UBS AG Cuts Price Target on Buckeye Partners (BPL)

By admin | 6 years ago

Equities researchers at UBS AG (NYSE: UBS) dropped their target price on shares of Buckeye Partners (NYSE: BPL) from $70.00 to $64.00 in a report issued on Monday. The firm currently has a “buy” rating on the stock.

Shares of Buckeye Partners traded down 0.34% during mid-day trading on Monday, hitting $53.2607. Buckeye Partners has a 52 week low of $52.46 and a 52 week high of $68.45. The company has a market cap of $5.197 billion and a P/E ratio of 53.12.

Buckeye Partners last announced its earnings results on Friday, May 4th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by $0.22. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that Buckeye Partners will post $0.77 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs (NYSE: GS) downgraded shares of Buckeye Partners to a “buy” rating in a research note to investors on Wednesday, February 29th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Buckeye Partners in a research note to investors on Tuesday, February 14th. They now have a $67.00 price target on the stock. Finally, analysts at Deutsche Bank (NYSE: DB) initiated coverage on shares of Buckeye Partners in a research note to investors on Tuesday, February 14th. They set a “hold” rating on the stock.

Buckeye Partners, L.P. is a master limited partnership. It owns and operates independent refined petroleum products pipeline systems in the United States, with approximately 5,400 miles of pipeline and 69 active products terminals that provide aggregate storage capacity of over 53 million barrels.

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