Credit Suisse Group initiated coverage on shares of Buckeye Partners (NYSE:BPL) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “neutral” rating and a $35.00 price target on the pipeline company’s stock. Credit Suisse Group’s price objective would suggest a potential downside of 2.91% from the company’s previous close.

A number of other research analysts have also commented on BPL. Barclays decreased their price objective on Buckeye Partners from $43.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 11th. Citigroup decreased their price objective on Buckeye Partners from $39.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, July 31st. Stifel Nicolaus decreased their price objective on Buckeye Partners from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, August 6th. Bank of America decreased their price objective on Buckeye Partners from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 24th. Finally, Zacks Investment Research lowered Buckeye Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.58.

BPL stock opened at $36.05 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.70 and a debt-to-equity ratio of 1.02. Buckeye Partners has a 1-year low of $32.03 and a 1-year high of $57.95. The company has a market cap of $5.25 billion, a P/E ratio of 10.86 and a beta of 1.27.

Buckeye Partners (NYSE:BPL) last issued its quarterly earnings data on Friday, August 3rd. The pipeline company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.10). Buckeye Partners had a net margin of 11.19% and a return on equity of 9.12%. The firm had revenue of $940.84 million during the quarter, compared to analyst estimates of $811.12 million. During the same period in the prior year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. Equities analysts forecast that Buckeye Partners will post 2.85 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BPL. Kayne Anderson Capital Advisors LP grew its holdings in shares of Buckeye Partners by 104.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 10,962,616 shares of the pipeline company’s stock worth $388,338,000 after purchasing an additional 5,608,858 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in shares of Buckeye Partners by 43.2% during the 2nd quarter. Chickasaw Capital Management LLC now owns 5,813,968 shares of the pipeline company’s stock worth $204,361,000 after purchasing an additional 1,755,207 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in shares of Buckeye Partners by 3,193.5% during the 1st quarter. Summit Trail Advisors LLC now owns 1,102,071 shares of the pipeline company’s stock worth $1,102,000 after purchasing an additional 1,068,609 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Buckeye Partners by 5.7% during the 2nd quarter. Alps Advisors Inc. now owns 12,185,717 shares of the pipeline company’s stock worth $603,802,000 after purchasing an additional 661,654 shares in the last quarter. Finally, Brookfield Asset Management Inc. grew its holdings in shares of Buckeye Partners by 19.5% during the 1st quarter. Brookfield Asset Management Inc. now owns 3,449,482 shares of the pipeline company’s stock worth $128,976,000 after purchasing an additional 563,639 shares in the last quarter. 66.97% of the stock is currently owned by institutional investors.

Buckeye Partners Company Profile

Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States and internationally. The company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, and various distillates; refined petroleum products; and crude oil.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

The Fly

Analyst Recommendations for Buckeye Partners (NYSE:BPL)

Receive News & Ratings for Buckeye Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners and related companies with MarketBeat.com's FREE daily email newsletter.