Buckeye Partners (NYSE:BPL) Stock Price Crosses Above 50 Day Moving Average of $40.98
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.
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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