Morningstar Gives BBB Credit Rating to Buckeye Partners, L.P. (BPL)
Buckeye Partners, L.P. (NYSE:BPL) has earned a “BBB” credit rating from Morningstar. The firm’s “BBB” rating indicates that the company is a moderate default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
Separately, analysts at Argus reiterated a “buy” rating on shares of Buckeye Partners, L.P. in a research note on Tuesday. They now have a $83.00 price target on the stock, up previously from $82.00. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $80.00.
Buckeye Partners, L.P. (NYSE:BPL) opened at 80.97 on Thursday. Buckeye Partners, L.P. has a 52-week low of $62.00 and a 52-week high of $84.91. The stock’s 50-day moving average is $79.5 and its 200-day moving average is $77.68. The company has a market cap of $9.413 billion and a price-to-earnings ratio of 82.81.
Buckeye Partners, L.P. (NYSE:BPL) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.84 by $0.31. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 82.1% on a year-over-year basis. On average, analysts predict that Buckeye Partners, L.P. will post $3.38 earnings per share for the current fiscal year.
Buckeye Partners, L.P. (NYSE:BPL) is a master limited partnership.
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