Buckeye Partners LP (BPL) Valuation Declined While Harvest Fund Advisors LLC Has Decreased Position by $28.24 Million

December 7, 2017 - By Henry Gaston

Investors sentiment decreased to 0.97 in Q2 2017. Its down 0.21, from 1.18 in 2017Q1. It is negative, as 27 investors sold BPL shares while 100 reduced holdings. 32 funds opened positions while 91 raised stakes. 91.89 million shares or 0.83% less from 92.66 million shares in 2017Q1 were reported. Clearbridge Lc invested in 0.32% or 5.14M shares. Johnson Finance holds 0% or 200 shares in its portfolio. Bb&T Corp holds 17,602 shares. Whitnell & owns 0.08% invested in Buckeye Partners, L.P. (NYSE:BPL) for 3,000 shares. Cetera Advisor Lc reported 0.02% stake. Tarbox Family Office invested 0% in Buckeye Partners, L.P. (NYSE:BPL). Patten Gp holds 0.02% of its portfolio in Buckeye Partners, L.P. (NYSE:BPL) for 1,000 shares. Bridges Inv Counsel Inc stated it has 40,497 shares or 0.59% of all its holdings. Raab And Moskowitz Asset Mngmt Ltd Com reported 14,736 shares or 0.43% of all its holdings. Us National Bank De stated it has 30,591 shares or 0.01% of all its holdings. Jane Street Group Ltd Liability Company owns 122,417 shares for 0.03% of their portfolio. Raymond James & Associates reported 117,531 shares stake. Freestone Cap Hldg Ltd Liability owns 0.4% invested in Buckeye Partners, L.P. (NYSE:BPL) for 78,535 shares. Da Davidson & invested in 0.01% or 8,082 shares. Creative Planning reported 1.26M shares.

Harvest Fund Advisors Llc decreased its stake in Buckeye Partners LP (BPL) by 5.56% based on its latest 2017Q2 regulatory filing with the SEC. Harvest Fund Advisors Llc sold 448,299 shares as the company’s stock declined 5.01% while stock markets rallied. The hedge fund held 7.62 million shares of the natural gas distribution company at the end of 2017Q2, valued at $486.91 million, down from 8.06 million at the end of the previous reported quarter. Harvest Fund Advisors Llc who had been investing in Buckeye Partners LP for a number of months, seems to be less bullish one the $3.98B market cap company. The stock increased 1.58% or $0.72 during the last trading session, reaching $46.42. About 709,807 shares traded. Buckeye Partners, L.P. (NYSE:BPL) has declined 5.99% since December 7, 2016 and is downtrending. It has underperformed by 22.69% the S&P500.

Harvest Fund Advisors Llc, which manages about $5.20B and $9.71B US Long portfolio, upped its stake in Cheniere Energy Inc (NYSEMKT:LNG) by 583,845 shares to 3.12 million shares, valued at $151.75 million in 2017Q2, according to the filing. It also increased its holding in Cheniere Energy Ptnrs Lp Hld (NYSEMKT:CQH) by 425,400 shares in the quarter, for a total of 702,677 shares, and has risen its stake in Western Refng Logistics Lp (NYSE:WNRL).

Analysts await Buckeye Partners, L.P. (NYSE:BPL) to report earnings on February, 9. They expect $0.89 earnings per share, up 14.10 % or $0.11 from last year’s $0.78 per share. BPL’s profit will be $76.25M for 13.04 P/E if the $0.89 EPS becomes a reality. After $0.81 actual earnings per share reported by Buckeye Partners, L.P. for the previous quarter, Wall Street now forecasts 9.88 % EPS growth.

More news for Buckeye Partners, L.P. (NYSE:BPL) were recently published by: Globenewswire.com, which released: “Buckeye Partners, LP Prices $400 Million Offering of Senior Notes” on November 09, 2017. Moodys.com‘s article titled: “Moody’s rates Buckeye Partners’ new junior subordinated notes Ba1” and published on November 28, 2017 is yet another important article.

Buckeye Partners, L.P. (NYSE:BPL) Ratings Coverage

Among 14 analysts covering Buckeye Partners (NYSE:BPL), 5 have Buy rating, 0 Sell and 9 Hold. Therefore 36% are positive. Buckeye Partners had 43 analyst reports since August 4, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Monday, November 2 by Stifel Nicolaus. The stock of Buckeye Partners, L.P. (NYSE:BPL) earned “Hold” rating by RBC Capital Markets on Monday, August 7. The company was upgraded on Monday, December 14 by DA Davidson. Credit Suisse maintained the shares of BPL in report on Monday, August 7 with “Hold” rating. The company was upgraded on Monday, May 8 by Stifel Nicolaus. RBC Capital Markets maintained Buckeye Partners, L.P. (NYSE:BPL) rating on Sunday, October 15. RBC Capital Markets has “Hold” rating and $67.0 target. DA Davidson initiated the shares of BPL in report on Monday, November 16 with “Neutral” rating. Mizuho maintained the stock with “Neutral” rating in Monday, November 7 report. As per Thursday, July 13, the company rating was maintained by Stifel Nicolaus. The rating was maintained by Wells Fargo on Tuesday, October 10 with “Market Perform”.

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