Credit Suisse Group AG initiated coverage on shares of Buckeye Partners, L.P. (NYSE:BPL) in a research report report published on Wednesday morning. The brokerage issued a neutral rating and a $78.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Buckeye Partners, L.P. from a hold rating to a sell rating in a research note on Tuesday, July 12th. US Capital Advisors upgraded shares of Buckeye Partners, L.P. from a hold rating to a buy rating in a research note on Thursday, September 8th. Mizuho began coverage on shares of Buckeye Partners, L.P. in a research note on Thursday, September 29th. They issued a neutral rating and a $76.00 target price for the company. Finally, Goldman Sachs Group Inc. began coverage on shares of Buckeye Partners, L.P. in a research note on Thursday, August 25th. They issued a neutral rating and a $78.00 target price for the company. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $73.90.

Buckeye Partners, L.P. (NYSE:BPL) traded down 1.07% during mid-day trading on Wednesday, hitting $69.22. 20,586 shares of the stock were exchanged. The company has a 50-day moving average price of $70.02 and a 200-day moving average price of $70.47. The company has a market cap of $9.07 billion, a P/E ratio of 17.79 and a beta of 0.95. Buckeye Partners, L.P. has a one year low of $47.07 and a one year high of $75.10.

Buckeye Partners, L.P. (NYSE:BPL) last issued its quarterly earnings data on Friday, August 5th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.11. The business had revenue of $777.12 million for the quarter, compared to analysts’ expectations of $759.98 million. During the same period in the previous year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts forecast that Buckeye Partners, L.P. will post $0.01 earnings per share for the current fiscal year.

In related news, Director Pieter Bakker bought 3,500 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The stock was purchased at an average cost of $70.25 per share, for a total transaction of $245,875.00. Following the completion of the acquisition, the director now owns 17,552 shares in the company, valued at $1,233,028. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clark C. Smith sold 910 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $75.02, for a total transaction of $68,268.20. Following the completion of the sale, the chief executive officer now owns 59,273 shares of the company’s stock, valued at $4,446,660.46. The disclosure for this sale can be found here.

A number of large investors have recently added to or reduced their stakes in the company. FineMark National Bank & Trust increased its stake in Buckeye Partners, L.P. by 255.5% in the second quarter. FineMark National Bank & Trust now owns 1,422 shares of the company’s stock valued at $100,000 after buying an additional 1,022 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in Buckeye Partners, L.P. during the second quarter valued at about $116,000. Joel Isaacson & Co. LLC increased its stake in Buckeye Partners, L.P. by 1,263.2% in the second quarter. Joel Isaacson & Co. LLC now owns 2,590 shares of the company’s stock valued at $182,000 after buying an additional 2,400 shares in the last quarter. Burke & Herbert Bank & Trust Co. acquired a new stake in Buckeye Partners, L.P. during the third quarter valued at about $200,000. Finally, Telemus Capital LLC acquired a new stake in Buckeye Partners, L.P. during the second quarter valued at about $201,000.

Buckeye Partners, L.P. Company Profile

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. The Company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

5 Day Chart for NYSE:BPL

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