Buckeye Partners (NYSE:BPL) – Stock analysts at SunTrust Banks cut their Q2 2018 earnings per share estimates for Buckeye Partners in a report released on Tuesday, May 15th. SunTrust Banks analyst T. Richardson now forecasts that the pipeline company will post earnings of $0.69 per share for the quarter, down from their prior estimate of $0.71. SunTrust Banks currently has a “Hold” rating and a $44.00 target price on the stock. SunTrust Banks also issued estimates for Buckeye Partners’ Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.88 EPS, FY2018 earnings at $3.04 EPS and FY2019 earnings at $3.15 EPS.
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A number of other equities analysts also recently commented on the company. Stifel Nicolaus set a $45.00 price objective on Buckeye Partners and gave the stock a “buy” rating in a research report on Monday, May 7th. Citigroup downgraded Buckeye Partners from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Monday, May 7th. ValuEngine downgraded Buckeye Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, May 4th. Deutsche Bank began coverage on Buckeye Partners in a research report on Thursday, April 19th. They set a “hold” rating and a $44.00 price objective on the stock. Finally, Zacks Investment Research upgraded Buckeye Partners from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 11th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $51.38.
Shares of Buckeye Partners stock opened at $39.05 on Thursday. Buckeye Partners has a one year low of $39.07 and a one year high of $39.56. The company has a market cap of $5.77 billion, a P/E ratio of 11.76 and a beta of 1.18. The company has a current ratio of 1.17, a quick ratio of 0.81 and a debt-to-equity ratio of 0.90.
Buckeye Partners (NYSE:BPL) last announced its quarterly earnings data on Friday, May 4th. The pipeline company reported $0.74 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.03). Buckeye Partners had a return on equity of 9.58% and a net margin of 12.11%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $919.90 million. During the same quarter in the previous year, the business posted $0.88 EPS. The business’s quarterly revenue was up 22.8% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 21st. Shareholders of record on Monday, May 14th will be paid a dividend of $1.2625 per share. This is a boost from Buckeye Partners’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend is Friday, May 11th. This represents a $5.05 annualized dividend and a yield of 12.93%. Buckeye Partners’s dividend payout ratio (DPR) is 152.11%.
In other Buckeye Partners news, Director Mark C. Mckinley bought 1,000 shares of the business’s stock in a transaction on Friday, March 23rd. The stock was bought at an average price of $38.46 per share, with a total value of $38,460.00. Following the completion of the purchase, the director now directly owns 26,000 shares in the company, valued at $999,960. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pieter Bakker sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $46.05, for a total value of $92,100.00. Following the sale, the director now directly owns 19,552 shares of the company’s stock, valued at approximately $900,369.60. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Albert D Mason Inc. grew its stake in shares of Buckeye Partners by 4.0% in the fourth quarter. Albert D Mason Inc. now owns 31,933 shares of the pipeline company’s stock valued at $1,582,000 after buying an additional 1,240 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Buckeye Partners by 0.8% in the first quarter. Evergreen Capital Management LLC now owns 182,745 shares of the pipeline company’s stock valued at $6,833,000 after buying an additional 1,450 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Buckeye Partners by 37.8% in the first quarter. Stephens Inc. AR now owns 5,748 shares of the pipeline company’s stock valued at $215,000 after buying an additional 1,576 shares in the last quarter. Ronna Sue Cohen grew its stake in shares of Buckeye Partners by 5.3% in the fourth quarter. Ronna Sue Cohen now owns 31,831 shares of the pipeline company’s stock valued at $1,577,000 after buying an additional 1,594 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its stake in shares of Buckeye Partners by 32.1% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 8,281 shares of the pipeline company’s stock valued at $310,000 after buying an additional 2,010 shares in the last quarter. 73.29% of the stock is owned by institutional investors and hedge funds.
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; refined petroleum products; and crude oil.