Shares of Buckeye Partners, L.P. (NYSE:BPL) have received a consensus rating of “Buy” from the eleven research firms that are currently covering the company. 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 target among brokerages that have covered the stock in the last year is $72.78.

Several research firms recently issued reports on BPL. Zacks Investment Research raised Buckeye Partners, L.P. from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Monday, July 25th. US Capital Advisors raised Buckeye Partners, L.P. from a “hold” rating to a “buy” rating in a research note on Thursday, September 8th. Mizuho cut their price objective on 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. Stifel Nicolaus cut their price objective on 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. Finally, Goldman Sachs Group Inc. assumed coverage on Buckeye Partners, L.P. in a research report on Thursday, August 25th. They set a “neutral” rating and a $78.00 price objective on the stock.

Several institutional investors have recently added to or reduced their stakes in BPL. Brookfield Asset Management Inc. raised its position in shares of Buckeye Partners, L.P. by 8,106.4% in the third quarter. Brookfield Asset Management Inc. now owns 655,690 shares of the company’s stock worth $46,947,000 after buying an additional 647,700 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Buckeye Partners, L.P. by 141.5% in the third quarter. D.A. Davidson & CO. now owns 7,908 shares of the company’s stock worth $566,000 after buying an additional 4,633 shares during the last quarter. LPL Financial LLC raised its position in shares of Buckeye Partners, L.P. by 0.9% in the third quarter. LPL Financial LLC now owns 64,747 shares of the company’s stock worth $4,537,000 after buying an additional 564 shares during the last quarter. Mosaic Family Wealth LLC raised its position in shares of Buckeye Partners, L.P. by 13.4% in the third quarter. Mosaic Family Wealth LLC now owns 11,871 shares of the company’s stock worth $850,000 after buying an additional 1,401 shares during the last quarter. Finally, Credit Suisse AG raised its position in shares of Buckeye Partners, L.P. by 4.8% in the third quarter. Credit Suisse AG now owns 201,139 shares of the company’s stock worth $14,401,000 after buying an additional 9,289 shares during the last quarter.

Buckeye Partners, L.P. (NYSE:BPL) opened at 65.36 on Thursday. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 15.21 and a beta of 0.95. The stock has a 50 day moving average price of $67.07 and a 200 day moving average price of $70.01. Buckeye Partners, L.P. has a 12-month low of $47.07 and a 12-month high of $75.10.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 15th will be issued a dividend of $1.225 per share. This represents a $4.90 annualized dividend and a dividend yield of 7.50%. This is a positive change from Buckeye Partners, L.P.’s previous quarterly dividend of $1.21. The ex-dividend date of this dividend is Thursday, November 10th.

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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