Royal Bank of Canada restated their hold rating on shares of Buckeye Partners (NYSE:BPL) in a report issued on Tuesday. The firm currently has a $38.00 price target on the pipeline company’s stock.

BPL has been the topic of a number of other research reports. Bank of America increased their price target on Buckeye Partners from $37.00 to $38.00 and gave the stock a neutral rating in a research report on Monday, November 5th. Stifel Nicolaus lowered their price target on Buckeye Partners from $45.00 to $43.00 and set a buy rating on the stock in a research report on Monday, August 6th. Barclays lowered their price target on Buckeye Partners from $43.00 to $37.00 and set an equal weight rating on the stock in a research report on Wednesday, July 11th. SunTrust Banks downgraded Buckeye Partners from a hold rating to a sell rating and set a $72.00 price target on the stock. in a research report on Monday, July 23rd. Finally, Zacks Investment Research upgraded Buckeye Partners from a sell rating to a hold rating in a research report on Tuesday, August 28th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $42.38.

Shares of BPL stock opened at $32.41 on Tuesday. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 12.00 and a beta of 1.25. The company has a current ratio of 0.96, a quick ratio of 0.70 and a debt-to-equity ratio of 1.29. Buckeye Partners has a 12-month low of $31.29 and a 12-month high of $57.19.

Buckeye Partners (NYSE:BPL) last issued its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.11). The business had revenue of $909.55 million for the quarter, compared to analysts’ expectations of $921.74 million. Buckeye Partners had a positive return on equity of 8.98% and a negative net margin of 10.43%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.81 EPS. On average, research analysts predict that Buckeye Partners will post 0.69 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 13th will be given a $0.75 dividend. The ex-dividend date is Friday, November 9th. This represents a $3.00 annualized dividend and a dividend yield of 9.26%. Buckeye Partners’s dividend payout ratio (DPR) is presently 152.11%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Poehling Capital Management LLC purchased a new position in shares of Buckeye Partners in the second quarter valued at approximately $105,000. Sun Life Financial INC lifted its position in shares of Buckeye Partners by 2,566.7% in the second quarter. Sun Life Financial INC now owns 4,000 shares of the pipeline company’s stock valued at $141,000 after acquiring an additional 3,850 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of Buckeye Partners in the third quarter valued at approximately $143,000. Adviser Investments LLC purchased a new position in shares of Buckeye Partners in the second quarter valued at approximately $155,000. Finally, Girard Partners LTD. purchased a new position in shares of Buckeye Partners in the third quarter valued at approximately $163,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

About Buckeye Partners

Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates; refined petroleum products; and crude oil.

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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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