Buckeye Partners, L.P. (BPL) on Focus After Trading At 52-Week Lows

March 22, 2018 - By reb123z

Investors sentiment increased to 1 in 2017 Q3. Its up 0.03, from 0.97 in 2017Q2. It increased, as 39 investors sold Buckeye Partners, L.P. shares while 93 reduced holdings. 29 funds opened positions while 103 raised stakes. 96.89 million shares or 5.45% more from 91.89 million shares in 2017Q2 were reported.
907 are owned by Thrivent Fincl For Lutherans. Castleark Mngmt Ltd accumulated 26,261 shares or 0.05% of the stock. Glenmede Trust Na owns 8,005 shares for 0% of their portfolio. 220,715 are held by Spirit Of America Mngmt Corp Ny. Homrich Berg owns 5,086 shares or 0.02% of their US portfolio. Cutter Brokerage Inc accumulated 0.08% or 3,730 shares. 4,582 were reported by Ipswich Invest Mngmt Communication. Ct Mason has 35,083 shares for 0.73% of their portfolio. Comerica Bancorp has invested 0% in Buckeye Partners, L.P. (NYSE:BPL). Neuberger Berman Grp Ltd stated it has 42,665 shares. Sigma Planning Corp holds 0.03% or 6,430 shares. 45,510 are held by Novare Management Ltd Liability. Da Davidson has 8,091 shares. Peoples Financial Services Corp has 0.1% invested in Buckeye Partners, L.P. (NYSE:BPL). Arrow Financial holds 500 shares or 0.01% of its portfolio.

Since March 9, 2018, it had 0 insider buys, and 1 sale for $483,707 activity.

The stock of Buckeye Partners, L.P. (NYSE:BPL) hit a new 52-week low and has $37.44 target or 5.00 % below today’s $39.41 share price. The 9 months bearish chart indicates high risk for the $5.79B company. The 1-year low was reported on Mar, 22 by Barchart.com. If the $37.44 price target is reached, the company will be worth $289.55M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 2.69% or $1.09 during the last trading session, reaching $39.41. About 763,176 shares traded. Buckeye Partners, L.P. (NYSE:BPL) has declined 5.99% since March 22, 2017 and is downtrending. It has underperformed by 22.69% the S&P500.

Analysts await Buckeye Partners, L.P. (NYSE:BPL) to report earnings on May, 4. They expect $0.81 earnings per share, down 7.95 % or $0.07 from last year’s $0.88 per share. BPL’s profit will be $119.02 million for 12.16 P/E if the $0.81 EPS becomes a reality. After $0.85 actual earnings per share reported by Buckeye Partners, L.P. for the previous quarter, Wall Street now forecasts -4.71 % negative EPS growth.

Buckeye Partners, L.P. (NYSE:BPL) Ratings Coverage

Among 17 analysts covering Buckeye Partners (NYSE:BPL), 6 have Buy rating, 1 Sell and 10 Hold. Therefore 35% are positive. Buckeye Partners has $86 highest and $42 lowest target. $60.87’s average target is 54.45% above currents $39.41 stock price. Buckeye Partners had 53 analyst reports since August 4, 2015 according to SRatingsIntel. On Monday, August 7 the stock rating was maintained by Credit Suisse with “Hold”. The stock of Buckeye Partners, L.P. (NYSE:BPL) earned “Neutral” rating by Mizuho on Friday, September 30. On Tuesday, March 6 the stock rating was maintained by Bank of America with “Neutral”. Stifel Nicolaus maintained the shares of BPL in report on Wednesday, October 26 with “Buy” rating. As per Wednesday, September 20, the company rating was maintained by Stifel Nicolaus. Barclays Capital reinitiated Buckeye Partners, L.P. (NYSE:BPL) rating on Tuesday, January 17. Barclays Capital has “Equal Weight” rating and $72 target. Barclays Capital maintained Buckeye Partners, L.P. (NYSE:BPL) on Monday, February 12 with “Equal-Weight” rating. Suntrust Robinson initiated Buckeye Partners, L.P. (NYSE:BPL) rating on Tuesday, March 21. Suntrust Robinson has “Hold” rating and $72 target. The company was maintained on Sunday, October 15 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Wednesday, February 14 with “Hold”.

Buckeye Partners, L.P. owns and operates liquid petroleum products pipelines in the United States. The company has market cap of $5.79 billion. The firm operates through three divisions: Domestic Pipelines & Terminals, Global Marine Terminals, and Merchant Services. It has a 11.87 P/E ratio. The Domestic Pipelines & Terminals segment transports liquid petroleum products, including gasoline, jet fuel, diesel fuel, heating oil, and kerosene; refined petroleum products, such as propane and butane, refinery feedstock, and blending components; and crude oil.

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