Ray Gerald L & Associates Ltd. increased its stake in shares of Buckeye Partners L.P. (NYSE:BPL) by 17.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,161 shares of the pipeline company’s stock after buying an additional 3,000 shares during the period. Ray Gerald L & Associates Ltd.’s holdings in Buckeye Partners L.P. were worth $1,289,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in BPL. Wade G W & Inc. raised its position in shares of Buckeye Partners L.P. by 23.8% in the first quarter. Wade G W & Inc. now owns 21,279 shares of the pipeline company’s stock worth $1,459,000 after buying an additional 4,089 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Buckeye Partners L.P. during the first quarter worth about $256,000. Suntrust Banks Inc. raised its position in shares of Buckeye Partners L.P. by 1.3% in the first quarter. Suntrust Banks Inc. now owns 8,613 shares of the pipeline company’s stock worth $589,000 after buying an additional 107 shares during the period. Bank of New York Mellon Corp raised its position in shares of Buckeye Partners L.P. by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 44,845 shares of the pipeline company’s stock worth $3,075,000 after buying an additional 1,491 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its position in shares of Buckeye Partners L.P. by 9.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 6,862 shares of the pipeline company’s stock worth $470,000 after buying an additional 566 shares during the period. Institutional investors own 68.86% of the company’s stock.

Shares of Buckeye Partners L.P. (NYSE:BPL) opened at 55.68 on Wednesday. The firm has a market capitalization of $7.86 billion, a P/E ratio of 15.40 and a beta of 1.11. The company’s 50 day moving average price is $61.06 and its 200 day moving average price is $65.30. Buckeye Partners L.P. has a one year low of $54.33 and a one year high of $73.01.

Buckeye Partners L.P. (NYSE:BPL) last released its quarterly earnings results on Friday, August 4th. The pipeline company reported $0.80 earnings per share for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $797.47 million. During the same period in the prior year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts expect that Buckeye Partners L.P. will post $3.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 14th were paid a $1.2625 dividend. This is a boost from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. This represents a $5.05 annualized dividend and a dividend yield of 9.07%. The ex-dividend date of this dividend was Thursday, August 10th. Buckeye Partners L.P.’s dividend payout ratio (DPR) is 138.36%.

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A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Monday, May 8th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub lowered shares of Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Credit Suisse Group set a $74.00 target price on shares of Buckeye Partners L.P. and gave the stock a “hold” rating in a research report on Monday, August 7th. Finally, Barclays PLC lowered their target price on shares of Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.36.

In other news, Director Barbara J. Duganier bought 1,000 shares of the stock in a transaction dated Monday, August 14th. The stock was bought at an average cost of $58.19 per share, with a total value of $58,190.00. Following the purchase, the director now owns 9,000 shares of the company’s stock, valued at $523,710. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.42% of the stock is currently owned by company 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.

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

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