Buckeye Partners L.P. (BPL) Releases Earnings Results, Misses Expectations By $0.05 EPS
Buckeye Partners L.P. (NYSE:BPL) released its earnings results on Friday. The pipeline company reported $0.81 earnings per share (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 business had revenue of $922.60 million for the quarter, compared to analysts’ expectations of $795.12 million. During the same period in the previous year, the company earned $1.19 EPS. Buckeye Partners L.P.’s quarterly revenue was up 20.3% compared to the same quarter last year.
Shares of Buckeye Partners L.P. (NYSE:BPL) traded down $0.62 on Friday, hitting $52.03. 1,160,000 shares of the stock traded hands, compared to its average volume of 631,387. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.07 and a quick ratio of 0.54. Buckeye Partners L.P. has a 1-year low of $50.14 and a 1-year high of $73.01. The firm has a market capitalization of $7,350.00, a PE ratio of 14.44 and a beta of 1.16.
The business also recently announced a dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 13th will be given a $1.2625 dividend. The ex-dividend date of this dividend is Friday, November 10th. This is a boost from Buckeye Partners L.P.’s previous dividend of $1.24. Buckeye Partners L.P.’s dividend payout ratio is presently 138.36%.
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A number of equities research analysts have recently issued reports on BPL shares. Royal Bank Of Canada reaffirmed a “hold” rating and set a $67.00 target price on shares of Buckeye Partners L.P. in a report on Wednesday, September 13th. Stifel Nicolaus reissued a “buy” rating and issued a $69.00 price objective on shares of Buckeye Partners L.P. in a report on Sunday, September 10th. UBS Group AG (USA) dropped their price objective on shares of Buckeye Partners L.P. from $76.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Wells Fargo & Company dropped their price objective on shares of Buckeye Partners L.P. from $66.00 to $61.00 and set a “market perform” rating for the company in a report on Tuesday, October 10th. Finally, Zacks Investment Research raised shares of Buckeye Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $69.42.
In other Buckeye Partners L.P. news, Director Barbara J. Duganier acquired 1,000 shares of Buckeye Partners L.P. stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of $58.19 per share, for a total transaction of $58,190.00. Following the purchase, the director now owns 9,000 shares of the company’s stock, valued at $523,710. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.
Buckeye Partners L.P. 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.
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