Notable Mover: Buckeye Partners LP Q2 2016 Institutional Investor Sentiment Better Than Expected

November 29, 2016 - By Louis Casey   ·   0 Comments

Notable Mover: Buckeye Partners LP  Q2 2016 Institutional Investor Sentiment  Better Than Expected

Sentiment for Buckeye Partners LP (NYSE:BPL)

Buckeye Partners LP (NYSE:BPL) institutional sentiment increased to 1.52 in 2016 Q2. Its up 0.43, from 1.09 in 2016Q1. The ratio has improved, as 120 institutional investors started new and increased holdings, while 110 sold and reduced their holdings in Buckeye Partners LP. The institutional investors in our partner’s database reported: 73.08 million shares, down from 87.33 million shares in 2016Q1. Also, the number of institutional investors holding Buckeye Partners LP in their top 10 holdings decreased from 20 to 15 for a decrease of 5. Sold All: 20 Reduced: 90 Increased: 93 New Position: 27.

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 $8.81 billion. The Firm operates through three divisions: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services. It has a 14.88 P/E ratio. It is also an independent terminalling and storage operator in the United States in terms of capacity available for service.

About 1,203 shares traded hands. Buckeye Partners, L.P. (NYSE:BPL) has declined 8.87% since April 26, 2016 and is downtrending. It has underperformed by 14.13% the S&P500.

Analysts await Buckeye Partners, L.P. (NYSE:BPL) to report earnings on February, 10. They expect $1.03 EPS, 0.00% or $0.00 from last year’s $1.03 per share. BPL’s profit will be $143.33M for 15.37 P/E if the $1.03 EPS becomes a reality. After $1.19 actual EPS reported by Buckeye Partners, L.P. for the previous quarter, Wall Street now forecasts -13.45% negative EPS growth.

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.”

First Trust Bank Ltd. holds 16.1% of its portfolio in Buckeye Partners, L.P. for 128,000 shares. Hwg Holdings Lp owns 144,238 shares or 9.42% of their US portfolio. Moreover, C.V. Starr & Co. Inc. Trust has 5.57% invested in the company for 180,000 shares. The Kansas-based Tortoise Capital Advisors L.L.C. has invested 5.32% in the stock. Eagle Global Advisors Llc, a Texas-based fund reported 2.56 million shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 1 buying transaction, and 2 insider sales for $384,898 net activity.

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

Ratings analysis reveals 44% of Buckeye Partners’s analysts are positive. Out of 9 Wall Street analysts rating Buckeye Partners, 4 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $58 while the high is $86. The stock’s average target of $73.44 is 16.00% above today’s ($63.31) share price. BPL was included in 18 notes of analysts from August 4, 2015. The firm has “Neutral” rating by Mizuho given on Monday, November 7. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, October 26. As per Tuesday, March 15, the company rating was maintained by JP Morgan. The rating was initiated by Credit Suisse with “Neutral” on Wednesday, October 12. The stock of Buckeye Partners, L.P. (NYSE:BPL) has “Neutral” rating given on Friday, September 30 by Mizuho. Stifel Nicolaus maintained the stock with “Buy” rating in Monday, November 2 report. The firm has “Buy” rating given on Wednesday, March 2 by Stifel Nicolaus. As per Thursday, February 25, the company rating was initiated by Morgan Stanley. Goldman Sachs upgraded it to “Buy” rating and $78 target price in Monday, September 19 report. On Thursday, May 12 the stock rating was maintained by Barclays Capital with “Equalweight”.

BPL Company Profile

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 Louis Casey

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