Cambridge Investment Research Advisors Inc. Has $403,000 Position in Buckeye Partners, L.P. (BPL)

Cambridge Investment Research Advisors Inc. decreased its position in shares of Buckeye Partners, L.P. (NYSE:BPL) by 16.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,470 shares of the pipeline company’s stock after selling 2,287 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Buckeye Partners were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Poehling Capital Management LLC purchased a new stake in Buckeye Partners during the second quarter valued at approximately $105,000. Adviser Investments LLC purchased a new stake in Buckeye Partners during the second quarter valued at approximately $155,000. Sun Life Financial INC lifted its position in Buckeye Partners by 2,566.7% during the second quarter. Sun Life Financial INC now owns 4,000 shares of the pipeline company’s stock valued at $141,000 after acquiring an additional 3,850 shares during the last quarter. Alps Advisors Inc. lifted its position in Buckeye Partners by 5.2% during the second quarter. Alps Advisors Inc. now owns 12,125,743 shares of the pipeline company’s stock valued at $426,220,000 after acquiring an additional 601,680 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Buckeye Partners during the second quarter valued at approximately $225,000. 66.97% of the stock is owned by institutional investors.

BPL has been the subject of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of Buckeye Partners from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, August 6th. Barclays decreased their target price on shares of Buckeye Partners from $43.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Morgan Stanley decreased their target price on shares of Buckeye Partners from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Friday, June 1st. Zacks Investment Research raised shares of Buckeye Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Buckeye Partners from $42.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, August 24th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Buckeye Partners presently has an average rating of “Hold” and an average price target of $46.75.

NYSE BPL opened at $36.17 on Friday. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 10.89 and a beta of 1.24. Buckeye Partners, L.P. has a 12-month low of $32.03 and a 12-month high of $59.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.01 and a quick ratio of 0.70.

Buckeye Partners (NYSE:BPL) last posted its quarterly earnings results on Friday, August 3rd. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.10). The company had revenue of $940.84 million during the quarter, compared to analysts’ expectations of $811.12 million. Buckeye Partners had a return on equity of 9.12% and a net margin of 11.19%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 EPS. equities analysts anticipate that Buckeye Partners, L.P. will post 2.85 earnings per share for the current year.

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.

Further Reading: What kind of dividend yield to CEF’s pay?

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Institutional Ownership by Quarter for Buckeye Partners (NYSE:BPL)

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