Goldman Sachs Upgrades Buckeye Partners L.P. to Buy

Brokerage firm Goldman Sachs Upgrades its rating on Buckeye Partners L.P.(NYSE:BPL). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Goldman Sachs was issued on Sep 19, 2016.

In a different note, On Sep 8, 2016, US Capital Advisors said it Upgrades its rating on Buckeye Partners L.P.. The shares have been rated ‘Buy’ by the firm. Goldman Sachs said it Initiates Coverage on Buckeye Partners L.P., according to a research note issued on Aug 24, 2016. The shares have been rated ‘Neutral’ by the firm. On Aug 8, 2016, UBS said it Maintains its rating on Buckeye Partners L.P.. In the research note, the firm Raises the price-target to $86.00 per share. The shares have been rated ‘Buy’ by the firm.

Buckeye Partners L.P. (BPL) made into the market gainers list on Thursdays trading session with the shares advancing 1.37% or 0.97 points. Due to strong positive momentum, the stock ended at $71.9, which is also near the day’s high of $72. The stock began the session at $71.35 and the volume stood at 2,85,918 shares. The 52-week high of the shares is $75.1 and the 52 week low is $47.07. The company has a current market capitalization of $9,422 M and it has 13,10,49,226 shares in outstanding.

Buckeye Partners L.P.(BPL) last announced its earnings results on Aug 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $777.12M. Analysts had an estimated revenue of $759.98M. Earnings per share were $1.07. Analysts had estimated an EPS of $0.97.

Several Insider Transactions has been reported to the SEC. On Aug 24, 2016, Pieter Bakker (director) purchased 3,500 shares at $70.25 per share price.Also, On Jul 20, 2016, Clark C. Smith (Chair, CEO and President) sold 910 shares at $75.02 per share price.On Jul 20, 2016, Khalid A Muslih (SVP) sold 7,500 shares at $75.00 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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