Buckeye Partners, L.P. (NYSE:BPL) SVP Todd J. Russo sold 8,740 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $40.96, for a total transaction of $357,990.40. Following the completion of the transaction, the senior vice president now owns 5,092 shares of the company’s stock, valued at $208,568.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of NYSE BPL opened at $40.88 on Thursday. The company has a market capitalization of $6.30 billion, a P/E ratio of 22.84 and a beta of 1.09. Buckeye Partners, L.P. has a 52 week low of $25.71 and a 52 week high of $42.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.63 and a current ratio of 0.92.

Buckeye Partners (NYSE:BPL) last issued its earnings results on Friday, May 10th. The pipeline company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.07). The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Buckeye Partners had a negative net margin of 2.29% and a positive return on equity of 9.46%. Buckeye Partners’s quarterly revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Sell-side analysts predict that Buckeye Partners, L.P. will post 2.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 20th will be given a $0.75 dividend. The ex-dividend date is Friday, May 17th. This represents a $3.00 dividend on an annualized basis and a yield of 7.34%. Buckeye Partners’s dividend payout ratio is currently 167.60%.

A number of institutional investors have recently added to or reduced their stakes in BPL. Harvest Fund Advisors LLC boosted its position in Buckeye Partners by 97.4% in the 4th quarter. Harvest Fund Advisors LLC now owns 5,572,816 shares of the pipeline company’s stock worth $161,556,000 after purchasing an additional 2,749,735 shares in the last quarter. Alps Advisors Inc. boosted its position in Buckeye Partners by 12.6% in the 4th quarter. Alps Advisors Inc. now owns 14,531,387 shares of the pipeline company’s stock worth $421,265,000 after purchasing an additional 1,626,804 shares in the last quarter. Bank of Montreal Can boosted its position in Buckeye Partners by 97.9% in the 4th quarter. Bank of Montreal Can now owns 2,145,556 shares of the pipeline company’s stock worth $62,199,000 after purchasing an additional 1,061,307 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Buckeye Partners by 6.5% in the 1st quarter. OppenheimerFunds Inc. now owns 15,054,028 shares of the pipeline company’s stock worth $512,138,000 after purchasing an additional 922,274 shares in the last quarter. Finally, Eagle Global Advisors LLC purchased a new stake in Buckeye Partners in the 1st quarter worth approximately $22,206,000. Institutional investors and hedge funds own 69.77% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Buckeye Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. ValuEngine downgraded shares of Buckeye Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Barclays restated a “buy” rating and set a $38.00 price objective on shares of Buckeye Partners in a report on Tuesday, February 19th. UBS Group upgraded shares of Buckeye Partners from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $36.00 in a report on Thursday, March 7th. Finally, Mizuho assumed coverage on shares of Buckeye Partners in a report on Monday, March 11th. They set a “neutral” rating and a $36.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $39.79.

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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.

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