Stifel Nicolaus Downgrades Buckeye Partners L.P. to Hold

Brokerage firm Stifel Nicolaus Downgrades its rating on Buckeye Partners L.P.(BPL). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the stock financial advisor at Stifel Nicolaus was issued on Feb 13, 2017 in a research report to their Investors and Clients.

In a different note, On Dec 15, 2016, Goldman Sachs said it Downgrades its rating on Buckeye Partners L.P.. The shares have been rated ‘Neutral’ by the firm.

Buckeye Partners L.P. (BPL) shares turned negative on Wednesdays trading session with the shares closing down -0.31 points or -0.44% at a volume of 4,72,698. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $70.2225. The peak price level was also seen at $70.2225 while the days lowest was $69.77. Finally the shares closed at $70.01. The 52-week high of the shares is $75.1 while the 52-week low is $57.66. According to the latest information available, the market cap of the company is $9,817 M.

Buckeye Partners L.P.(BPL) last announced its earnings results on Feb 10, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $924.055M. Analysts had an estimated revenue of $867.510M. Earnings per share were $0.92. Analysts had estimated an EPS of $1.03.

Several Insider Transactions has been reported to the SEC. On Dec 22, 2016, Clair Keith St (EVP and CFO) sold 3,500 shares at $65.10 per share price.Also, On Dec 19, 2016, Joseph Sauger (SVP, Eng. and Compliance Svcs) sold 1,062 shares at $64.84 per share price.On Dec 8, 2016, Larry C Payne (director) purchased 1,000 shares at $62.95 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.

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