Several brokerages have updated their recommendations and price targets on shares of Buckeye Partners (NYSE: BPL) in the last few weeks:

  • 2/11/2018 – Buckeye Partners was given a new $56.00 price target on by analysts at Stifel Nicolaus. They now have a “buy” rating on the stock.
  • 2/9/2018 – Buckeye Partners was given a new $55.00 price target on by analysts at Mizuho. They now have a “hold” rating on the stock.
  • 2/5/2018 – Buckeye Partners was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “In last one month, the partnership units have outrperformed the industry. Buckeye Partners has an attractive portfolio of refined petroleum-product transportation and storage assets in key geographical markets. Strategic VTTI acquisitions and organic growth projects will drive the partnership’s performance in the domestic as well as international arena.Adverse weather conditions adversely impacted operations of the partnership. Intensifying competition and stringent government regulations are persistent headwinds for Buckeye Partners. The partnership depends on its operating subsidiaries to service debt obligations and pay cash distributions to its unitholders. Rising debt expenses are a matter of great concern for the partnership.”
  • 1/26/2018 – Buckeye Partners had its price target raised by analysts at Barclays PLC from $56.00 to $58.00. They now have an “equal weight” rating on the stock.
  • 1/9/2018 – Buckeye Partners is now covered by analysts at Bank of America Corp. They set a “neutral” rating on the stock.
  • 1/4/2018 – Buckeye Partners is now covered by analysts at Credit Suisse Group AG. They set an “underperform” rating on the stock.
  • 12/19/2017 – Buckeye Partners was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “In the last three months, the partnership units have underperformed the industry.  Adverse weather conditions adversely impacted operations of the partnership. Intensifying competition and stringent government regulations are persistent headwinds for Buckeye Partners. The partnership depends on its operating subsidiaries to service debt obligations and pay cash distributions to its unitholders. Rising debt expenses are a matter of great concern for the partnership. Buckeye Partners has an attractive portfolio of refined petroleum-product transportation and storage assets in key geographical markets. Strategic VTTI acquisitions and organic growth projects will drive the partnership’s performance in the domestic as well as international arena.”

Shares of Buckeye Partners, L.P. (NYSE BPL) opened at $49.95 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.64 and a debt-to-equity ratio of 0.93. Buckeye Partners, L.P. has a 12-month low of $43.90 and a 12-month high of $73.01. The stock has a market cap of $7,326.54, a price-to-earnings ratio of 14.96 and a beta of 1.03.

Buckeye Partners (NYSE:BPL) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.03). Buckeye Partners had a return on equity of 10.09% and a net margin of 13.13%. The company had revenue of $946.05 million for the quarter, compared to the consensus estimate of $905.02 million. During the same period in the prior year, the company earned $0.78 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. research analysts expect that Buckeye Partners, L.P. will post 3.54 EPS for the current fiscal year.

The business also recently disclosed a dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 20th will be given a dividend of $1.2625 per share. This is an increase from Buckeye Partners’s previous dividend of $1.24. The ex-dividend date is Friday, February 16th. This represents a dividend yield of 0.0252752752752753%. Buckeye Partners’s dividend payout ratio is currently 151.20%.

In other news, SVP Joseph Sauger sold 5,481 shares of the stock in a transaction on Monday, December 4th. The shares were sold at an average price of $47.04, for a total transaction of $257,826.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.42% of the stock is owned by corporate insiders.

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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