Stifel Nicolaus cut shares of Buckeye Partners (NYSE:BPL) from a buy rating to a hold rating in a research report report published on Monday morning, 24/7 WallStreet reports. Stifel Nicolaus currently has $41.50 target price on the pipeline company’s stock, up from their prior target price of $34.00.

Several other analysts also recently commented on the stock. Mizuho set a $42.00 target price on shares of Buckeye Partners and gave the stock a hold rating in a report on Friday, May 10th. Zacks Investment Research upgraded shares of Buckeye Partners from a sell rating to a hold rating in a report on Wednesday, May 8th. ValuEngine upgraded shares of Buckeye Partners from a sell rating to a hold rating in a report on Wednesday, May 1st. UBS Group downgraded shares of Buckeye Partners from a buy rating to a neutral rating and set a $33.25 price objective on the stock. in a report on Friday, March 8th. Finally, Barclays reiterated a buy rating and issued a $38.00 price objective on shares of Buckeye Partners in a report on Tuesday, February 19th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. Buckeye Partners presently has an average rating of Hold and a consensus price target of $39.79.

Shares of BPL stock opened at $41.80 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.28 and a current ratio of 0.92. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 23.35 and a beta of 1.09. Buckeye Partners has a 52 week low of $25.71 and a 52 week high of $42.65.

Buckeye Partners (NYSE:BPL) last announced its earnings results on Friday, May 10th. The pipeline company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.07). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.13 billion. Buckeye Partners had a positive return on equity of 9.46% and a negative net margin of 2.29%. The business’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. On average, analysts forecast that Buckeye Partners will post 2.45 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 20th will be issued a $0.75 dividend. The ex-dividend date is Friday, May 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.18%. Buckeye Partners’s dividend payout ratio (DPR) is presently 167.60%.

In other news, VP Gary L. Bohnsack sold 2,500 shares of Buckeye Partners stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $41.73, for a total value of $104,325.00. Following the sale, the vice president now directly owns 422 shares in the company, valued at $17,610.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BPL. Harvest Fund Advisors LLC increased its holdings in Buckeye Partners by 97.4% during the fourth quarter. Harvest Fund Advisors LLC now owns 5,572,816 shares of the pipeline company’s stock worth $161,556,000 after buying an additional 2,749,735 shares during the last quarter. Alps Advisors Inc. increased its holdings in Buckeye Partners by 12.6% during the fourth quarter. Alps Advisors Inc. now owns 14,531,387 shares of the pipeline company’s stock worth $421,265,000 after buying an additional 1,626,804 shares during the last quarter. Bank of Montreal Can increased its holdings in Buckeye Partners by 97.9% during the fourth quarter. Bank of Montreal Can now owns 2,145,556 shares of the pipeline company’s stock worth $62,199,000 after buying an additional 1,061,307 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in Buckeye Partners by 6.5% during the first quarter. OppenheimerFunds Inc. now owns 15,054,028 shares of the pipeline company’s stock worth $512,138,000 after buying an additional 922,274 shares during the last quarter. Finally, Eagle Global Advisors LLC acquired a new position in Buckeye Partners during the first quarter worth $22,206,000. Institutional investors and hedge funds own 69.33% of the company’s stock.

Buckeye Partners Company 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.

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Analyst Recommendations for Buckeye Partners (NYSE:BPL)

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