the 3rd quarter valued at about $211,000. 70.52% of the stock is owned by institutional investors and hedge funds.
Shares of Buckeye Partners, L.P. (NYSE:BPL) traded down $0.81 on Wednesday, reaching $44.76. The company’s stock had a trading volume of 361,208 shares, compared to its average volume of 856,547. The stock has a market capitalization of $6,580.00, a price-to-earnings ratio of 13.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.52 and a current ratio of 0.96. Buckeye Partners, L.P. has a 1-year low of $42.96 and a 1-year high of $69.95.
Buckeye Partners (NYSE:BPL) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.03). Buckeye Partners had a net margin of 13.13% and a return on equity of 10.02%. The company had revenue of $946.05 million during the quarter, compared to the consensus estimate of $905.02 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. equities research analysts anticipate that Buckeye Partners, L.P. will post 3.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 20th were given a $1.2625 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.05 annualized dividend and a yield of 11.28%. This is an increase from Buckeye Partners’s previous quarterly dividend of $1.24. Buckeye Partners’s payout ratio is presently 151.20%.
A number of research analysts have weighed in on BPL shares. Credit Suisse Group assumed coverage on Buckeye Partners in a report on Thursday, January 4th. They set an “underperform” rating for the company. SunTrust Banks set a $58.00 price objective on Buckeye Partners and gave the stock a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research raised Buckeye Partners from a “strong sell” rating to a “hold” rating in a report on Monday, February 5th. Bank of America assumed coverage on Buckeye Partners in a report on Tuesday, January 9th. They set a “neutral” rating for the company. Finally, Barclays boosted their price objective on Buckeye Partners from $56.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $59.67.
In other Buckeye Partners news, Director Pieter Bakker sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $46.05, for a total value of $92,100.00. Following the completion of the sale, the director now owns 19,552 shares in the company, valued at $900,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph Sauger sold 11,013 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $43.92, for a total value of $483,690.96. Following the completion of the sale, the senior vice president now owns 27,416 shares of the company’s stock, valued at approximately $1,204,110.72. The disclosure for this sale can be found here. Insiders sold 13,361 shares of company stock valued at $592,488 in the last quarter. Corporate insiders own 0.42% of the company’s stock.
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Buckeye Partners 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, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.
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