Buckeye Partners L.P. (BPL) Releases Earnings Results, Misses Estimates By $0.05 EPS
Buckeye Partners L.P. (NYSE:BPL) issued its quarterly earnings results on Friday. The pipeline company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.05), Briefing.com reports. Buckeye Partners L.P. had a return on equity of 11.04% and a net margin of 14.42%. The company had revenue of $922.60 million during the quarter, compared to the consensus estimate of $795.12 million. During the same quarter in the previous year, the business posted $1.19 EPS. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis.
Buckeye Partners L.P. (NYSE BPL) traded down $0.62 during trading hours on Friday, reaching $52.03. The company had a trading volume of 1,160,000 shares, compared to its average volume of 633,677. Buckeye Partners L.P. has a fifty-two week low of $50.14 and a fifty-two week high of $73.01. The firm has a market capitalization of $7,347.88, a price-to-earnings ratio of 15.91 and a beta of 1.16. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 0.98.
The firm also recently disclosed a dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 13th will be paid a $1.2625 dividend. The ex-dividend date of this dividend is Friday, November 10th. This is a positive change from Buckeye Partners L.P.’s previous dividend of $1.24. Buckeye Partners L.P.’s dividend payout ratio (DPR) is 154.43%.
In other news, Director Barbara J. Duganier purchased 1,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average cost of $58.19 per share, with a total value of $58,190.00. Following the completion of the purchase, the director now owns 9,000 shares of the company’s stock, valued at approximately $523,710. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.42% of the company’s stock.
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A number of research analysts recently commented on the company. Zacks Investment Research cut Buckeye Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub cut Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Barclays PLC decreased their price target on Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, August 7th. Credit Suisse Group set a $74.00 price target on Buckeye Partners L.P. and gave the stock a “hold” rating in a research report on Monday, August 7th. Finally, Citigroup Inc. decreased their price target on Buckeye Partners L.P. from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Buckeye Partners L.P. has an average rating of “Hold” and a consensus price target of $69.42.
About Buckeye Partners L.P.
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.
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