Buckeye Partners L.P. (NYSE:BPL) is scheduled to announce its earnings results before the market opens on Friday, November 3rd. Analysts expect the company to announce earnings of $0.93 per share for the quarter.
Buckeye Partners L.P. (NYSE:BPL) last issued its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.80 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.20). The firm had revenue of $810.20 million for the quarter, compared to analyst estimates of $797.47 million. Buckeye Partners L.P. had a net margin of 14.42% and a return on equity of 11.04%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. On average, analysts expect Buckeye Partners L.P. to post $3.46 EPS for the current fiscal year and $3.66 EPS for the next fiscal year.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Buckeye Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Monday, September 18th. BidaskClub lowered shares of Buckeye Partners L.P. from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. UBS AG lowered their price target 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. Royal Bank Of Canada restated a “hold” rating and set a $67.00 price target on shares of Buckeye Partners L.P. in a report on Monday, October 16th. Finally, Wells Fargo & Company lowered their price target 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $69.42.
In related news, Director Barbara J. Duganier acquired 1,000 shares of the stock in a transaction dated Monday, August 14th. The stock was bought at an average price of $58.19 per share, for a total transaction of $58,190.00. Following the purchase, the director now directly owns 9,000 shares of the company’s stock, valued at approximately $523,710. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.42% of the company’s stock.
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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