Buckeye Partners LP Gets a Hold Rating from Mizuho Securities

By Carrie Williams

In a report released today, Brian Zarahn from Mizuho Securities reiterated a Hold rating on Buckeye Partners LP (NYSE: BPL), with a price target of $45. The company’s shares closed yesterday at $38.11, close to its 52-week low of $35.24.

According to TipRanks.com, Zarahn is a 3-star analyst with an average return of 3.4% and a 48.1% success rate. Zarahn covers the Basic Materials sector, focusing on stocks such as Energy Transfer Partners LP, Noble Midstream Partners LP, and Spectra Energy Partners.

Buckeye Partners LP has an analyst consensus of Hold, with a price target consensus of $49.60.

The company has a one-year high of $69.95 and a one-year low of $35.24. Currently, Buckeye Partners LP has an average volume of 965.2K.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock.

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Buckeye Partners LP is a holding company, which engages in the provision of 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 all-weather transportation of refined petroleum products .It operates its business through the following segments: Domestic Pipelines and Terminals; Global Marine Terminals; and Merchant Services. The Domestic Pipelines and Terminals segment transports liquid petroleum products from refineries, connecting pipelines, vessels, and bulk and marine terminals. The Global Marine Terminals segment provides marine accessible bulk storage and blending services; and rail and truck rack loading or unloading along with petroleum processing services. The Merchant Services segment is a wholesale distributor of refined petroleum products in the continental United States and in the Caribbean. The company was founded in December 1986 and is headquartered in Houston, TX.