Van ECK Associates Corp decreased its position in Buckeye Partners, L.P. (NYSE:BPL) by 2.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 18,042 shares of the pipeline company’s stock after selling 424 shares during the period. Van ECK Associates Corp’s holdings in Buckeye Partners were worth $523,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital Investment Advisory Services LLC purchased a new stake in Buckeye Partners in the 4th quarter valued at about $36,000. Ipswich Investment Management Co. Inc. purchased a new stake in Buckeye Partners in the 4th quarter valued at about $122,000. Girard Partners LTD. purchased a new stake in Buckeye Partners in the 3rd quarter valued at about $163,000. Claraphi Advisory Network LLC purchased a new stake in Buckeye Partners in the 3rd quarter valued at about $212,000. Finally, Valley National Advisers Inc. increased its stake in Buckeye Partners by 211.5% in the 3rd quarter. Valley National Advisers Inc. now owns 6,438 shares of the pipeline company’s stock valued at $230,000 after buying an additional 4,371 shares during the last quarter. Hedge funds and other institutional investors own 70.32% of the company’s stock.

NYSE BPL traded up $0.05 on Friday, hitting $33.94. The stock had a trading volume of 89,900 shares, compared to its average volume of 1,041,102. Buckeye Partners, L.P. has a 52-week low of $25.71 and a 52-week high of $45.07. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.46 and a quick ratio of 0.28. The stock has a market capitalization of $5.24 billion, a PE ratio of 18.96 and a beta of 1.10.

Buckeye Partners (NYSE:BPL) last posted its earnings results on Friday, February 8th. The pipeline company reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.21. Buckeye Partners had a negative net margin of 1.44% and a positive return on equity of 9.65%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $958.86 million. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, research analysts anticipate that Buckeye Partners, L.P. will post 2.59 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 19th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 8.84%. The ex-dividend date of this dividend was Friday, February 15th. Buckeye Partners’s dividend payout ratio is presently 167.60%.

A number of research firms have recently weighed in on BPL. Citigroup reduced their target price on shares of Buckeye Partners from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, November 29th. UBS Group downgraded shares of Buckeye Partners from a “buy” rating to a “neutral” rating and set a $33.25 price objective for the company. in a report on Friday, March 8th. ValuEngine downgraded shares of Buckeye Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Zacks Investment Research downgraded shares of Buckeye Partners from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Finally, Mizuho started coverage on shares of Buckeye Partners in a report on Monday. They issued a “neutral” rating and a $36.00 price objective for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $38.48.

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Buckeye Partners 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.

Read More: Capital Gains

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Institutional Ownership by Quarter for Buckeye Partners (NYSE:BPL)

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