Buckeye Partners, L.P. (NYSE:BPL) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,223,708 shares, a decline of 55.1% from the October 14th total of 2,726,804 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average trading volume of 869,244 shares, the days-to-cover ratio is currently 1.4 days.

BPL has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on shares of Buckeye Partners, L.P. from $78.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, October 26th. Goldman Sachs Group Inc. initiated coverage on shares of Buckeye Partners, L.P. in a research report on Thursday, August 25th. They issued a “neutral” rating and a $78.00 price objective on the stock. Mizuho lowered their price objective on shares of Buckeye Partners, L.P. from $76.00 to $70.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Zacks Investment Research upgraded shares of Buckeye Partners, L.P. from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Monday, July 25th. Finally, US Capital Advisors upgraded shares of Buckeye Partners, L.P. from a “hold” rating to a “buy” rating in a research report on Thursday, September 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $73.10.

Shares of Buckeye Partners, L.P. (NYSE:BPL) opened at 64.50 on Friday. Buckeye Partners, L.P. has a 12 month low of $47.07 and a 12 month high of $75.10. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 15.01 and a beta of 0.95. The firm’s 50 day moving average is $67.43 and its 200 day moving average is $70.10.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 15th will be given a dividend of $1.225 per share. This is a positive change from Buckeye Partners, L.P.’s previous quarterly dividend of $1.21. This represents a $4.90 annualized dividend and a dividend yield of 7.60%. The ex-dividend date of this dividend is Thursday, November 10th.

In other Buckeye Partners, L.P. news, Director Pieter Bakker bought 3,500 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were acquired at an average cost of $70.25 per share, with a total value of $245,875.00. Following the acquisition, the director now directly owns 17,552 shares of the company’s stock, valued at approximately $1,233,028. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several large investors have recently bought and sold shares of BPL. FineMark National Bank & Trust raised 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. Cypress Capital Management LLC WY raised its stake in shares of Buckeye Partners, L.P. by 25.0% in the third quarter. Cypress Capital Management LLC WY now owns 1,500 shares of the company’s stock valued at $107,000 after buying an additional 300 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Buckeye Partners, L.P. by 149.4% in the third quarter. Penserra Capital Management LLC now owns 1,544 shares of the company’s stock valued at $110,000 after buying an additional 925 shares in the last quarter. Oakworth Capital Inc. bought a new stake in shares of Buckeye Partners, L.P. during the second quarter valued at $116,000. Finally, Kings Point Capital Management raised its stake in shares of Buckeye Partners, L.P. by 205.6% in the third quarter. Kings Point Capital Management now owns 2,081 shares of the company’s stock valued at $149,000 after buying an additional 1,400 shares in the last quarter.

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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