After Reaching Milestone, Is Buckeye Partners L P (NYSE:BPL)’s Short Interest Revealing Something?

September 17, 2017 - By reb123z

 After Reaching Milestone, Is Buckeye Partners L P (NYSE:BPL)’s Short Interest Revealing Something?

Investors sentiment decreased to 1.06 in 2016 Q4. Its down 0.46, from 1.52 in 2016Q3. It turned negative, as 37 investors sold Buckeye Partners, L.P. shares while 87 reduced holdings. 30 funds opened positions while 101 raised stakes. 94.57 million shares or 6.05% more from 89.17 million shares in 2016Q3 were reported.
Harvest Fund Advsrs Limited Liability Corporation reported 8.35M shares or 5.69% of all its holdings. Goldman Sachs Grp Incorporated Inc holds 0.1% of its portfolio in Buckeye Partners, L.P. (NYSE:BPL) for 5.15M shares. Landscape Capital Limited Co stated it has 14,076 shares. Jennison Associate invested in 0.02% or 218,680 shares. Deutsche Bankshares Ag holds 0.07% or 1.33 million shares. Northern Corporation reported 141,501 shares. Renaissance Ltd Liability Corporation holds 631,434 shares. Cullinan Associates stated it has 3,700 shares or 0.02% of all its holdings. Brown Brothers Harriman & holds 0% or 1,600 shares. Moreover, Endurance Wealth has 0.02% invested in Buckeye Partners, L.P. (NYSE:BPL) for 1,800 shares. Moreover, Tower Research Cap Ltd (Trc) has 0% invested in Buckeye Partners, L.P. (NYSE:BPL) for 299 shares. Raymond James & invested in 108,886 shares or 0.02% of the stock. 9.49 million are held by Alps Advsrs. Patten Group Inc Inc has invested 0.03% of its portfolio in Buckeye Partners, L.P. (NYSE:BPL). The New York-based Qci Asset Mgmt New York has invested 0.01% in Buckeye Partners, L.P. (NYSE:BPL).

Since May 24, 2017, it had 0 buys, and 1 insider sale for $219,760 activity.

The stock of Buckeye Partners L P (NYSE:BPL) registered a decrease of 1.49% in short interest. BPL’s total short interest was 2.72M shares in September as published by FINRA. Its down 1.49% from 2.76M shares, reported previously. With 507,200 shares average volume, it will take short sellers 5 days to cover their BPL’s short positions. The short interest to Buckeye Partners L P’s float is 2.07%.

The stock decreased 1.55% or $0.88 on September 15, reaching $55.94. About 939,699 shares traded or 63.76% up from the average. Buckeye Partners, L.P. (NYSE:BPL) has declined 5.99% since September 17, 2016 and is downtrending. It has underperformed by 22.69% the S&P500.

Buckeye Partners, L.P. owns and operates a network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage, processing and marketing of liquid petroleum products. The company has market cap of $7.90 billion. The Company’s divisions include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services. It has a 15.39 P/E ratio. As of December 31, 2016, the Domestic Pipelines & Terminals segment owned and operated approximately 6,000 miles of pipeline located primarily in the northeastern and upper Midwestern portions of the United States, and serviced approximately 110 delivery locations.

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

Among 11 analysts covering Buckeye Partners (NYSE:BPL), 3 have Buy rating, 0 Sell and 8 Hold. Therefore 27% are positive. Buckeye Partners had 33 analyst reports since August 4, 2015 according to SRatingsIntel. As per Thursday, May 12, the company rating was maintained by Barclays Capital. The rating was downgraded by Stifel Nicolaus to “Hold” on Monday, February 13. The rating was maintained by Mizuho with “Neutral” on Monday, February 13. Stifel Nicolaus maintained it with “Buy” rating and $68 target in Wednesday, March 2 report. The firm earned “Hold” rating on Tuesday, March 21 by Suntrust Robinson. On Monday, November 7 the stock rating was maintained by Mizuho with “Neutral”. The firm has “Neutral” rating by Goldman Sachs given on Thursday, August 25. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, July 13 report. Stifel Nicolaus maintained Buckeye Partners, L.P. (NYSE:BPL) on Thursday, September 7 with “Buy” rating. As per Sunday, August 6, the company rating was maintained by Stifel Nicolaus.

More notable recent Buckeye Partners, L.P. (NYSE:BPL) news were published by: Seekingalpha.com which released: “Marathon Petroleum, Buckeye Partners said to restart Texas refineries” on August 30, 2017, also Reuters.com with their article: “Buckeye readies Puerto Rico terminal restart after Irma leaves area” published on September 07, 2017, Reuters.com published: “UPDATE 2-Buckeye targets normal operations at Bahamas oil terminal on Tuesday” on September 12, 2017. More interesting news about Buckeye Partners, L.P. (NYSE:BPL) were released by: Nasdaq.com and their article: “Buckeye Partners (BPL) Down 8.3% Since Earnings Report: Can It Rebound?” published on September 06, 2017 as well as Thestreet.com‘s news article titled: “Hurricane Irma Set to Shut Down Major Florida Ports” with publication date: September 06, 2017.

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