Buckeye Partners L.P. (NYSE:BPL) announced its earnings results on Friday. The pipeline company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.05), Briefing.com reports. The firm had revenue of $922.60 million during the quarter, compared to analysts’ expectations of $795.12 million. Buckeye Partners L.P. had a net margin of 14.42% and a return on equity of 11.04%. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 EPS.
Buckeye Partners L.P. (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 633,677. The stock has a market capitalization of $7,347.88, a P/E ratio of 15.91 and a beta of 1.16. 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 52-week low of $50.14 and a 52-week high of $73.01.
The firm also recently announced a dividend, which will be paid on Monday, November 20th. Stockholders of record on Monday, November 13th will be paid a $1.2625 dividend. This is an increase from Buckeye Partners L.P.’s previous dividend of $1.24. The ex-dividend date is Friday, November 10th. Buckeye Partners L.P.’s dividend payout ratio (DPR) is presently 154.43%.
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BPL has been the subject of several analyst reports. Citigroup Inc. lowered their target price on shares of Buckeye Partners L.P. from $77.00 to $72.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $69.00 target price on shares of Buckeye Partners L.P. in a report on Sunday, September 10th. UBS Group AG (USA) lowered their target price 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. TheStreet downgraded shares of Buckeye Partners L.P. from a “b-” rating to a “c+” rating in a report on Wednesday, October 25th. Finally, Barclays PLC lowered their target price on shares of Buckeye Partners L.P. from $68.00 to $66.00 and set an “equal weight” rating for the company in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $69.42.
In other Buckeye Partners L.P. news, Director Barbara J. Duganier bought 1,000 shares of Buckeye Partners L.P. stock in a transaction dated Monday, August 14th. The stock was purchased at an average price of $58.19 per share, for a total transaction of $58,190.00. Following the completion of the purchase, the director now directly owns 9,000 shares of the company’s stock, valued at $523,710. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by company insiders.
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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