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Diversified Trust Co decreased its stake in shares of Buckeye Partners, L.P. (NYSE:BPL) by 24.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,506 shares of the pipeline company’s stock after selling 7,127 shares during the period. Diversified Trust Co’s holdings in Buckeye Partners were worth $1,066,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Alps Advisors Inc. increased its stake in Buckeye Partners by 11.7% during the 3rd quarter. Alps Advisors Inc. now owns 11,461,563 shares of the pipeline company’s stock valued at $653,309,000 after buying an additional 1,204,235 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in shares of Buckeye Partners by 1.9% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 10,837,570 shares of the pipeline company’s stock valued at $617,741,000 after purchasing an additional 203,880 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Buckeye Partners by 2.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 5,146,972 shares of the pipeline company’s stock valued at $329,046,000 after purchasing an additional 113,242 shares in the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Buckeye Partners by 14.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 3,583,695 shares of the pipeline company’s stock valued at $177,572,000 after purchasing an additional 459,586 shares in the last quarter. Finally, Center Coast Capital Advisors LP boosted its position in shares of Buckeye Partners by 13.5% during the 3rd quarter. Center Coast Capital Advisors LP now owns 3,478,788 shares of the pipeline company’s stock valued at $198,291,000 after purchasing an additional 414,445 shares in the last quarter. 70.24% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the stock. Stifel Nicolaus set a $56.00 price objective on shares of Buckeye Partners and gave the company a “buy” rating in a research report on Sunday. Mizuho set a $55.00 price objective on shares of Buckeye Partners and gave the company a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of Buckeye Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. Barclays raised their price objective on shares of Buckeye Partners from $56.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Finally, Bank of America began coverage on shares of Buckeye Partners in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $63.64.
Buckeye Partners, L.P. (NYSE:BPL) traded down $0.31 during mid-day trading on Friday, hitting $49.95. 1,604,480 shares of the company traded hands, compared to its average volume of 743,838. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.64 and a current ratio of 1.10. The firm has a market capitalization of $7,326.57, a PE ratio of 14.96 and a beta of 1.03. Buckeye Partners, L.P. has a twelve month low of $43.90 and a twelve month high of $73.01.
Buckeye Partners (NYSE:BPL) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.03). The company had revenue of $946.05 million for the quarter, compared to analyst estimates of $905.02 million. Buckeye Partners had a return on equity of 9.72% and a net margin of 12.69%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. analysts predict that Buckeye Partners, L.P. will post 3.54 EPS for the current fiscal year.
The business also recently declared a dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th will be issued a dividend of $1.2625 per share. This is a boost from Buckeye Partners’s previous dividend of $1.24. This represents a dividend yield of 0.0252752752752753%. The ex-dividend date of this dividend is Friday, February 16th. Buckeye Partners’s dividend payout ratio (DPR) is currently 151.20%.
In related news, SVP Joseph Sauger sold 5,481 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $47.04, for a total transaction of $257,826.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.42% of the company’s stock.
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Buckeye Partners Company Profile
Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.
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