Buckeye Partners L.P. (BPL) is Initiated by Goldman to Neutral, Price Target at $78

Buckeye Partners L.P. (BPL) was Initiated by Goldman to “Neutral” and the brokerage firm has set the Price Target at $78. Goldman advised their investors in a research report released on Aug 25, 2016.

On the company’s financial health, Buckeye Partners L.P. reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $0.96. The company had revenue of $777.10 million for the quarter, compared to analysts expectations of $851.95 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.71 EPS.

Buckeye Partners L.P. opened for trading at $69.64 and hit $70.45 on the upside on Tuesday, eventually ending the session at $70.17, with a gain of 0.73% or 0.51 points. The heightened volatility saw the trading volume jump to 3,04,133 shares. Company has a market cap of $9,196 M.

In a different news, on Aug 24, 2016, Pieter Bakker (director) purchased 3,500 shares at $70.25 per share price. According to the SEC, on Jul 20, 2016, Clark C. Smith (Chair, CEO and President) sold 910 shares at $75.02 per share price. On Jul 20, 2016, Khalid A Muslih (SVP) sold 7,500 shares at $75.00 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.

Buckeye Partners L.P.

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