RBC Capital analyst Elvira Scotto reiterated a Hold rating on Buckeye Partners LP (NYSE: BPL) today and set a price target of $40. The company’s shares opened today at $36.35, close to its 52-week low of $32.03.
According to TipRanks.com, Scotto is a top 100 analyst with an average return of 24.1% and a 70.5% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners Lp, Green Plains Partners, and Plains All American.
The word on The Street in general, suggests a Hold analyst consensus rating for Buckeye Partners LP with a $37.86 average price target, a 4.2% upside from current levels. In a report issued on July 31, Citigroup also maintained a Hold rating on the stock with a $34 price target.
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The company has a one-year high of $61.67 and a one-year low of $32.03. Currently, Buckeye Partners LP has an average volume of 1.09M.
Based on the recent corporate insider activity of 50 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 midstream 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.
