Buckeye Partners L.P. (BPL) Shares Sold by Stifel Financial Corp
Stifel Financial Corp decreased its holdings in shares of Buckeye Partners L.P. (NYSE:BPL) by 48.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,893 shares of the pipeline company’s stock after selling 160,652 shares during the quarter. Stifel Financial Corp owned 0.12% of Buckeye Partners L.P. worth $11,055,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. MCF Advisors LLC lifted its stake in shares of Buckeye Partners L.P. by 1.9% in the 2nd quarter. MCF Advisors LLC now owns 2,508 shares of the pipeline company’s stock valued at $160,000 after acquiring an additional 46 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its holdings in shares of Buckeye Partners L.P. by 1.1% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 4,490 shares of the pipeline company’s stock valued at $287,000 after acquiring an additional 50 shares in the last quarter. Private Trust Co. NA grew its position in Buckeye Partners L.P. by 1.7% during the 2nd quarter. Private Trust Co. NA now owns 3,565 shares of the pipeline company’s stock worth $227,000 after acquiring an additional 60 shares during the last quarter. Comerica Bank grew its position in Buckeye Partners L.P. by 2.9% during the 2nd quarter. Comerica Bank now owns 4,207 shares of the pipeline company’s stock worth $267,000 after acquiring an additional 117 shares during the last quarter. Finally, Valley National Advisers Inc. grew its position in Buckeye Partners L.P. by 11.5% during the 1st quarter. Valley National Advisers Inc. now owns 1,649 shares of the pipeline company’s stock worth $113,000 after acquiring an additional 170 shares during the last quarter. 68.84% of the stock is owned by hedge funds and other institutional investors.
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Shares of Buckeye Partners L.P. (BPL) opened at 57.69 on Tuesday. The firm has a 50 day moving average price of $56.28 and a 200-day moving average price of $62.89. Buckeye Partners L.P. has a 52-week low of $54.33 and a 52-week high of $73.01. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 15.95 and a beta of 1.16.
Buckeye Partners L.P. (NYSE:BPL) last announced its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.80 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $797.47 million. During the same period last year, the company posted $1.07 EPS. Buckeye Partners L.P.’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 $3.56 earnings per share for the current year.
In other Buckeye Partners L.P. news, Director Barbara J. Duganier purchased 1,000 shares of the stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of $58.19 per share, with a total value 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 approximately $523,710. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by company insiders.
A number of brokerages have issued reports on BPL. BidaskClub raised Buckeye Partners L.P. from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Zacks Investment Research downgraded Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Credit Suisse Group set a $74.00 price target on Buckeye Partners L.P. and gave the company a “hold” rating in a research note on Monday, August 7th. Barclays PLC cut their price target on 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. Finally, Stifel Nicolaus restated a “buy” rating and set a $69.00 price target on shares of Buckeye Partners L.P. in a report on Sunday, September 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Buckeye Partners L.P. presently has a consensus rating of “Hold” and a consensus price target of $72.36.
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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