Buckeye Partners (NYSE:BPL) has been given a $56.00 price target by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Sunday, Marketbeat reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.52% from the stock’s current price.

Other research analysts also recently issued reports about the company. Zacks Investment Research raised Buckeye Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, February 5th. Mizuho set a $55.00 target price on Buckeye Partners and gave the stock a “hold” rating in a research note on Friday. UBS Group reduced their target price on Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. SunTrust Banks set a $58.00 target price on Buckeye Partners and gave the stock a “hold” rating in a research note on Tuesday, November 14th. Finally, Bank of America assumed coverage on Buckeye Partners in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.36.

Buckeye Partners (NYSE:BPL) opened at $51.13 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.64 and a current ratio of 1.10. The firm has a market capitalization of $7,500.00, a P/E ratio of 15.68 and a beta of 1.03. Buckeye Partners has a 52 week low of $43.90 and a 52 week high of $73.01.

Buckeye Partners (NYSE:BPL) last announced its earnings results 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). The business had revenue of $946.05 million for the quarter, compared to analyst estimates of $905.02 million. Buckeye Partners had a return on equity of 10.09% and a net margin of 13.13%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. research analysts anticipate that Buckeye Partners will post 3.54 earnings per share for the current year.

In related news, SVP Joseph Sauger sold 5,481 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $47.04, for a total transaction of $257,826.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of BPL. Hudock Capital Group LLC grew its holdings in Buckeye Partners by 1,564.7% in the 3rd quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock valued at $110,000 after buying an additional 1,815 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in Buckeye Partners in the 3rd quarter valued at $114,000. BNP Paribas Arbitrage SA grew its holdings in Buckeye Partners by 315.0% in 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. Advisory Services Network LLC grew its holdings in Buckeye Partners by 7.4% in the 2nd quarter. Advisory Services Network LLC now owns 2,900 shares of the pipeline company’s stock valued at $185,000 after buying an additional 200 shares in the last quarter. Finally, Smith Moore & CO. purchased a new stake in Buckeye Partners in the 3rd quarter valued at $211,000. Hedge funds and other institutional investors own 70.52% of the company’s stock.

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About Buckeye Partners

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.

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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