Buckeye Partners (BPL) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Buckeye Partners (NYSE:BPL) announced its earnings results on Friday. The pipeline company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.03), Morningstar.com reports. The business had revenue of $946.05 million for the quarter, compared to analyst estimates of $905.02 million. Buckeye Partners had a net margin of 12.69% and a return on equity of 9.72%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share.

Buckeye Partners (NYSE:BPL) opened at $49.95 on Friday. The company has a market capitalization of $7,326.57, a PE ratio of 14.96 and a beta of 1.03. Buckeye Partners has a 52 week low of $43.90 and a 52 week high of $73.01. The company has a quick ratio of 0.64, a current ratio of 1.10 and a debt-to-equity ratio of 0.93.

The company also recently declared a dividend, which will be paid on Tuesday, February 27th. Investors of record on Tuesday, February 20th will be paid a $1.2625 dividend. This represents a yield of 0.0252752752752753%. This is an increase from Buckeye Partners’s previous dividend of $1.24. The ex-dividend date of this dividend is Friday, February 16th. Buckeye Partners’s dividend payout ratio (DPR) is 151.20%.

Several brokerages have recently weighed in on BPL. Zacks Investment Research upgraded Buckeye Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, February 5th. Mizuho set a $55.00 target price on Buckeye Partners and gave the company a “hold” rating in a research note on Friday. UBS Group lowered their target price on Buckeye Partners from $76.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. SunTrust Banks set a $58.00 target price on Buckeye Partners and gave the company a “hold” rating in a research note on Tuesday, November 14th. Finally, Bank of America began coverage on Buckeye Partners in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $64.27.

In related news, SVP Joseph Sauger sold 5,481 shares of Buckeye Partners stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $47.04, for a total value of $257,826.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of BPL. Hudock Capital Group LLC grew its stake in Buckeye Partners by 1,564.7% in the third quarter. Hudock Capital Group LLC now owns 1,931 shares of the pipeline company’s stock worth $110,000 after purchasing an additional 1,815 shares in the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new position in Buckeye Partners in the third quarter worth about $114,000. BNP Paribas Arbitrage SA grew its stake in Buckeye Partners by 315.0% in the third quarter. BNP Paribas Arbitrage SA now owns 2,075 shares of the pipeline company’s stock worth $118,000 after purchasing an additional 1,575 shares in the last quarter. Advisory Services Network LLC grew its stake in Buckeye Partners by 7.4% in the second quarter. Advisory Services Network LLC now owns 2,900 shares of the pipeline company’s stock worth $185,000 after purchasing an additional 200 shares in the last quarter. Finally, Smith Moore & CO. acquired a new position in Buckeye Partners in the third quarter worth about $211,000. Institutional investors and hedge funds own 70.24% of the company’s stock.

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Buckeye Partners Company Profile

Buckeye Partners, L.P. (Buckeye) 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. Its segments include Domestic Pipelines & Terminals, Global Marine Terminals and Merchant Services.

Earnings History for Buckeye Partners (NYSE:BPL)

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