SunTrust Robinson Humphrey Initiates Coverage On Buckeye Partners L.P. to Hold with Price Target $72

SunTrust Robinson Humphrey Initiates Coverage On Buckeye Partners L.P.(BPL). In a research note issued to the investors, the brokerage major Announces the price-target to $72 per share. The shares have been rated Hold. The rating by the stock financial advisor at SunTrust Robinson Humphrey was issued on Mar 21, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 13, 2017, Stifel Nicolaus said it Downgrades its rating on Buckeye Partners L.P.. The shares have been rated ‘Hold’ by the firm.

Buckeye Partners L.P. (BPL) made into the market gainers list on Fridays trading session with the shares advancing 1.13% or 0.75 points. Due to strong positive momentum, the stock ended at $66.89, which is also near the day’s high of $67.07. The stock began the session at $66.26 and the volume stood at 2,74,578 shares. The 52-week high of the shares is $75.1 and the 52 week low is $61.37. The company has a current market capitalization of $9,396 M and it has 14,04,62,350 shares in outstanding.

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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