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Is This the Right Time for Buckeye Partners?

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1 2 3 4 5 6 7 8 9 10 11
Part 10
Is This the Right Time for Buckeye Partners? PART 10 OF 11

Are Institutional Investors Bearish on Buckeye Partners?

Recent institutional activity in BPL

Buckeye Partners (BPL) saw total selling of ~2.6 million positions, while ~2.4 million positions were added during the recent quarter. Among the top institutional holders in BPL, ~1.3 million positions were sold. That might indicate a bearish sentiment. Center Coast Capital Advisors and Harvest Fund Advisors were the biggest sellers, with 0.88 million and 0.45 million shares sold, respectively. Nordea Funds and Tortoise Capital Advisors were the biggest buyers in BPL with 0.85 million and 0.48 million shares bought, respectively.

Are Institutional Investors Bearish on Buckeye Partners?

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Why institutional investors are bearish on BPL

Institutional investors’ bearishness toward BPL could be attributed to the following factors:

  • rising leverage
  • weak earnings in recent quarters
  • expiration of a few long-term terminal contracts
  • declining Eagle Ford throughput volumes
  • declining distribution coverage

Top five holders

Alps Advisors, OFI SteelPath, Harvest Fund Advisors, Kayne Anderson Capital Advisors, and ClearBridge Investments are among the top five institutional holders in BPL. Alps Advisors continue to be the top institutional holder with 7.3% in BPL.

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