GenTrust LLC continued to hold its stake in shares of Buckeye Partners L.P. (NYSE:BPL) during the second quarter, according to its most recent filing with the SEC. The fund owned 7,841 shares of the pipeline company’s stock at the end of the second quarter. GenTrust LLC’s holdings in Buckeye Partners L.P. were worth $501,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in BPL. Tortoise Capital Advisors L.L.C. increased its position in shares of Buckeye Partners L.P. by 4.8% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 10,633,690 shares of the pipeline company’s stock valued at $679,812,000 after buying an additional 482,248 shares during the period. Bank of Montreal Can increased its position in shares of Buckeye Partners L.P. by 35.8% in the second quarter. Bank of Montreal Can now owns 1,636,442 shares of the pipeline company’s stock valued at $104,618,000 after buying an additional 431,040 shares during the period. Chickasaw Capital Management LLC increased its position in shares of Buckeye Partners L.P. by 15.2% in the first quarter. Chickasaw Capital Management LLC now owns 3,189,567 shares of the pipeline company’s stock valued at $218,677,000 after buying an additional 420,068 shares during the period. Infrastructure Capital Advisors LLC increased its position in shares of Buckeye Partners L.P. by 103.8% in the first quarter. Infrastructure Capital Advisors LLC now owns 472,652 shares of the pipeline company’s stock valued at $32,405,000 after buying an additional 240,709 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Buckeye Partners L.P. by 6.6% in the first quarter. Bank of America Corp DE now owns 3,471,008 shares of the pipeline company’s stock valued at $237,973,000 after buying an additional 213,555 shares during the period. 70.49% of the stock is currently owned by hedge funds and other institutional investors.

Buckeye Partners L.P. (NYSE BPL) traded down 0.98% during mid-day trading on Friday, reaching $55.68. The company had a trading volume of 547,412 shares. Buckeye Partners L.P. has a 12 month low of $55.30 and a 12 month high of $73.01. The firm’s 50 day moving average price is $62.28 and its 200-day moving average price is $65.86. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of 15.40 and a beta of 1.11.

Buckeye Partners L.P. (NYSE:BPL) last released its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.20. Buckeye Partners L.P. had a net margin of 14.42% and a return on equity of 11.04%. The business had revenue of $810.20 million during the quarter, compared to analyst estimates of $797.47 million. During the same period in the previous year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts anticipate that Buckeye Partners L.P. will post $3.65 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 14th will be given a dividend of $1.2625 per share. This is a positive change from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. The ex-dividend date is Thursday, August 10th. This represents a $5.05 dividend on an annualized basis and a yield of 9.07%. Buckeye Partners L.P.’s payout ratio is currently 138.36%.

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BPL has been the topic of several research analyst reports. Stifel Nicolaus raised Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Monday, May 8th. They noted that the move was a valuation call. BidaskClub upgraded Buckeye Partners L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Credit Suisse Group set a $74.00 price objective on Buckeye Partners L.P. and gave the stock a “hold” rating in a research note on Monday, August 7th. Zacks Investment Research cut Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Barclays PLC decreased their price objective on Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Buckeye Partners L.P. presently has an average rating of “Hold” and a consensus target price of $73.36.

In other news, SVP Todd J. Russo sold 3,280 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $67.00, for a total transaction of $219,760.00. Following the transaction, the senior vice president now owns 14,106 shares in the company, valued at approximately $945,102. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Barbara J. Duganier acquired 1,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $58.19 per share, for a total transaction of $58,190.00. Following the acquisition, the director now owns 9,000 shares in the company, valued at approximately $523,710. The disclosure for this purchase can be found here. 0.42% of the stock is owned by insiders.

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, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

Institutional Ownership by Quarter for Buckeye Partners L.P. (NYSE:BPL)

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