November 28, 2016 - By Peter Erickson · 0 Comments
The stock of Buckeye Partners L P (NYSE:BPL) registered a decrease of 55.12% in short interest. BPL’s total short interest was 1.22M shares in November as published by FINRA. Its down 55.12% from 2.73 million shares, reported previously. With 869,200 shares average volume, it will take short sellers 1 days to cover their BPL’s short positions. The short interest to Buckeye Partners L P’s float is 0.99%. The stock increased 0.77% or $0.5 on November 25, hitting $65.06. Buckeye Partners, L.P. (NYSE:BPL) has declined 8.29% since April 25, 2016 and is downtrending. It has underperformed by 14.30% the S&P500.
Buckeye Partners, L.P. owns and operates a 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 $9.19 billion. The Firm operates through three divisions: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services. It has a 15.14 P/E ratio. It is also an independent terminalling and storage operator in the United States in terms of capacity available for service.
Insitutional Activity: The institutional sentiment increased to 1.52 in 2016 Q2. Its up 0.43, from 1.09 in 2016Q1. The ratio is positive, as 20 funds sold all Buckeye Partners, L.P. shares owned while 90 reduced positions. 27 funds bought stakes while 93 increased positions. They now own 73.08 million shares or 16.32% less from 87.33 million shares in 2016Q1.
Catawba Capital Mgmt Va reported 28,593 shares or 0.49% of all its holdings. Johnson Group owns 753 shares or 0.01% of their US portfolio. Fincl Mngmt Pro holds 67 shares or 0% of its portfolio. Folger Nolan Fleming Douglas Mgmt accumulated 8,550 shares or 0.1% of the stock. Cypress Cap Limited Liability Corp (Wy) has invested 0% of its portfolio in Buckeye Partners, L.P. (NYSE:BPL). Parkwood Limited Com has 20,242 shares for 0.24% of their US portfolio. Castleark Mgmt reported 52,790 shares or 0.12% of all its holdings. Westwood Corp Il has 0.07% invested in the company for 5,000 shares. Moors Cabot, a Massachusetts-based fund reported 43,354 shares. Citigroup Incorporated accumulated 424,611 shares or 0.03% of the stock. Moreover, First Allied Advisory Ser has 0.02% invested in Buckeye Partners, L.P. (NYSE:BPL) for 5,544 shares. Us Comml Bank De last reported 0.01% of its portfolio in the stock. Barnett & has invested 0.44% of its portfolio in Buckeye Partners, L.P. (NYSE:BPL). Barclays Public Lc accumulated 359,542 shares or 0.03% of the stock. Central Bancorporation Trust holds 500 shares or 0.01% of its portfolio.
Insider Transactions: Since July 18, 2016, the stock had 1 insider purchase, and 2 insider sales for $384,898 net activity. Muslih Khalid A sold $562,500 worth of stock. Smith Clark C. also sold $68,265 worth of Buckeye Partners, L.P. (NYSE:BPL) shares. Bakker Pieter also bought $245,867 worth of Buckeye Partners, L.P. (NYSE:BPL) shares.
Out of 9 analysts covering Buckeye Partners (NYSE:BPL), 4 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 44% are positive. Buckeye Partners has been the topic of 18 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by DA Davidson on Monday, December 14. Barclays Capital maintained Buckeye Partners, L.P. (NYSE:BPL) rating on Thursday, May 12. Barclays Capital has “Equalweight” rating and $73 price target. The rating was maintained by Mizuho with “Neutral” on Monday, November 7. The stock has “Neutral” rating given by JP Morgan on Tuesday, March 15. The firm has “Buy” rating by Stifel Nicolaus given on Monday, November 2. The stock of Buckeye Partners, L.P. (NYSE:BPL) earned “Buy” rating by Stifel Nicolaus on Wednesday, October 26. The company was initiated on Thursday, August 25 by Goldman Sachs. The stock of Buckeye Partners, L.P. (NYSE:BPL) has “Overweight” rating given on Thursday, February 25 by Morgan Stanley. As per Wednesday, October 12, the company rating was initiated by Credit Suisse. As per Monday, September 19, the company rating was upgraded by Goldman Sachs.
Buckeye Partners, L.P. (Buckeye), incorporated on July 11, 1986, owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. The Firm operates through three divisions: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services. Buckeye GP LLC (Buckeye GP) is the Company’s general partner. It is also an independent terminalling and storage operator in the United States in terms of capacity available for service. The Company’s terminal network comprises approximately 120 liquid petroleum products terminals with aggregate storage capacity of over 110 million barrels across its portfolio of pipelines, inland terminals and marine terminals located primarily in the East Coast and Gulf Coast regions of the United States and in the Caribbean.
More notable recent Buckeye Partners, L.P. (NYSE:BPL) news were published by: Globenewswire.com which released: “Buckeye Partners, L.P. to Acquire 50% Interest in VTTI B.V.’s Global Marine …” on October 24, 2016, also Globenewswire.com with their article: “Buckeye Partners, L.P. Announces Successful Open Season for Second Phase of …” published on October 21, 2016, Globenewswire.com published: “Buckeye Partners, L.P. Prices $600.0 Million Offering of Senior Notes” on October 27, 2016. More interesting news about Buckeye Partners, L.P. (NYSE:BPL) were released by: Fool.com and their article: “Forget Boardwalk Pipeline Partners, Buckeye Partners, LP is a Better Bet” published on July 14, 2016 as well as Globenewswire.com‘s news article titled: “Buckeye Partners, L.P. Provides Update on Hurricane Matthew Recovery and …” with publication date: October 20, 2016.
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By Peter Erickson