The Johnson Investment Counsel Inc. Has $684,000 Stake in Buckeye Partnrs (BPL)

The Johnson Investment Counsel Inc. Has $684,000 Stake in Buckeye Partnrs (BPL)

Johnson Investment Counsel Inc. increased its position in Buckeye Partnrs (NYSE:BPL) by 72.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,558 shares of the company’s stock after buying an additional 4,000 shares during the period. Johnson Investment Counsel Inc.’s holdings in Buckeye Partnrs were worth $684,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BPL. Advantus Capital Management Inc boosted its stake in shares of Buckeye Partnrs by 7.1% in the third quarter. Advantus Capital Management Inc now owns 40,700 shares of the company’s stock worth $2,914,000 after buying an additional 2,700 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Buckeye Partnrs by 1.4% in the third quarter. Chicago Partners Investment Group LLC now owns 56,578 shares of the company’s stock worth $4,051,000 after buying an additional 763 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Buckeye Partnrs by 137.5% in the third quarter. Brown Brothers Harriman & Co. now owns 3,800 shares of the company’s stock worth $272,000 after buying an additional 2,200 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Buckeye Partnrs by 0.9% in the third quarter. HighTower Advisors LLC now owns 130,396 shares of the company’s stock worth $9,340,000 after buying an additional 1,188 shares during the last quarter. Finally, AMP Capital Investors Ltd boosted its stake in shares of Buckeye Partnrs by 2.2% in the third quarter. AMP Capital Investors Ltd now owns 7,561 shares of the company’s stock worth $538,000 after buying an additional 162 shares during the last quarter. Institutional investors and hedge funds own 65.42% of the company’s stock.

Shares of Buckeye Partnrs (NYSE:BPL) traded up 0.44% during trading on Thursday, reaching $64.40. The company had a trading volume of 430,398 shares. The company has a market capitalization of $9.03 billion, a PE ratio of 14.98 and a beta of 1.19. Buckeye Partnrs has a 52 week low of $48.89 and a 52 week high of $75.10. The stock’s 50-day moving average price is $65.11 and its 200-day moving average price is $68.39.

A number of analysts have commented on the company. Barclays PLC assumed coverage on Buckeye Partnrs in a research report on Tuesday. They issued an “equal weight” rating and a $72.00 price target for the company. RBC Capital Markets reiterated a “hold” rating and set a $71.00 target price on shares of Buckeye Partnrs in a research report on Friday, January 6th. Goldman Sachs Group Inc. cut Buckeye Partnrs from a “buy” rating to a “neutral” rating and cut their target price for the stock from $78.00 to $70.00 in a research report on Thursday, December 15th. Mizuho cut their target price on Buckeye Partnrs from $76.00 to $70.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Finally, Stifel Nicolaus cut their target price on Buckeye Partnrs from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.40.

In other news, CFO Clair Keith St sold 3,500 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $65.10, for a total value of $227,850.00. Following the completion of the transaction, the chief financial officer now owns 93,174 shares of the company’s stock, valued at approximately $6,065,627.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Joseph Sauger sold 1,062 shares of the business’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $64.84, for a total value of $68,860.08. Following the completion of the transaction, the senior vice president now directly owns 29,987 shares of the company’s stock, valued at approximately $1,944,357.08. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Buckeye Partnrs Company Profile

Buckeye Partners, L.P. (Buckeye) owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. The Company operates through three segments: Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

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