Atlantic Trust Group LLC trimmed its position in shares of Buckeye Partners L.P. (NYSE:BPL) by 12.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,651,341 shares of the pipeline company’s stock after selling 384,777 shares during the quarter. Buckeye Partners L.P. accounts for approximately 1.1% of Atlantic Trust Group LLC’s portfolio, making the stock its 24th largest holding. Atlantic Trust Group LLC owned about 1.89% of Buckeye Partners L.P. worth $169,500,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of BPL. BB&T Corp increased its stake in shares of Buckeye Partners L.P. by 5.7% during the first quarter. BB&T Corp now owns 18,597 shares of the pipeline company’s stock worth $1,275,000 after acquiring an additional 1,000 shares during the period. Jennison Associates LLC increased its stake in shares of Buckeye Partners L.P. by 8.4% during the first quarter. Jennison Associates LLC now owns 236,942 shares of the pipeline company’s stock worth $16,245,000 after acquiring an additional 18,262 shares during the period. Advisory Services Network LLC acquired a new position in shares of Buckeye Partners L.P. during the first quarter worth about $185,000. First Trust Advisors LP increased its stake in shares of Buckeye Partners L.P. by 81.1% during the first quarter. First Trust Advisors LP now owns 238,387 shares of the pipeline company’s stock worth $16,344,000 after acquiring an additional 106,743 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Buckeye Partners L.P. by 3.4% during 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 acquiring an additional 1,491 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

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In related news, Director Barbara J. Duganier bought 1,000 shares of the stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $58.19 per share, with a total value of $58,190.00. Following the purchase, the director now owns 9,000 shares in the company, valued at $523,710. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Buckeye Partners L.P. (NYSE BPL) traded down 0.14% during mid-day trading on Monday, reaching $57.11. 351,481 shares of the company were exchanged. The company’s 50 day moving average price is $59.98 and its 200-day moving average price is $64.75. Buckeye Partners L.P. has a 12 month low of $54.33 and a 12 month high of $73.01. The stock has a market capitalization of $8.07 billion, a P/E ratio of 15.79 and a beta of 1.14.

Buckeye Partners L.P. (NYSE:BPL) last released its earnings results on Friday, August 4th. The pipeline company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.20. The company had revenue of $810.20 million for 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. On average, equities analysts expect that Buckeye Partners L.P. will post $3.58 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 14th were paid a dividend of $1.2625 per share. This is a boost 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 yield of 8.84%. Buckeye Partners L.P.’s dividend payout ratio (DPR) is presently 138.36%.

BPL has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. 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. Barclays PLC dropped their price target 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. Credit Suisse Group set a $74.00 price target on shares of Buckeye Partners L.P. and gave the stock a “hold” rating in a research note on Monday, August 7th. Finally, Stifel Nicolaus upgraded shares of 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 note on Monday, May 8th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Buckeye Partners L.P. has an average rating of “Hold” and a consensus target price of $73.36.

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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