Apollo Management Holdings LP Continues to Hold Stake in Buckeye Partners LP (Call) (BPL)

June 17, 2018 - By Stephen Andrade

Buckeye Partners, L.P. (NYSE:BPL) LogoInvestors sentiment increased to 0.79 in 2018 Q1. Its up 0.22, from 0.57 in 2017Q4. It improved, as 56 investors sold BPL shares while 70 reduced holdings. 24 funds opened positions while 76 raised stakes. 99.68 million shares or 1.01% more from 98.68 million shares in 2017Q4 were reported. Green Square Cap Lc invested in 94,429 shares. Williams Jones & Associates reported 54,736 shares stake. Fiduciary Ser Of The Southwest Incorporated Tx accumulated 18,085 shares. Argyll Research Lc reported 25,735 shares. Farmers And Merchants reported 9,760 shares stake. Bancorporation Of America De invested in 2.57 million shares. Asset Mgmt owns 4,346 shares for 0% of their portfolio. Cadence State Bank Na owns 14,255 shares or 0.21% of their US portfolio. Pnc Svcs Group Inc holds 0% or 68,665 shares in its portfolio. Hightower Ltd Limited Liability Company holds 0.03% or 99,769 shares in its portfolio. Signaturefd Ltd Liability Corp has 0.04% invested in Buckeye Partners, L.P. (NYSE:BPL) for 8,300 shares. Bb&T accumulated 6,077 shares. Regions Corporation stated it has 16,215 shares or 0.01% of all its holdings. Cypress Mngmt Lc (Wy) owns 0.02% invested in Buckeye Partners, L.P. (NYSE:BPL) for 500 shares. Silvercrest Asset Mgmt Grp Ltd Co holds 0.02% in Buckeye Partners, L.P. (NYSE:BPL) or 66,829 shares.

Since March 9, 2018, it had 1 insider buy, and 2 sales for $874,624 activity. Shares for $429,380 were sold by RUSSO TODD J on Tuesday, May 22. Sauger Joseph also sold $483,707 worth of Buckeye Partners, L.P. (NYSE:BPL) on Friday, March 9.

Apollo Management Holdings Lp increased its stake in Buckeye Partners LP (Call) (BPL) by 640.32% based on its latest 2018Q1 regulatory filing with the SEC. Apollo Management Holdings Lp bought 1.60 million shares as the company’s stock declined 22.07% with the market. The institutional investor held 1.85M shares of the natural gas distribution company at the end of 2018Q1, valued at $69.20 million, up from 250,000 at the end of the previous reported quarter. Apollo Management Holdings Lp who had been investing in Buckeye Partners LP (Call) for a number of months, seems to be bullish on the $5.47B market cap company. The stock decreased 1.98% or $0.72 during the last trading session, reaching $35.71. About 1.56M shares traded or 38.80% up from the average. Buckeye Partners, L.P. (NYSE:BPL) has declined 45.65% since June 17, 2017 and is downtrending. It has underperformed by 58.22% the S&P500.

Apollo Management Holdings Lp, which manages about $10.79 billion US Long portfolio, decreased its stake in Vistra Energy Corp by 5.75 million shares to 47.13M shares, valued at $981.67 million in 2018Q1, according to the filing. It also reduced its holding in Spdr S&P 500 Etf Tr (Put) (SPY) by 479,500 shares in the quarter, leaving it with 20,500 shares, and cut its stake in Parsley Energy Inc (NYSE:PE).

More notable recent Buckeye Partners, L.P. (NYSE:BPL) news were published by: Seekingalpha.com which released: “Buckeye Partners: Follow Cash Flow From Operations” on May 31, 2018, also Seekingalpha.com with their article: “Buckeye buys out partner in terminal project, raises growth capex plan” published on May 23, 2018, Fool.com published: “Why I Chose to Buy This High-Yield Dividend Stock” on June 06, 2018. More interesting news about Buckeye Partners, L.P. (NYSE:BPL) were released by: Bizjournals.com and their article: “Exxon Mobil, Plains All American to create Permian pipeline JV” published on June 13, 2018 as well as Seekingalpha.com‘s news article titled: “Why Buckeye Partners’ Sales Growth Is Misleading” with publication date: June 06, 2018.

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

Among 14 analysts covering Buckeye Partners (NYSE:BPL), 2 have Buy rating, 1 Sell and 11 Hold. Therefore 14% are positive. Buckeye Partners has $56.0 highest and $3600 lowest target. $44.50’s average target is 24.61% above currents $35.71 stock price. Buckeye Partners had 20 analyst reports since January 4, 2018 according to SRatingsIntel. The rating was downgraded by U.S. Capital Advisors on Thursday, January 4 to “Overweight”. Morgan Stanley maintained the shares of BPL in report on Friday, June 1 with “Equal-Weight” rating. The firm has “Neutral” rating by JP Morgan given on Tuesday, March 13. The stock has “Buy” rating by UBS on Friday, March 2. The stock has “Neutral” rating by Bank of America on Tuesday, March 6. The rating was downgraded by UBS on Tuesday, June 12 to “Hold”. The rating was maintained by Barclays Capital on Monday, February 12 with “Equal-Weight”. The stock has “Hold” rating by SunTrust on Sunday, April 22. On Tuesday, March 27 the stock rating was maintained by Citigroup with “Buy”. The rating was maintained by RBC Capital Markets with “Hold” on Wednesday, February 14.

Buckeye Partners, L.P. (NYSE:BPL) Institutional Positions Chart

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