Buckeye Partners LP Receives a New Rating from Top AnalystBy Ryan Adsit
According to TipRanks.com, Scotto is a top 25 analyst with an average return of 23.7% and a 74.9% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Sanchez Production Partners, and Enbridge Energy Management.
Currently, the analyst consensus on Buckeye Partners LP is Hold and the average price target is $76, representing a 12.5% upside.
In a report issued on April 17, Guggenheim also initiated coverage with a Hold rating on the stock with a $72 price target.
Buckeye Partners LP’s market cap is currently $9.48B and has a P/E ratio of 16.79. The company has a book value ratio of 2.1623.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2016, Clair Keith St, the EVP & CFO of BPL sold 3,500 shares for a total of $227,815.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Buckeye Partners LP is a master limited partnership that provides mid-stream energy logistics services. It owns and operates petroleum products common carrier pipeline networks providing refiners, wholesalers, marketers, airlines, railroads and other commercial end-users with dependable, all-weather transportation of refined petroleum products. The company operates its business through Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services. The Domestic Pipelines & Terminals segment receives liquid petroleum products from refineries, connecting pipelines, vessels, and bulk and marine terminals and transports those products to other locations for a fee and provides bulk storage and terminal throughput services. The Global Marine Terminals segment provides marine accessible bulk storage and blending services, rail and truck rack loading/unloading along with petroleum processing services in the East Coast and Gulf Coast regions of the United States and in the Caribbean. The Merchant Services segment is a wholesale distributor of refined petroleum products in the continental United States and in the Caribbean. Buckeye Partners was founded in December 1986 and is headquartered in Houston, TX.