Buckeye Partners, L.P. (NYSE:BPL) VP Gary L. Bohnsack sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $41.73, for a total transaction of $104,325.00. Following the completion of the sale, the vice president now directly owns 422 shares of the company’s stock, valued at $17,610.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of BPL opened at $41.80 on Thursday. Buckeye Partners, L.P. has a fifty-two week low of $25.71 and a fifty-two week high of $42.65. The company has a market capitalization of $6.42 billion, a PE ratio of 23.35 and a beta of 1.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.92 and a quick ratio of 0.28.

Buckeye Partners (NYSE:BPL) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.07). Buckeye Partners had a positive return on equity of 9.46% and a negative net margin of 2.29%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company posted $0.74 EPS. Buckeye Partners’s revenue for the quarter was down 13.0% on a year-over-year basis. As a group, equities analysts expect that Buckeye Partners, L.P. will post 2.45 EPS for the current 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 dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $3.00 dividend on an annualized basis and a yield of 7.18%. Buckeye Partners’s payout ratio is 167.60%.

A number of large investors have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. lifted its position in Buckeye Partners by 3.4% during the first quarter. Stratos Wealth Partners LTD. now owns 10,675 shares of the pipeline company’s stock valued at $363,000 after acquiring an additional 356 shares during the last quarter. Wade G W & Inc. lifted its position in Buckeye Partners by 2.2% during the first quarter. Wade G W & Inc. now owns 19,611 shares of the pipeline company’s stock valued at $667,000 after acquiring an additional 425 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Buckeye Partners by 5.0% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 9,023 shares of the pipeline company’s stock valued at $307,000 after acquiring an additional 432 shares during the last quarter. Jackson Hole Capital Partners LLC lifted its position in Buckeye Partners by 2.9% during the first quarter. Jackson Hole Capital Partners LLC now owns 17,317 shares of the pipeline company’s stock valued at $589,000 after acquiring an additional 488 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Buckeye Partners by 2.8% during the first quarter. SG Americas Securities LLC now owns 29,304 shares of the pipeline company’s stock valued at $997,000 after acquiring an additional 794 shares during the last quarter. 69.33% of the stock is owned by institutional investors.

Several research firms have issued reports on BPL. ValuEngine raised shares of Buckeye Partners from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Investment Research raised shares of Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Mizuho set a $42.00 price target on shares of Buckeye Partners and gave the stock a “hold” rating in a research report on Friday, May 10th. UBS Group cut shares of Buckeye Partners from a “buy” rating to a “neutral” rating and upped their price target for the stock from $36.00 to $41.50 in a research report on Wednesday. Finally, Barclays cut shares of Buckeye Partners from an “overweight” rating to an “equal weight” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price 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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