Buckeye Partners L.P. (BPL) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 75 from a previous price target of $68 . Stifel advised their investors in a research report released on May 9, 2016.
Many Wall Street Analysts have commented on Buckeye Partners L.P.. Company shares were Reiterated by Stifel on Mar 2, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $60 .Buckeye Partners L.P. was Initiated by Morgan Stanley to “Overweight” on Feb 25, 2016. Shares were Reiterated by Barclays on Feb 16, 2016 to “Equal Weight” and Lowered the Price Target to $ 69 from a previous price target of $72 .
On the company’s financial health, Buckeye Partners L.P. reported $1.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 6, 2016. Analyst had a consensus of $1.03. The company had revenue of $780.60 million for the quarter, compared to analysts expectations of $1000.49 million. The company’s revenue was down -28.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.88 EPS.
Buckeye Partners L.P. closed down -0.96 points or -1.38% at $68.81 with 6,48,206 shares getting traded on Friday. Post opening the session at $69.77, the shares hit an intraday low of $68.37 and an intraday high of $70.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 21, 2016, Clark C. Smith (Chair, CEO and President) sold 10,000 shares at $71.05 per share price. According to the SEC, on Mar 2, 2016, Todd J Russo (SVP and General Counsel) sold 2,400 shares at $64.52 per share price. On Feb 22, 2016, Larry C Payne (director) purchased 1,000 shares at $57.97 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 Companys 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.