Buckeye Partners (NYSE:BPL) Stock Upgrade
Shares of Buckeye Partners (NYSE:BPL) were upgraded by research analysts from D. A. Davidson from a “Neutral” rating to a much more attractive “Buy” rating in analysts note sent to investors on 14 December. D. A. Davidson after the upgrade has a $69.00 TP on shares, and their TP may suggest a possible upside of 30.29%.
From a total of 11 analysts covering Buckeye Partners (NYSE:BPL) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 42% of the ratings are positive. The highest target price is $84.5 while the lowest target price is $73. The mean of all analyst targets is $78.14 with a 45.30% above today’s ($52.72) stock price. Buckeye Partners was the topic of 6 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. DA Davidson initiated shares on November 16 with “Neutral” rating.
Approximately 425,070 shares of stock traded hands. Buckeye Partners, L.P. (NYSE:BPL) has declined 31.79% since May 11, 2015 and is downtrending. It has underperformed by 27.38% the S&P500.
The overall sentiment of institutions has increased to 1.01 in Q2 2015. Its up 0.02, from 0.99 in 2015Q2. The ratio is positive, as 52 institutions have sold all the shares of Buckeye Partners, L.P. that they owned while 86 funds have taken shares off the table. 40 funds have purchased shares for the first time while 99 added to their positions. These institutions now hold 82.98 million shares or 3.42% more than the 80.24 million shares they owned in 2015Q2.
The Fund Limestone Value Partners Llc currently is holding shares equating to 10.49% of its total portfolio in Buckeye Partners, L.P. representing a total of 144,900 shares. Another fund,Tortoise Capital Advisors L.L.C., is holding a total of 12.48 million shares equating to 5.83% of their holdings. Additionally, Eagle Global Advisors Llc has a 2.46 million share stake in Buckeye Partners, L.P. which represents 4.83% of their total portfolio. The Fund, C.V. Starr & Co. Inc. Trust, based out of New York, has also built up a stake in the stock, which represents a total of 4.8% of their total portfolio. Finally Center Coast Capital Advisors Lp, a fund which is based in the state of Texas reported a total holdings of 2.67 million shares.
Insider activity is a very important aspect to track on any stock. Going back to May 13, 2015, shareholders of Buckeye Partners, L.P. have witnessed 1 buying transaction, and a total of 0 insider sales equating to a net activity of approximately $64,915 . Esselman Mark S bought 1,000 shares worth approximately $64,915. Sauger Joseph sold 2,508 shares worth approximately $198,282. Pelton Patrick L sold 685 shares worth approximately $55,334.
Buckeye Partners, L.P. 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 has a market cap of $6.91 billion. The Firm operates in four divisions: Pipelines & Terminals; Global Marine Terminals; Merchant Services, and Development & Logistics. It has 18.32 P/E ratio. Buckeye GP LLC (Buckeye GP) is the Company’s general partner.
According to Zacks Investment Research, “Buckeye Partners, L.P. conducts all its operations through subsidiary entities including Buckeye Pipe Line Company, L.P., Laurel Pipe Line Company, L.P., Everglades Pipe Line Company, L.P. and Buckeye Tank Terminals Company, L.P. The company receives petroleum products from refineries, connecting pipelines and marine terminals, and transports those products to other locations. Buckeye Partners also provides bulk storage services through leased facilities.”