Shares of Buckeye Partners L.P. (NYSE:BPL) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $73.40.

Several research analysts have weighed in on BPL shares. Stifel Nicolaus upgraded 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 research note on Monday, May 8th. They noted that the move was a valuation call. BidaskClub upgraded shares of Buckeye Partners L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered shares of Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Credit Suisse Group set a $74.00 price objective on shares of Buckeye Partners L.P. and gave the company a “hold” rating in a research note on Monday, August 7th. Finally, Barclays PLC dropped 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 research note on Monday, August 7th.

Shares of Buckeye Partners L.P. (BPL) traded up 2.90% during trading on Friday, hitting $57.19. 490,571 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $60.17 and its 200 day moving average is $64.86. Buckeye Partners L.P. has a 1-year low of $54.33 and a 1-year high of $73.01. The firm has a market capitalization of $8.08 billion, a PE ratio of 15.82 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 for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.20. The company had revenue of $810.20 million during the quarter, compared to analyst estimates of $797.47 million. Buckeye Partners L.P. had a net margin of 14.42% and a return on equity of 11.04%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 EPS. On average, equities research analysts forecast that Buckeye Partners L.P. will post $3.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 14th were paid 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 was Thursday, August 10th. This represents a $5.05 annualized dividend and a dividend yield of 8.83%. Buckeye Partners L.P.’s dividend payout ratio is 138.36%.

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In other Buckeye Partners L.P. news, Director Barbara J. Duganier purchased 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 purchase, the director now directly owns 9,000 shares in the company, valued at approximately $523,710. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BPL. First Manhattan Co. raised its position in shares of Buckeye Partners L.P. by 3.7% in the first quarter. First Manhattan Co. now owns 77,085 shares of the pipeline company’s stock valued at $5,519,000 after buying an additional 2,750 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Buckeye Partners L.P. by 4.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 158,000 shares of the pipeline company’s stock valued at $10,832,000 after buying an additional 7,400 shares during the period. BB&T Corp raised its position in shares of Buckeye Partners L.P. by 5.7% in the first quarter. BB&T Corp now owns 18,597 shares of the pipeline company’s stock valued at $1,275,000 after buying an additional 1,000 shares during the period. Linscomb & Williams Inc. raised its position in shares of Buckeye Partners L.P. by 0.6% in the first quarter. Linscomb & Williams Inc. now owns 12,604 shares of the pipeline company’s stock valued at $864,000 after buying an additional 78 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Buckeye Partners L.P. by 8.4% in the first quarter. Jennison Associates LLC now owns 236,942 shares of the pipeline company’s stock valued at $16,245,000 after buying an additional 18,262 shares during the period. Institutional investors own 68.86% of the company’s stock.

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.

Analyst Recommendations for Buckeye Partners L.P. (NYSE:BPL)

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