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%.
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.
COPYRIGHT VIOLATION NOTICE: “Buckeye Partners (BPL) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://stocknewstimes.com/2018/02/11/buckeye-partners-bpl-releases-quarterly-earnings-results-misses-expectations-by-0-03-eps.html.
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.
Receive News & Ratings for Buckeye Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Buckeye Partners and related companies with MarketBeat.com's FREE daily email newsletter.