Buckeye Partners, L.P. (NYSE:BPL) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $40.98 and traded as high as $41.35. Buckeye Partners shares last traded at $41.31, with a volume of 40,900 shares trading hands.

BPL has been the subject of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Elastic in a research note on Monday, May 13th. They issued a “hold” rating and a $75.00 target price for the company. Barclays lowered shares of Buckeye Partners from an “overweight” rating to an “equal weight” rating in a research note on Monday, May 13th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Mizuho set a $88.00 price target on shares of Gilead Sciences and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, UBS Group reiterated a “hold” rating and issued a $130.00 price target on shares of Continental in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.84.

The company has a market cap of $6.36 billion, a PE ratio of 23.09 and a beta of 0.70. The business has a 50-day moving average price of $40.98. The company has a current ratio of 0.92, a quick ratio of 0.63 and a debt-to-equity ratio of 0.90.

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

In other Buckeye Partners news, Director Joseph A. Lasala, Jr. sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.77, for a total value of $366,930.00. Following the transaction, the director now directly owns 14,000 shares of the company’s stock, valued at approximately $570,780. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Todd J. Russo sold 8,740 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $40.96, for a total value of $357,990.40. Following the completion of the sale, the senior vice president now owns 5,092 shares of the company’s stock, valued at $208,568.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,240 shares of company stock worth $829,245. 0.54% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Harvest Group Wealth Management LLC acquired a new position in shares of Buckeye Partners during the 1st quarter valued at about $28,000. Ellevest Inc. bought a new position in shares of Buckeye Partners during the 1st quarter worth approximately $31,000. Legacy Advisors LLC bought a new position in shares of Buckeye Partners during the 1st quarter worth approximately $34,000. FMR LLC increased its holdings in Buckeye Partners by 150,500.0% during the 4th quarter. FMR LLC now owns 1,506 shares of the pipeline company’s stock valued at $43,000 after purchasing an additional 1,505 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in Buckeye Partners during the 1st quarter valued at $71,000. Institutional investors and hedge funds own 71.81% of the company’s stock.

About Buckeye Partners (NYSE:BPL)

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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