Good Life Advisors LLC Has $477,000 Stake in Buckeye Partners L.P. (BPL)
Good Life Advisors LLC decreased its position in Buckeye Partners L.P. (NYSE:BPL) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,419 shares of the pipeline company’s stock after selling 175 shares during the period. Good Life Advisors LLC’s holdings in Buckeye Partners L.P. were worth $477,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of BPL. Ray Gerald L & Associates Ltd. increased its position in Buckeye Partners L.P. by 17.5% in the second quarter. Ray Gerald L & Associates Ltd. now owns 20,161 shares of the pipeline company’s stock worth $1,289,000 after buying an additional 3,000 shares in the last quarter. Evergreen Capital Management LLC increased its position in Buckeye Partners L.P. by 38.4% in the second quarter. Evergreen Capital Management LLC now owns 175,235 shares of the pipeline company’s stock worth $11,203,000 after buying an additional 48,585 shares in the last quarter. Penserra Capital Management LLC increased its position in Buckeye Partners L.P. by 68.5% in the second quarter. Penserra Capital Management LLC now owns 4,326 shares of the pipeline company’s stock worth $275,000 after buying an additional 1,759 shares in the last quarter. Usca Ria LLC increased its position in Buckeye Partners L.P. by 8.1% in the second quarter. Usca Ria LLC now owns 5,355 shares of the pipeline company’s stock worth $342,000 after buying an additional 400 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Buckeye Partners L.P. during the second quarter worth about $2,473,000. 68.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Buckeye Partners L.P. (BPL) traded down 0.32% during trading on Wednesday, hitting $55.50. 57,159 shares of the company were exchanged. The stock has a market capitalization of $7.84 billion, a PE ratio of 15.35 and a beta of 1.11. The company has a 50 day moving average of $61.06 and a 200-day moving average of $65.30. Buckeye Partners L.P. has a 1-year low of $54.33 and a 1-year high of $73.01.
Buckeye Partners L.P. (NYSE:BPL) last issued its earnings results on Friday, August 4th. The pipeline company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by $0.20. Buckeye Partners L.P. had a return on equity of 11.04% and a net margin of 14.42%. The company had revenue of $810.20 million during the quarter, compared to analysts’ expectations of $797.47 million. During the same quarter in the previous year, the company earned $1.07 EPS. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Buckeye Partners L.P. will post $3.58 earnings per share for the current year.
The business 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 an increase from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. The ex-dividend date was Thursday, August 10th. This represents a $5.05 dividend on an annualized basis and a dividend yield of 9.07%. Buckeye Partners L.P.’s dividend payout ratio is presently 138.36%.
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A number of equities analysts have issued reports on the stock. Barclays PLC cut their price objective on shares of Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report on Monday, August 7th. Credit Suisse Group set a $74.00 price objective on shares of Buckeye Partners L.P. and gave the stock a “hold” rating in a report on Monday, August 7th. BidaskClub downgraded shares of Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research downgraded shares of Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Stifel Nicolaus raised shares of Buckeye Partners L.P. from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Buckeye Partners L.P. currently has an average rating of “Hold” and an average price target of $73.36.
In related news, Director Barbara J. Duganier bought 1,000 shares of the stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of $58.19 per share, for a total transaction of $58,190.00. Following the completion of the purchase, the director now directly owns 9,000 shares of the company’s stock, valued at $523,710. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.42% of the stock is owned by corporate insiders.
About Buckeye Partners L.P.
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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