Buckeye Partners LP Gets a Hold Rating from RBC Capital

By Ryan Adsit

In a report issued on September 11, Elvira Scotto from RBC Capital reiterated a Hold rating on Buckeye Partners LP (NYSE: BPL), with a price target of $67. The company’s shares opened today at $56.58, close to its 52-week low of $54.33.

According to TipRanks.com, Scotto is a top 100 analyst with an average return of 19.3% and a 68.5% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, American Midstreampartners Lp, and Energy Transfer Partners LP.

Buckeye Partners LP has an analyst consensus of Moderate Buy, with a price target consensus of $70.

The company has a one year high of $73.01 and a one year low of $54.33. Currently, Buckeye Partners LP has an average volume of 542K.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BPL in relation to earlier this year.

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.