Buckeye Partners L.P. (NYSE:BPL) saw some unusual options trading activity on Tuesday. Investors purchased 2,101 put options on the stock. This is an increase of 910% compared to the typical daily volume of 208 put options.

Several institutional investors have recently added to or reduced their stakes in BPL. MCF Advisors LLC increased its stake in Buckeye Partners L.P. by 1.9% during the 2nd quarter. MCF Advisors LLC now owns 2,508 shares of the pipeline company’s stock valued at $160,000 after purchasing an additional 46 shares in the last quarter. Linscomb & Williams Inc. increased its stake in Buckeye Partners L.P. by 0.7% during the 2nd quarter. Linscomb & Williams Inc. now owns 12,690 shares of the pipeline company’s stock valued at $811,000 after purchasing an additional 86 shares in the last quarter. Comerica Bank increased its stake 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 valued at $267,000 after purchasing an additional 117 shares in the last quarter. Advisory Services Network LLC increased its stake in Buckeye Partners L.P. by 7.4% during the 2nd quarter. Advisory Services Network LLC now owns 2,900 shares of the pipeline company’s stock valued at $185,000 after purchasing an additional 200 shares in the last quarter. Finally, Signature Financial Management Inc. increased its stake in Buckeye Partners L.P. by 4.9% during the 2nd quarter. Signature Financial Management Inc. now owns 4,775 shares of the pipeline company’s stock valued at $305,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 63.25% of the company’s stock.

Buckeye Partners L.P. (NYSE BPL) opened at $46.71 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.64 and a current ratio of 1.10. Buckeye Partners L.P. has a 1 year low of $45.95 and a 1 year high of $73.01. The stock has a market cap of $6,748.56, a price-to-earnings ratio of 14.07 and a beta of 1.16.

Buckeye Partners L.P. (NYSE:BPL) last released its earnings results on Friday, November 3rd. The pipeline company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.05). Buckeye Partners L.P. had a net margin of 12.69% and a return on equity of 9.72%. The company had revenue of $922.60 million for the quarter, compared to analyst estimates of $795.12 million. During the same quarter in the previous year, the firm earned $1.19 EPS. The firm’s revenue was up 20.3% on a year-over-year basis. research analysts expect that Buckeye Partners L.P. will post 3.4 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Monday, November 13th were given a dividend of $1.2625 per share. This represents a $5.05 dividend on an annualized basis and a dividend yield of 10.81%. The ex-dividend date was Friday, November 10th. This is an increase from Buckeye Partners L.P.’s previous quarterly dividend of $1.24. Buckeye Partners L.P.’s payout ratio is presently 154.43%.

Several brokerages recently issued reports on BPL. Barclays PLC decreased 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 report on Monday, August 7th. BidaskClub lowered shares of Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Credit Suisse Group set a $74.00 price target on shares of Buckeye Partners L.P. and gave the company a “hold” rating in a report on Monday, August 7th. SunTrust Banks, Inc. set a $58.00 target price on shares of Buckeye Partners L.P. and gave the stock a “hold” rating in a report on Tuesday, November 14th. Finally, Royal Bank Of Canada reduced their target price on shares of Buckeye Partners L.P. from $67.00 to $56.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, ten have assigned 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 $65.33.

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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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