Buckeye Partners, L.p. (BPL) Files Form 4 Insider Selling : Clark C. Smith Sells 910 Shares

Buckeye Partners, L.p. (BPL): Clark C. Smith , Chair, CEO and President of Buckeye Partners, L.p. sold 910 shares on Jul 18, 2016. The Insider selling transaction was reported by the company on Jul 20, 2016 to the Securities and Exchange Commission. The shares were sold at $75.02 per share for a total value of $68,265.02 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jul 20, 2016, Khalid A Muslih (SVP) sold 7,500 shares at $75.00 per share price.On May 26, 2016, Clark C. Smith (Chair, CEO and President) sold 10,000 shares at $73.01 per share price.Also, On May 24, 2016, Patrick L Pelton (VP, Controller, and CAO) sold 2,090 shares at $71.79 per share price.On Mar 2, 2016, Todd J Russo (SVP and General Counsel) sold 2,400 shares at $64.52 per share price.

Buckeye Partners L.P.: On Monday, Jul 18, 2016 heightened volatility was witnessed in Buckeye Partners L.P. which led to swings in the share price. The shares opened for trading at $74.09 and hit $75.1 on the upside , eventually ending the session at $74.4, with a gain of 0.30% or 0.22 points. The heightened volatility saw the trading volume jump to 3,61,131 shares. The 52-week high of the share price is $76.56 and the company has a market cap of $9,694 M . The 52-week low of the share price is at $47.07.

Buckeye Partners L.P. Money Flow Index Chart

Company has been under the radar of several Street Analysts.Buckeye Partners L.P. is Reiterated by Barclays to Equal Weight and the brokerage firm has raised the Price Target to $ 73 from a previous price target of $69 .The Rating was issued on May 12, 2016.Buckeye Partners L.P. is Reiterated by Stifel to Buy and the brokerage firm has raised the Price Target to $ 75 from a previous price target of $68 .The Rating was issued on May 9, 2016.

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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