Shares of Buckeye Partners, L.P. (NYSE:BPL) have received a consensus recommendation of “Buy” from the eleven ratings firms that are covering the stock. Four research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $73.67.

A number of equities research analysts have weighed in on BPL shares. Goldman Sachs Group Inc. upgraded shares of Buckeye Partners, L.P. from a “neutral” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Monday, September 19th. 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. Zacks Investment Research upgraded shares of Buckeye Partners, L.P. from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, July 25th. Credit Suisse Group AG started coverage on shares of Buckeye Partners, L.P. in a research note on Wednesday. They set a “neutral” rating and a $78.00 price target on the stock. Finally, Mizuho started coverage on shares of Buckeye Partners, L.P. in a research note on Thursday, September 29th. They set a “neutral” rating and a $76.00 price target on the stock.

Buckeye Partners, L.P. (NYSE:BPL) opened at 68.94 on Thursday. Buckeye Partners, L.P. has a 12 month low of $47.07 and a 12 month high of $75.10. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 17.72 and a beta of 0.95. The company has a 50-day moving average of $70.01 and a 200-day moving average of $70.50.

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

In related news, SVP Khalid A. Muslih sold 7,500 shares of Buckeye Partners, L.P. stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $75.00, for a total value of $562,500.00. Following the completion of the transaction, the senior vice president now directly owns 23,177 shares of the company’s stock, valued at $1,738,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pieter Bakker purchased 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was acquired at an average cost of $70.25 per share, with a total value of $245,875.00. Following the completion of the acquisition, the director now directly owns 17,552 shares of the company’s stock, valued at $1,233,028. The disclosure for this purchase can be found here.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spirit of America Management Corp NY boosted its position in Buckeye Partners, L.P. by 7.8% in the third quarter. Spirit of America Management Corp NY now owns 186,865 shares of the company’s stock worth $13,379,000 after buying an additional 13,600 shares in the last quarter. Cohen Capital Management Inc. boosted its stake in shares of Buckeye Partners, L.P. by 2.1% in the third quarter. Cohen Capital Management Inc. now owns 86,334 shares of the company’s stock valued at $6,182,000 after buying an additional 1,750 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Buckeye Partners, L.P. during the third quarter valued at $687,000. Naples Global Advisors LLC boosted its stake in shares of Buckeye Partners, L.P. by 4.3% in the third quarter. Naples Global Advisors LLC now owns 6,100 shares of the company’s stock valued at $437,000 after buying an additional 250 shares in the last quarter. Finally, Searle & CO. purchased a new stake in shares of Buckeye Partners, L.P. during the third quarter valued at $1,804,000.

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

Receive News & Stock Ratings for Buckeye Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners L.P. and related stocks with our FREE daily email newsletter.