Blair William & Co. IL lessened its position in Buckeye Partners, L.P. (NYSE:BPL) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,009 shares of the pipeline company’s stock after selling 4,993 shares during the period. Blair William & Co. IL’s holdings in Buckeye Partners were worth $1,893,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Poehling Capital Management LLC acquired a new stake in shares of Buckeye Partners during the 2nd quarter worth about $105,000. Sun Life Financial INC lifted its stake in shares of Buckeye Partners by 2,566.7% during the 2nd quarter. Sun Life Financial INC now owns 4,000 shares of the pipeline company’s stock worth $141,000 after buying an additional 3,850 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Buckeye Partners by 3,747.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 167,229 shares of the pipeline company’s stock worth $142,000 after buying an additional 162,883 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Buckeye Partners during the 3rd quarter worth about $143,000. Finally, Adviser Investments LLC acquired a new stake in shares of Buckeye Partners during the 2nd quarter worth about $155,000. 76.22% of the stock is owned by institutional investors.

BPL has been the subject of several analyst reports. Zacks Investment Research cut shares of Buckeye Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Guggenheim reissued a “hold” rating and issued a $38.00 target price on shares of Buckeye Partners in a report on Monday, November 5th. Credit Suisse Group began coverage on shares of Buckeye Partners in a report on Thursday, October 11th. They issued a “neutral” rating and a $35.00 target price on the stock. SunTrust Banks raised shares of Buckeye Partners from a “sell” rating to a “hold” rating in a report on Friday, November 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $38.00 target price on shares of Buckeye Partners in a report on Tuesday, November 6th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the stock. Buckeye Partners presently has an average rating of “Hold” and an average price target of $42.08.

BPL stock opened at $29.38 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.63 and a current ratio of 0.96. Buckeye Partners, L.P. has a 12 month low of $28.03 and a 12 month high of $57.19. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 10.57 and a beta of 1.23.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 13th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 10.21%. The ex-dividend date of this dividend was Friday, November 9th. Buckeye Partners’s dividend payout ratio (DPR) is presently 90.36%.

In related news, SVP Todd J. Russo sold 6,800 shares of Buckeye Partners stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $32.25, for a total transaction of $219,300.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.48% of the company’s stock.

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Buckeye Partners Profile

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.

Further Reading: What are Institutional Investors?

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Institutional Ownership by Quarter for Buckeye Partners (NYSE:BPL)

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