Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Buckeye Partners L.P. (BPL) Stock Price
Media headlines about Buckeye Partners L.P. (NYSE:BPL) have trended somewhat positive on Sunday, Accern Sentiment reports. The research group scores the sentiment of media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Buckeye Partners L.P. earned a media sentiment score of 0.15 on Accern’s scale. Accern also assigned media coverage about the pipeline company an impact score of 47.057316756336 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Buckeye says no major damage to Corpus Christi facilities; plant remains shut (finance.yahoo.com)
- Buckeye Partners reports minor flooding at Corpus Christi facility (BPL) – Markets Insider (markets.businessinsider.com)
- Buckeye Partners, L.P. (BPL) Receives Consensus Rating of “Hold” from Brokerages (americanbankingnews.com)
- Forget Frontier Communications Corporation: These 2 High-Yield Partnerships are Better Buys – Madison.com (host.madison.com)
Shares of Buckeye Partners L.P. (BPL) traded up 0.63% on Friday, reaching $55.86. The company had a trading volume of 434,056 shares. The company’s 50-day moving average price is $61.06 and its 200 day moving average price is $65.30. The firm has a market capitalization of $7.89 billion, a P/E ratio of 15.45 and a beta of 1.11. Buckeye Partners L.P. has a 52 week low of $54.33 and a 52 week high of $73.01.
Buckeye Partners L.P. (NYSE:BPL) last issued its earnings results on Friday, August 4th. The pipeline company reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.20. Buckeye Partners L.P. had a net margin of 14.42% and a return on equity of 11.04%. The company had revenue of $810.20 million during the quarter, compared to analyst estimates of $797.47 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. On average, analysts expect that Buckeye Partners L.P. will post $3.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 14th were given a dividend of $1.2625 per share. The ex-dividend date was Thursday, August 10th. This is an increase from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. This represents a $5.05 annualized dividend and a dividend yield of 9.04%. Buckeye Partners L.P.’s payout ratio is currently 138.36%.
Several brokerages have recently issued reports on BPL. Barclays PLC reduced their price objective on Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th. Credit Suisse Group set a $74.00 price objective on Buckeye Partners L.P. and gave the stock a “hold” rating in a research note on Monday, August 7th. BidaskClub cut Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Zacks Investment Research cut Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus upgraded Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Monday, May 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $73.36.
In other Buckeye Partners L.P. news, Director Barbara J. Duganier acquired 1,000 shares of Buckeye Partners L.P. stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $58.19 per share, for a total transaction of $58,190.00. Following the completion of the transaction, the director now owns 9,000 shares in the company, valued at approximately $523,710. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.42% of the company’s stock.
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, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.
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