Barclays Assumes Buckeye Partners L.P. to Equal-weight

Brokerage firm Barclays Assumes its rating on Buckeye Partners L.P.(NYSE:BPL). The shares have been rated Equal-weight. The rating by Barclays was issued on Apr 12, 2016.

In a different note, On Mar 15, 2016, JP Morgan said it Maintains its rating on Buckeye Partners L.P.. In the research note, the firm Raises the price-target to $74.00 per share. The shares have been rated ‘Neutral’ by the firm. On Mar 2, 2016, Stifel Nicolaus said it Maintains its rating on Buckeye Partners L.P.. In the research note, the firm Raises the price-target to $60.00 per share. The shares have been rated ‘Buy’ by the firm. Morgan Stanley said it Initiates Coverage on Buckeye Partners L.P., according to a research note issued on Feb 25, 2016. The shares have been rated ‘Overweight’ by the firm. On Feb 16, 2016, Barclays said it Maintains its rating on Buckeye Partners L.P.. In the research note, the firm Lowers the price-target to $72.00 per share. The shares have been rated ‘Equalweight’ by the firm.

Buckeye Partners L.P. (BPL) shares turned negative on Fridays trading session with the shares closing down -0.73 points or -1.06% at a volume of 3,54,920. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $69.23. The peak price level was also seen at $69.23 while the days lowest was $67.79. Finally the shares closed at $68.16. The 52-week high of the shares is $82.98 while the 52-week low is $47.07. According to the latest information available, the market cap of the company is $8,842 M.

Buckeye Partners L.P.(BPL) last announced its earnings results on Feb 12, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $840.17M. Analysts had an estimated revenue of $827.41M. Earnings per share were $1.03. Analysts had estimated an EPS of $0.99.

Several Insider Transactions has been reported to the SEC. On Mar 2, 2016, Todd J Russo (SVP and General Counsel) sold 2,400 shares at $64.52 per share price.Also, On Feb 22, 2016, Larry C Payne (director) purchased 1,000 shares at $57.97 per share price.On Sep 21, 2015, Mark S Esselman (SVP, Global Human Resources) purchased 1,000 shares at $64.92 per share price, according to the Form-4 filing with the securities and exchange commission.

Buckeye Partners L.P. (Buckeye) owns and operates a diversified network of integrated assets providing midstream logistic solutions primarily consisting of the transportation storage and marketing of liquid petroleum products. The Company operates in four segments: Pipelines & Terminals; Global Marine Terminals; Merchant Services and Development & Logistics. Buckeye GP LLC (Buckeye GP) is the Company’s general partner. The Pipelines & Terminals segment owns and operates pipeline in the Northeastern and upper Midwestern portions of the United States. The Global Marine Terminals segment provides marine bulk storage marine terminal throughput services and other related services in the Caribbean and the United States. The Merchant Services segment distributes petroleum products in the United States and in the Caribbean. The Development & Logistics segment operates third-party pipelines.

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